ConocoPhillips Given Consensus Rating of “Buy” by Analysts (NYSE:COP)
ConocoPhillips (NYSE:COP) has received a consensus recommendation of “Buy” from the twenty brokerages that are presently covering the company, AnalystRatingsNetwork reports. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation, nine have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $88.19.
ConocoPhillips (NYSE:COP) opened at 80.80 on Tuesday. ConocoPhillips has a 1-year low of $62.74 and a 1-year high of $87.09. The stock has a 50-day moving average of $84.53 and a 200-day moving average of $75.3. The company has a market cap of $99.349 billion and a P/E ratio of 10.95. ConocoPhillips also saw a large drop in short interest in the month of July. As of July 31st, there was short interest totalling 22,906,601 shares, a drop of 9.7% from the July 15th total of 25,379,340 shares. Currently, 1.9% of the shares of the company are short sold. Based on an average trading volume of 4,910,283 shares, the days-to-cover ratio is currently 4.7 days.
ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, July 31st. The company reported $1.61 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.60 by $0.01. During the same quarter in the prior year, the company posted $1.41 earnings per share. On average, analysts predict that ConocoPhillips will post $6.54 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, September 2nd. Investors of record on Monday, July 21st will be given a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date of this dividend is Thursday, July 17th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.69.
A number of analysts have recently weighed in on COP shares. Analysts at Argus reiterated a “buy” rating on shares of ConocoPhillips in a research note on Thursday, August 7th. They now have a $92.00 price target on the stock, up previously from $90.00. Separately, analysts at Barclays reiterated an “overweight” rating on shares of ConocoPhillips in a research note on Friday, July 25th. They now have a $108.00 price target on the stock, up previously from $100.00. Finally, analysts at Deutsche Bank raised their price target on shares of ConocoPhillips from $94.00 to $99.00 in a research note on Thursday, July 17th. They now have a “buy” rating on the stock.
ConocoPhillips is an independent exploration and production (NYSE:COP) company, based on proved reserves and production of liquids and natural gas.
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