Capital One Financial initiated coverage on shares of ConocoPhillips (NYSE:COP) in a report released on Tuesday morning, Benzinga reports. The firm issued an overweight rating and a $70.00 price target on the energy producer’s stock. Capital One Financial also issued estimates for ConocoPhillips’ Q1 2020 earnings at $0.63 EPS, Q2 2020 earnings at $0.68 EPS, Q3 2020 earnings at $0.69 EPS, Q4 2020 earnings at $0.74 EPS, FY2020 earnings at $2.74 EPS, FY2021 earnings at $3.09 EPS, FY2022 earnings at $2.38 EPS, FY2023 earnings at $2.56 EPS and FY2024 earnings at $2.78 EPS.
Other equities analysts also recently issued reports about the stock. Wells Fargo & Co restated a buy rating on shares of ConocoPhillips in a research note on Tuesday, November 19th. MKM Partners started coverage on shares of ConocoPhillips in a research note on Thursday, December 5th. They set a buy rating and a $72.00 price objective for the company. Robert W. Baird started coverage on shares of ConocoPhillips in a research note on Tuesday, January 14th. They set an outperform rating and a $72.00 price objective for the company. Susquehanna Bancshares began coverage on shares of ConocoPhillips in a research note on Tuesday, January 14th. They set a positive rating and a $80.00 price objective for the company. Finally, JPMorgan Chase & Co. upped their target price on shares of ConocoPhillips from $70.00 to $74.00 and gave the company an overweight rating in a report on Friday, November 22nd. Three equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. ConocoPhillips presently has a consensus rating of Buy and a consensus price target of $74.38.
ConocoPhillips stock opened at $58.62 on Tuesday. The firm has a 50-day moving average of $62.80 and a 200-day moving average of $58.56. ConocoPhillips has a one year low of $50.13 and a one year high of $71.01. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.40 and a quick ratio of 2.26. The company has a market cap of $64.32 billion, a price-to-earnings ratio of 9.17, a P/E/G ratio of 2.96 and a beta of 1.11.
The company also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Friday, February 14th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.87%. ConocoPhillips’s payout ratio is 46.80%.
ConocoPhillips announced that its Board of Directors has initiated a share buyback plan on Tuesday, February 4th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the energy producer to purchase up to 15.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.
In other news, President William L. Jr. Bullock sold 25,628 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $63.17, for a total value of $1,618,920.76. Following the sale, the president now directly owns 32,926 shares of the company’s stock, valued at approximately $2,079,935.42. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.66% of the stock is currently owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the business. Pacitti Group Inc. bought a new position in ConocoPhillips in the 4th quarter valued at about $31,000. Earnest Partners LLC bought a new position in ConocoPhillips in the 4th quarter valued at about $34,000. Solstein Capital LLC bought a new position in ConocoPhillips in the 4th quarter valued at about $35,000. Manchester Financial Inc. bought a new position in ConocoPhillips in the 4th quarter valued at about $36,000. Finally, Princeton Global Asset Management LLC bought a new position in ConocoPhillips in the 4th quarter valued at about $38,000. 71.50% of the stock is currently owned by hedge funds and other institutional investors.
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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