ConocoPhillips (NYSE:COP) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of ConocoPhillips (NYSE:COP) have earned an average recommendation of “Moderate Buy” from the eighteen analysts that are presently covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $137.63.

Several analysts have recently issued reports on the stock. Wells Fargo & Company restated a “sector perform” rating on shares of ConocoPhillips in a research report on Friday, October 18th. UBS Group decreased their target price on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Truist Financial cut their price target on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Scotiabank decreased their price objective on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. Finally, Barclays upped their target price on shares of ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st.

Institutional Investors Weigh In On ConocoPhillips

Institutional investors have recently added to or reduced their stakes in the stock. Vicus Capital lifted its position in shares of ConocoPhillips by 3.7% during the second quarter. Vicus Capital now owns 2,637 shares of the energy producer’s stock valued at $302,000 after buying an additional 94 shares during the last quarter. Montag A & Associates Inc. raised its stake in shares of ConocoPhillips by 2.5% during the 2nd quarter. Montag A & Associates Inc. now owns 3,900 shares of the energy producer’s stock worth $446,000 after acquiring an additional 96 shares in the last quarter. Excalibur Management Corp lifted its position in ConocoPhillips by 2.4% during the second quarter. Excalibur Management Corp now owns 4,037 shares of the energy producer’s stock valued at $462,000 after acquiring an additional 96 shares during the last quarter. Cypress Capital Group lifted its position in ConocoPhillips by 0.5% during the third quarter. Cypress Capital Group now owns 18,790 shares of the energy producer’s stock valued at $1,978,000 after acquiring an additional 96 shares during the last quarter. Finally, First Hawaiian Bank boosted its stake in ConocoPhillips by 0.3% in the second quarter. First Hawaiian Bank now owns 36,739 shares of the energy producer’s stock valued at $4,202,000 after acquiring an additional 97 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Up 0.9 %

Shares of COP opened at $108.34 on Wednesday. ConocoPhillips has a 12-month low of $101.29 and a 12-month high of $135.18. The business’s 50 day moving average is $108.77 and its 200 day moving average is $110.72. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $124.69 billion, a PE ratio of 12.88, a price-to-earnings-growth ratio of 0.89 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. The company had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The firm’s revenue for the quarter was down 8.5% on a year-over-year basis. During the same period in the previous year, the business earned $2.16 earnings per share. Research analysts expect that ConocoPhillips will post 7.76 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 11th will be given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 2.88%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Friday, November 8th. ConocoPhillips’s payout ratio is presently 37.10%.

ConocoPhillips Company Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.