ConocoPhillips (NYSE:COP) has been given an average recommendation of “Hold” by the twenty-three ratings firms that are currently covering the company. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $49.79.
A number of equities analysts have weighed in on the company. Zacks Investment Research upgraded ConocoPhillips from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research note on Wednesday, July 13th. Deutsche Bank AG reiterated a “buy” rating on shares of ConocoPhillips in a research note on Sunday, July 31st. Jefferies Group upgraded ConocoPhillips from an “underperform” rating to a “hold” rating and lifted their price objective for the company from $30.00 to $40.00 in a research note on Wednesday, September 7th. They noted that the move was a valuation call. Nomura reiterated a “hold” rating and set a $49.00 price objective on shares of ConocoPhillips in a research note on Monday, October 3rd. Finally, Simmons reiterated a “neutral” rating on shares of ConocoPhillips in a research note on Thursday, August 11th.
In related news, VP Ellen Desanctis bought 5,000 shares of the stock in a transaction dated Thursday, August 11th. The shares were acquired at an average cost of $40.50 per share, for a total transaction of $202,500.00. Following the acquisition, the vice president now directly owns 22,010 shares in the company, valued at approximately $891,405. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Arjun N. Murti bought 6,500 shares of the stock in a transaction dated Monday, August 1st. The shares were bought at an average price of $39.72 per share, for a total transaction of $258,180.00. Following the completion of the acquisition, the director now owns 19,000 shares in the company, valued at $754,680. The disclosure for this purchase can be found here. Insiders own 0.07% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Pinkerton Retirement Specialists LLC boosted its position in ConocoPhillips by 5,507.0% in the second quarter. Pinkerton Retirement Specialists LLC now owns 2,411 shares of the company’s stock worth $105,000 after buying an additional 2,368 shares in the last quarter. Quadrant Capital Group LLC boosted its position in ConocoPhillips by 100.0% in the second quarter. Quadrant Capital Group LLC now owns 2,742 shares of the company’s stock worth $109,000 after buying an additional 1,371 shares in the last quarter. Integrated Investment Consultants LLC boosted its position in ConocoPhillips by 25.0% in the second quarter. Integrated Investment Consultants LLC now owns 2,543 shares of the company’s stock worth $111,000 after buying an additional 509 shares in the last quarter. Signaturefd LLC boosted its position in ConocoPhillips by 16.9% in the second quarter. Signaturefd LLC now owns 2,648 shares of the company’s stock worth $115,000 after buying an additional 383 shares in the last quarter. Finally, Cribstone Capital Management LLC acquired a new position in ConocoPhillips during the second quarter worth approximately $122,000. Institutional investors and hedge funds own 63.69% of the company’s stock.
ConocoPhillips (NYSE:COP) opened at 44.22 on Wednesday. The company’s 50-day moving average price is $41.80 and its 200-day moving average price is $42.73. ConocoPhillips has a 52 week low of $31.05 and a 52 week high of $57.24. The company’s market capitalization is $54.77 billion.
ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, July 28th. The company reported ($0.79) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.61) by $0.18. ConocoPhillips had a negative return on equity of 9.26% and a negative net margin of 28.40%. The firm had revenue of $5.58 billion for the quarter, compared to analyst estimates of $5.38 billion. During the same period in the prior year, the firm posted $0.07 EPS. The business’s revenue was down 35.6% compared to the same quarter last year. Equities analysts forecast that ConocoPhillips will post ($2.47) earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Monday, October 17th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend is Thursday, October 13th. ConocoPhillips’s dividend payout ratio is currently -17.57%.
ConocoPhillips Company Profile
ConocoPhillips (ConocoPhillips) is an independent exploration and production company. The Company explores for, produces, transports and markets crude oil, bitumen, natural gas and liquefied natural gas (LNG). The Company operates through six operating segments, which are primarily defined by geographic region: Alaska; Lower 48; Canada; Europe and North Africa; Asia Pacific and Middle East, and Other International.
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