ConocoPhillips (NYSE:COP) Receives Consensus Recommendation of “Hold” from Brokerages
ConocoPhillips (NYSE:COP) has received a consensus rating of “Hold” from the thirty-one research firms that are presently covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $56.50.
A number of brokerages have commented on COP. ValuEngine upgraded ConocoPhillips from a “sell” rating to a “hold” rating in a report on Monday. Citigroup Inc. lowered their target price on ConocoPhillips from $65.00 to $57.00 and set a “buy” rating on the stock in a report on Friday. Cowen and Company set a $55.00 target price on ConocoPhillips and gave the company a “buy” rating in a report on Tuesday, July 18th. Royal Bank Of Canada set a $62.00 target price on ConocoPhillips and gave the company a “buy” rating in a report on Sunday, July 16th. Finally, Zacks Investment Research cut ConocoPhillips from a “hold” rating to a “sell” rating in a report on Monday, July 17th.
Shares of ConocoPhillips (NYSE:COP) traded up 2.805% during trading on Tuesday, reaching $43.805. The company had a trading volume of 3,288,358 shares. ConocoPhillips has a 12 month low of $38.80 and a 12 month high of $53.17. The firm’s market capitalization is $54.19 billion. The firm’s 50 day moving average price is $44.21 and its 200 day moving average price is $46.95.
ConocoPhillips (NYSE:COP) last announced its earnings results on Tuesday, May 2nd. The energy producer reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by $0.05. The company had revenue of $7.77 billion for the quarter, compared to analyst estimates of $7.47 billion. ConocoPhillips had a negative net margin of 5.05% and a negative return on equity of 5.92%. During the same quarter last year, the company posted ($0.95) EPS. Equities analysts predict that ConocoPhillips will post ($0.02) EPS for the current year.
ConocoPhillips announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, March 29th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the energy producer to repurchase up to 5.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Monday, July 24th will be issued a $0.265 dividend. The ex-dividend date of this dividend is Thursday, July 20th. This represents a $1.06 annualized dividend and a yield of 2.49%. ConocoPhillips’s dividend payout ratio is currently -95.50%.
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In related news, VP James D. Mcmorran sold 9,091 shares of the stock in a transaction on Friday, May 19th. The stock was sold at an average price of $47.47, for a total value of $431,549.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.82% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. First Command Bank increased its stake in shares of ConocoPhillips by 9.4% in the second quarter. First Command Bank now owns 2,313 shares of the energy producer’s stock valued at $101,000 after buying an additional 199 shares in the last quarter. Gemmer Asset Management LLC increased its stake in shares of ConocoPhillips by 0.4% in the first quarter. Gemmer Asset Management LLC now owns 2,167 shares of the energy producer’s stock valued at $108,000 after buying an additional 8 shares in the last quarter. Quadrant Capital Group LLC increased its stake in shares of ConocoPhillips by 30.9% in the first quarter. Quadrant Capital Group LLC now owns 2,413 shares of the energy producer’s stock valued at $109,000 after buying an additional 569 shares in the last quarter. Financial Management Professionals Inc. increased its stake in shares of ConocoPhillips by 0.3% in the first quarter. Financial Management Professionals Inc. now owns 2,288 shares of the energy producer’s stock valued at $114,000 after buying an additional 6 shares in the last quarter. Finally, Advocacy Wealth Management Services LLC increased its stake in shares of ConocoPhillips by 4.5% in the first quarter. Advocacy Wealth Management Services LLC now owns 2,329 shares of the energy producer’s stock valued at $116,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 67.74% of the company’s stock.
ConocoPhillips Company Profile
ConocoPhillips is an independent exploration and production company. The Company explores for, produces, transports and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG) and natural gas liquids. The Company operates through five segments: Alaska, Lower 48, Canada, Europe and North Africa, Asia Pacific and Middle East, and Other International.
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