Mizuho set a $68.00 price target on ConocoPhillips (NYSE:COP) in a research note issued to investors on Monday. The firm currently has a hold rating on the energy producer’s stock.
A number of other research firms have also recently issued reports on COP. Goldman Sachs Group cut shares of ConocoPhillips from a buy rating to a neutral rating in a research note on Monday, October 1st. Citigroup raised their target price on shares of ConocoPhillips from $80.00 to $90.00 and gave the stock a buy rating in a research note on Friday, October 5th. Morgan Stanley cut shares of ConocoPhillips to a hold rating in a research note on Tuesday, October 2nd. Zacks Investment Research upgraded shares of ConocoPhillips from a hold rating to a buy rating and set a $88.00 target price for the company in a research note on Monday, October 8th. Finally, Royal Bank of Canada cut shares of ConocoPhillips from an outperform rating to a sector perform rating and set a $90.00 target price for the company. in a research note on Thursday, September 20th. They noted that the move was a valuation call. Ten analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. ConocoPhillips presently has a consensus rating of Buy and a consensus target price of $74.63.
NYSE COP opened at $66.92 on Monday. The company has a quick ratio of 1.82, a current ratio of 1.99 and a debt-to-equity ratio of 0.46. The stock has a market cap of $76.19 billion, a PE ratio of 111.53, a P/E/G ratio of 1.62 and a beta of 1.22. ConocoPhillips has a 52-week low of $50.08 and a 52-week high of $80.24.
ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, October 25th. The energy producer reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.19. The company had revenue of $10.17 billion during the quarter, compared to analysts’ expectations of $9.48 billion. ConocoPhillips had a net margin of 16.08% and a return on equity of 14.62%. As a group, equities research analysts expect that ConocoPhillips will post 4.75 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 3rd. Shareholders of record on Monday, October 15th were paid a $0.305 dividend. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Friday, October 12th. This represents a $1.22 annualized dividend and a yield of 1.82%. ConocoPhillips’s payout ratio is 203.33%.
In other ConocoPhillips news, VP Glenda Mae Schwarz sold 18,882 shares of ConocoPhillips stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $71.15, for a total value of $1,343,454.30. Following the completion of the sale, the vice president now owns 29,064 shares in the company, valued at approximately $2,067,903.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.88% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in COP. CWM LLC increased its holdings in ConocoPhillips by 164.1% in the 2nd quarter. CWM LLC now owns 3,288 shares of the energy producer’s stock valued at $229,000 after buying an additional 2,043 shares during the period. First Trust Advisors LP increased its holdings in ConocoPhillips by 1.4% in the 2nd quarter. First Trust Advisors LP now owns 226,054 shares of the energy producer’s stock valued at $15,738,000 after buying an additional 3,104 shares during the period. Fiera Capital Corp increased its holdings in ConocoPhillips by 1,504.2% in the 2nd quarter. Fiera Capital Corp now owns 101,705 shares of the energy producer’s stock valued at $7,080,000 after buying an additional 95,365 shares during the period. Bank of The Ozarks increased its holdings in ConocoPhillips by 5.1% in the 2nd quarter. Bank of The Ozarks now owns 16,257 shares of the energy producer’s stock valued at $1,132,000 after buying an additional 795 shares during the period. Finally, Inverness Counsel LLC NY increased its holdings in ConocoPhillips by 3.0% in the 2nd quarter. Inverness Counsel LLC NY now owns 70,044 shares of the energy producer’s stock valued at $4,876,000 after buying an additional 2,055 shares during the period. 71.89% of the stock is currently owned by hedge funds and other institutional investors.
ConocoPhillips Company Profile
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. Its portfolio includes North American tight oil and oil sands assets in Canada; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; and an inventory of conventional and unconventional exploration prospects.
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