ConocoPhillips (COP) Receives Average Recommendation of “Buy” from Brokerages
ConocoPhillips (NYSE:COP) has earned a consensus recommendation of “Buy” from the twenty-nine ratings firms that are covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $55.94.
COP has been the subject of a number of research reports. BidaskClub downgraded ConocoPhillips from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 27th. Citigroup Inc. decreased their price objective on ConocoPhillips from $65.00 to $57.00 and set a “buy” rating for the company in a report on Friday, July 21st. Royal Bank Of Canada set a $62.00 price objective on ConocoPhillips and gave the stock a “buy” rating in a report on Sunday, July 16th. Sanford C. Bernstein downgraded ConocoPhillips from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $63.00 to $42.00 in a report on Thursday, July 6th. Finally, Zacks Investment Research downgraded ConocoPhillips from a “hold” rating to a “sell” rating in a report on Monday, July 17th.
Several large investors have recently added to or reduced their stakes in COP. Financial Management Professionals Inc. boosted its position 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 during the last quarter. Gemmer Asset Management LLC boosted its position 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 during the last quarter. Canal Capital Management LLC boosted its position in shares of ConocoPhillips by 0.3% in the second quarter. Canal Capital Management LLC now owns 6,342 shares of the energy producer’s stock valued at $279,000 after buying an additional 22 shares during the last quarter. Wendell David Associates Inc. boosted its position in shares of ConocoPhillips by 0.3% in the second quarter. Wendell David Associates Inc. now owns 7,561 shares of the energy producer’s stock valued at $332,000 after buying an additional 26 shares during the last quarter. Finally, Sheets Smith Wealth Management boosted its position in shares of ConocoPhillips by 0.3% in the second quarter. Sheets Smith Wealth Management now owns 13,694 shares of the energy producer’s stock valued at $602,000 after buying an additional 37 shares during the last quarter. 68.68% of the stock is currently owned by institutional investors.
ConocoPhillips (COP) traded up 0.26% during mid-day trading on Friday, reaching $43.11. 7,310,360 shares of the company traded hands. ConocoPhillips has a 12-month low of $39.00 and a 12-month high of $53.17. The company’s 50-day moving average is $44.10 and its 200-day moving average is $46.28. The stock’s market capitalization is $52.46 billion.
ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, July 27th. The energy producer reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.16. The business had revenue of $8.88 billion during the quarter, compared to the consensus estimate of $6.74 billion. ConocoPhillips had a negative return on equity of 2.86% and a negative net margin of 12.29%. During the same quarter in the prior year, the company earned ($0.79) earnings per share. Equities analysts predict that ConocoPhillips will post $0.24 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Monday, July 24th will be given a dividend of $0.265 per share. The ex-dividend date of this dividend is Thursday, July 20th. This represents a $1.06 annualized dividend and a dividend yield of 2.46%. ConocoPhillips’s dividend payout ratio (DPR) is presently -34.98%.
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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