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

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ConocoPhillips (NYSE:COP) has earned a consensus recommendation of “Buy” from the seventeen research firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $78.36.

A number of research analysts recently commented on COP shares. Piper Jaffray Companies raised ConocoPhillips from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $68.00 to $75.00 in a report on Thursday, March 21st. Morgan Stanley upped their price objective on ConocoPhillips from $77.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, March 4th. Zacks Investment Research raised ConocoPhillips from a “hold” rating to a “buy” rating and set a $74.00 price objective on the stock in a report on Wednesday, March 13th. Credit Suisse Group raised ConocoPhillips from a “neutral” rating to an “outperform” rating and set a $75.00 price objective on the stock in a report on Tuesday, April 30th. Finally, ValuEngine cut ConocoPhillips from a “hold” rating to a “sell” rating in a report on Thursday, June 6th.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in COP. First Commonwealth Financial Corp PA lifted its holdings in shares of ConocoPhillips by 2.8% in the 4th quarter. First Commonwealth Financial Corp PA now owns 5,454 shares of the energy producer’s stock worth $340,000 after buying an additional 150 shares during the period. Fishman Jay A Ltd. MI lifted its holdings in shares of ConocoPhillips by 0.4% in the 4th quarter. Fishman Jay A Ltd. MI now owns 38,267 shares of the energy producer’s stock worth $2,386,000 after buying an additional 152 shares during the period. Arete Wealth Advisors LLC lifted its holdings in shares of ConocoPhillips by 1.5% in the 4th quarter. Arete Wealth Advisors LLC now owns 10,832 shares of the energy producer’s stock worth $675,000 after buying an additional 158 shares during the period. Farmers & Merchants Investments Inc. lifted its holdings in shares of ConocoPhillips by 0.5% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 34,226 shares of the energy producer’s stock worth $2,284,000 after buying an additional 160 shares during the period. Finally, Kanawha Capital Management LLC lifted its holdings in shares of ConocoPhillips by 0.9% in the 1st quarter. Kanawha Capital Management LLC now owns 18,026 shares of the energy producer’s stock worth $1,203,000 after buying an additional 165 shares during the period. 72.09% of the stock is currently owned by hedge funds and other institutional investors.

NYSE COP traded down $0.74 during trading hours on Tuesday, reaching $59.78. The company’s stock had a trading volume of 311,968 shares, compared to its average volume of 6,088,815. The business’s 50-day moving average is $60.27. The company has a quick ratio of 1.72, a current ratio of 1.86 and a debt-to-equity ratio of 0.45. ConocoPhillips has a 1 year low of $56.75 and a 1 year high of $80.24. The stock has a market cap of $68.53 billion, a P/E ratio of 13.20, a price-to-earnings-growth ratio of 1.50 and a beta of 1.03.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Tuesday, April 30th. The energy producer reported $1.00 EPS for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.08. ConocoPhillips had a return on equity of 16.65% and a net margin of 18.08%. The company had revenue of $10.06 billion for the quarter, compared to analysts’ expectations of $9.16 billion. During the same period in the previous year, the firm earned $0.96 EPS. Sell-side analysts anticipate that ConocoPhillips will post 4.22 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 13th were given a dividend of $0.305 per share. This represents a $1.22 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend was Friday, May 10th. ConocoPhillips’s dividend payout ratio is currently 26.93%.

ConocoPhillips Company Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the tight oil reservoirs, LNG, oil sands, and other production operations. Its 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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