ConocoPhillips (NYSE:COP – Get Free Report) has received an average recommendation of “Moderate Buy” from the twenty-one research firms that are presently covering the company, Marketbeat Ratings reports. Four 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 1 year price target among brokerages that have updated their coverage on the stock in the last year is $136.35.
Several research analysts have issued reports on the company. StockNews.com assumed coverage on ConocoPhillips in a research report on Thursday, October 5th. They issued a “hold” rating on the stock. Bank of America raised their target price on ConocoPhillips from $145.00 to $150.00 in a research report on Wednesday, September 27th. Wells Fargo & Company lifted their price objective on ConocoPhillips from $134.00 to $138.00 and gave the company an “overweight” rating in a research report on Friday, August 4th. Royal Bank of Canada lifted their price objective on ConocoPhillips from $130.00 to $135.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, Johnson Rice began coverage on ConocoPhillips in a research report on Tuesday. They set an “accumulate” rating and a $135.00 price objective on the stock.
Insider Transactions at ConocoPhillips
Institutional Trading of ConocoPhillips
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank Julius Baer & Co. Ltd Zurich raised its holdings in ConocoPhillips by 97,756.1% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,354,810,556 shares of the energy producer’s stock valued at $140,371,922,000 after buying an additional 1,353,426,064 shares during the period. Wellington Management Group LLP increased its stake in ConocoPhillips by 2.6% in the first quarter. Wellington Management Group LLP now owns 44,731,153 shares of the energy producer’s stock worth $4,437,778,000 after purchasing an additional 1,138,607 shares during the period. Geode Capital Management LLC increased its stake in ConocoPhillips by 1.5% in the second quarter. Geode Capital Management LLC now owns 22,756,145 shares of the energy producer’s stock worth $2,354,009,000 after purchasing an additional 334,277 shares during the period. Morgan Stanley increased its stake in ConocoPhillips by 26.6% in the fourth quarter. Morgan Stanley now owns 16,647,723 shares of the energy producer’s stock worth $1,964,432,000 after purchasing an additional 3,497,750 shares during the period. Finally, Northern Trust Corp increased its stake in ConocoPhillips by 3.2% in the third quarter. Northern Trust Corp now owns 12,486,871 shares of the energy producer’s stock worth $1,495,927,000 after purchasing an additional 386,276 shares during the period. Hedge funds and other institutional investors own 80.36% of the company’s stock.
ConocoPhillips Trading Up 2.3 %
Shares of NYSE:COP opened at $114.59 on Friday. The stock has a market capitalization of $136.07 billion, a price-to-earnings ratio of 12.52, a PEG ratio of 0.70 and a beta of 1.28. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.53 and a current ratio of 1.66. The stock’s 50-day simple moving average is $119.68 and its two-hundred day simple moving average is $112.31. ConocoPhillips has a 52-week low of $91.53 and a 52-week high of $130.55.
ConocoPhillips Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Tuesday, November 14th will be issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 2.02%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Monday, November 13th. ConocoPhillips’s dividend payout ratio is 25.36%.
ConocoPhillips Company Profile
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States and internationally. 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 global exploration prospects.
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