ConocoPhillips Given Consensus Recommendation of “Buy” by Brokerages (NYSE:COP)
Shares of ConocoPhillips (NYSE:COP) have been given a consensus recommendation of “Buy” by the twenty analysts that are currently covering the company, Stock Ratings Network.com reports. One research analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $88.87.
Shares of ConocoPhillips (NYSE:COP) opened at 80.62 on Tuesday. ConocoPhillips has a 52 week low of $62.74 and a 52 week high of $87.09. The stock’s 50-day moving average is $83.95 and its 200-day moving average is $75.66. The company has a market cap of $99.128 billion and a price-to-earnings ratio of 10.86. ConocoPhillips also was the recipient of a large decline in short interest during the month of July. As of July 31st, there was short interest totalling 22,906,601 shares, a decline of 9.7% from the July 15th total of 25,379,340 shares. Approximately 1.9% of the shares of the company are sold short. Based on an average daily volume of 4,910,283 shares, the days-to-cover ratio is currently 4.7 days.
ConocoPhillips (NYSE:COP) last released its earnings data on Thursday, July 31st. The company reported $1.61 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.60 by $0.01. During the same quarter last year, the company posted $1.41 earnings per share. Analysts expect that ConocoPhillips will post $6.56 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 2nd. Stockholders of record on Monday, July 21st will be paid a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a dividend yield of 3.64%. The ex-dividend date is Thursday, July 17th. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.69.
COP has been the subject of a number of recent research reports. Analysts at Simmons upgraded shares of ConocoPhillips from a “neutral” rating to an “overweight” rating in a research note on Wednesday. Separately, 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. Finally, 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.
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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