ConocoPhillips (NYSE:COP) Receives Average Recommendation of “Buy” from Analysts

Shares of ConocoPhillips (NYSE:COPGet Rating) have been assigned a consensus recommendation of “Buy” from the twenty-six brokerages that are presently covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $105.79.

A number of analysts have recently weighed in on COP shares. Barclays upped their price target on shares of ConocoPhillips from $93.00 to $131.00 in a research note on Friday, March 18th. Morgan Stanley increased their target price on shares of ConocoPhillips from $96.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, April 22nd. StockNews.com raised shares of ConocoPhillips from a “hold” rating to a “buy” rating in a research note on Saturday. Susquehanna increased their target price on shares of ConocoPhillips from $108.00 to $129.00 in a research note on Monday, April 25th. Finally, Mizuho increased their target price on shares of ConocoPhillips from $115.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, March 31st.

Shares of NYSE:COP opened at $105.50 on Tuesday. The company has a 50 day moving average of $99.77 and a 200-day moving average of $87.44. The firm has a market cap of $136.46 billion, a P/E ratio of 10.88, a P/E/G ratio of 0.37 and a beta of 1.35. ConocoPhillips has a twelve month low of $51.41 and a twelve month high of $107.71. The company has a current ratio of 1.51, a quick ratio of 1.41 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COPGet Rating) last issued its quarterly earnings results on Thursday, May 5th. The energy producer reported $3.27 earnings per share for the quarter, topping analysts’ consensus estimates of $3.24 by $0.03. The company had revenue of $19.29 billion during the quarter, compared to analyst estimates of $18.36 billion. ConocoPhillips had a net margin of 22.52% and a return on equity of 24.89%. The business’s revenue for the quarter was up 82.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.69 EPS. Equities research analysts forecast that ConocoPhillips will post 14.52 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 1st. Investors of record on Tuesday, May 17th will be issued a dividend of $0.46 per share. The ex-dividend date is Monday, May 16th. This represents a $1.84 annualized dividend and a dividend yield of 1.74%. ConocoPhillips’s dividend payout ratio is 18.97%.

In related news, VP Heather G. Sirdashney sold 5,700 shares of the stock in a transaction on Friday, March 4th. The stock was sold at an average price of $98.71, for a total transaction of $562,647.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Nicholas G. Olds sold 19,600 shares of the stock in a transaction on Friday, March 4th. The stock was sold at an average price of $99.95, for a total value of $1,959,020.00. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Crossvault Capital Management LLC raised its holdings in ConocoPhillips by 1.7% during the first quarter. Crossvault Capital Management LLC now owns 6,120 shares of the energy producer’s stock valued at $612,000 after buying an additional 100 shares in the last quarter. Ballew Advisors Inc raised its holdings in ConocoPhillips by 1.5% during the first quarter. Ballew Advisors Inc now owns 7,005 shares of the energy producer’s stock valued at $702,000 after buying an additional 103 shares in the last quarter. Parkside Financial Bank & Trust raised its holdings in ConocoPhillips by 2.1% during the first quarter. Parkside Financial Bank & Trust now owns 5,163 shares of the energy producer’s stock valued at $516,000 after buying an additional 105 shares in the last quarter. Greenwich Wealth Management LLC raised its holdings in ConocoPhillips by 2.9% during the first quarter. Greenwich Wealth Management LLC now owns 3,851 shares of the energy producer’s stock valued at $385,000 after buying an additional 107 shares in the last quarter. Finally, WealthPLAN Partners LLC increased its stake in shares of ConocoPhillips by 3.6% in the fourth quarter. WealthPLAN Partners LLC now owns 3,315 shares of the energy producer’s stock worth $294,000 after purchasing an additional 116 shares during the period. 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.

Further Reading

Analyst Recommendations for ConocoPhillips (NYSE:COP)

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