ConocoPhillips (COP) Receives Overweight Rating from Barclays PLC
ConocoPhillips (NYSE:COP)‘s stock had its “overweight” rating reissued by stock analysts at Barclays PLC in a research note issued on Monday. They presently have a $60.00 price target on the stock. Barclays PLC’s target price suggests a potential upside of 35.17% from the company’s current price.
Several other equities analysts also recently commented on COP. Deutsche Bank AG reissued a “buy” rating and set a $62.00 target price on shares of ConocoPhillips in a research report on Thursday, June 16th. Jefferies Group reissued a “sell” rating on shares of ConocoPhillips in a research report on Thursday, June 30th. JPMorgan Chase & Co. raised shares of ConocoPhillips from an “underweight” rating to a “neutral” rating and set a $44.00 target price on the stock in a research report on Monday, July 11th. They noted that the move was a valuation call. Zacks Investment Research raised shares of ConocoPhillips from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a research report on Wednesday, July 13th. Finally, Simmons reissued a “neutral” rating on shares of ConocoPhillips in a research report on Thursday, August 11th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $49.69.
Shares of ConocoPhillips (NYSE:COP) traded up 0.38% during mid-day trading on Monday, reaching $44.39. The company’s stock had a trading volume of 9,102,066 shares. The company has a 50 day moving average price of $41.83 and a 200 day moving average price of $42.79. The stock’s market capitalization is $54.98 billion. ConocoPhillips has a 12 month low of $31.05 and a 12 month high of $57.24.
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ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, July 28th. The company reported ($0.79) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.61) by $0.18. ConocoPhillips had a negative return on equity of 9.26% and a negative net margin of 28.40%. The company earned $5.58 billion during the quarter, compared to analyst estimates of $5.38 billion. During the same period last year, the company posted $0.07 earnings per share. The company’s revenue was down 35.6% compared to the same quarter last year. On average, equities research analysts anticipate that ConocoPhillips will post ($2.47) earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Monday, October 17th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend is Thursday, October 13th. ConocoPhillips’s dividend payout ratio (DPR) is currently -17.57%.
In other news, Director Arjun N. Murti bought 6,500 shares of the business’s stock in a transaction dated Monday, August 1st. The stock was bought at an average price of $39.72 per share, for a total transaction of $258,180.00. Following the completion of the purchase, the director now owns 19,000 shares of the company’s stock, valued at approximately $754,680. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Ellen Desanctis bought 5,000 shares of the business’s stock in a transaction dated Thursday, August 11th. The stock was purchased at an average price of $40.50 per share, with a total value of $202,500.00. Following the purchase, the vice president now directly owns 22,010 shares of the company’s stock, valued at approximately $891,405. The disclosure for this purchase can be found here. 0.07% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of COP. Pinkerton Retirement Specialists LLC boosted its position in ConocoPhillips by 5,507.0% in the second quarter. Pinkerton Retirement Specialists LLC now owns 2,411 shares of the company’s stock worth $105,000 after buying an additional 2,368 shares during the period. Integrated Investment Consultants LLC boosted its position in ConocoPhillips by 25.0% in the second quarter. Integrated Investment Consultants LLC now owns 2,543 shares of the company’s stock worth $111,000 after buying an additional 509 shares during the period. Signaturefd LLC boosted its position in ConocoPhillips by 16.9% in the second quarter. Signaturefd LLC now owns 2,648 shares of the company’s stock worth $115,000 after buying an additional 383 shares during the period. Quadrant Capital Group LLC boosted its position in ConocoPhillips by 100.0% in the second quarter. Quadrant Capital Group LLC now owns 2,742 shares of the company’s stock worth $109,000 after buying an additional 1,371 shares during the period. Finally, Cribstone Capital Management LLC purchased a new position in ConocoPhillips during the second quarter worth about $122,000. Institutional investors own 63.69% of the company’s stock.
ConocoPhillips (ConocoPhillips) is an independent exploration and production company. The Company explores for, produces, transports and markets crude oil, bitumen, natural gas and liquefied natural gas (LNG). The Company operates through six operating segments, which are primarily defined by geographic region: Alaska; Lower 48; Canada; Europe and North Africa; Asia Pacific and Middle East, and Other International.
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