ConocoPhillips (NYSE:COP) Cut to “Hold” at StockNews.com

StockNews.com downgraded shares of ConocoPhillips (NYSE:COPGet Rating) from a buy rating to a hold rating in a research report sent to investors on Friday morning.

A number of other analysts have also commented on the company. KeyCorp boosted their price target on ConocoPhillips from $112.00 to $118.00 and gave the company an overweight rating in a report on Friday, April 8th. Scotiabank upgraded ConocoPhillips from a sector perform rating to an outperform rating and boosted their price target for the company from $110.00 to $115.00 in a report on Monday, April 18th. Raymond James upped their target price on ConocoPhillips from $120.00 to $160.00 and gave the stock a strong-buy rating in a report on Monday, April 25th. Truist Financial upped their target price on ConocoPhillips from $115.00 to $130.00 in a report on Thursday, April 21st. Finally, UBS Group lowered ConocoPhillips from a buy rating to a neutral rating and set a $50.00 target price on the stock. in a report on Tuesday, February 1st. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, ConocoPhillips currently has a consensus rating of Buy and an average target price of $105.79.

Shares of ConocoPhillips stock traded up $4.83 during trading on Friday, reaching $107.69. The stock had a trading volume of 9,213,091 shares, compared to its average volume of 6,663,847. The company has a market capitalization of $139.57 billion, a price-to-earnings ratio of 11.10, a P/E/G ratio of 0.38 and a beta of 1.36. The stock has a fifty day moving average price of $99.58 and a two-hundred day moving average price of $86.23. ConocoPhillips has a 52 week low of $51.41 and a 52 week high of $107.71. The company has a current ratio of 1.34, a quick ratio of 1.23 and a debt-to-equity ratio of 0.41.

ConocoPhillips (NYSE:COPGet Rating) last issued its quarterly earnings results on Thursday, May 5th. The energy producer reported $3.27 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.74. The company had revenue of $19.29 billion for the quarter, compared to analyst estimates of $18.36 billion. ConocoPhillips had a return on equity of 18.08% and a net margin of 16.71%. The company’s quarterly revenue was up 82.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.69 earnings per share. On average, equities analysts forecast that ConocoPhillips will post 14.43 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 1st. Investors of record on Tuesday, May 17th will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend is Monday, May 16th. ConocoPhillips’s dividend payout ratio (DPR) is presently 23.51%.

In related news, EVP Nicholas G. Olds sold 19,600 shares of the business’s stock in a transaction dated Friday, March 4th. The stock was sold at an average price of $99.95, for a total value of $1,959,020.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Heather G. Sirdashney sold 5,700 shares of the business’s stock in a transaction dated Friday, March 4th. The shares were sold at an average price of $98.71, for a total value of $562,647.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 167,800 shares of company stock valued at $15,730,870. 0.08% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the business. James Investment Research Inc. bought a new position in ConocoPhillips in the first quarter valued at about $29,000. Fairfield Bush & CO. bought a new position in ConocoPhillips in the first quarter valued at about $31,000. Versant Capital Management Inc grew its position in ConocoPhillips by 93.1% in the first quarter. Versant Capital Management Inc now owns 365 shares of the energy producer’s stock valued at $37,000 after acquiring an additional 176 shares during the last quarter. Delos Wealth Advisors LLC grew its holdings in shares of ConocoPhillips by 1,300.0% during the fourth quarter. Delos Wealth Advisors LLC now owns 378 shares of the energy producer’s stock worth $27,000 after purchasing an additional 351 shares during the last quarter. Finally, Bell Investment Advisors Inc bought a new stake in shares of ConocoPhillips during the third quarter worth about $26,000. Hedge funds and other institutional investors own 78.80% of the company’s stock.

About ConocoPhillips (Get Rating)

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. It primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.

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Analyst Recommendations for ConocoPhillips (NYSE:COP)

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