ConocoPhillips (NYSE:COP) had its price target cut by Morgan Stanley from $84.00 to $81.00 in a research report released on Friday, BenzingaRatingsTable reports. They currently have an overweight rating on the energy producer’s stock.
Other equities analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of General Moly from a sell rating to a hold rating in a report on Thursday, July 11th. JPMorgan Chase & Co. began coverage on shares of Pinduoduo in a research report on Tuesday, July 9th. They issued an underweight rating and a $20.48 target price for the company. Piper Jaffray Companies set a $30.00 target price on shares of KLX Energy Services and gave the stock a buy rating in a research report on Thursday, March 21st. Credit Suisse Group reaffirmed an outperform rating and issued a GBX 2,012 ($26.29) target price on shares of Aston Martin Lagonda Global in a research report on Wednesday, May 1st. Finally, ValuEngine raised shares of Zogenix from a buy rating to a strong-buy rating in a research report on Thursday, June 27th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $77.07.
Shares of NYSE COP opened at $60.65 on Friday. ConocoPhillips has a twelve month low of $56.75 and a twelve month high of $80.24. The stock has a market cap of $68.55 billion, a price-to-earnings ratio of 13.39, a P/E/G ratio of 1.63 and a beta of 1.00. The stock has a 50 day moving average price of $60.01. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.72 and a current ratio of 1.86.
ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Tuesday, April 30th. The energy producer reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.08. ConocoPhillips had a net margin of 18.08% and a return on equity of 16.65%. The company had revenue of $10.06 billion during the quarter, compared to analyst estimates of $9.16 billion. During the same period in the previous year, the business earned $0.96 EPS. Equities research analysts predict that ConocoPhillips will post 3.99 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Monday, July 22nd will be given a $0.305 dividend. This represents a $1.22 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend is Friday, July 19th. ConocoPhillips’s dividend payout ratio (DPR) is presently 26.93%.
Hedge funds have recently modified their holdings of the company. Ontario Teachers Pension Plan Board grew its position in shares of ConocoPhillips by 252.0% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 131,799 shares of the energy producer’s stock valued at $8,796,000 after acquiring an additional 94,355 shares during the period. Marshall Wace North America L.P. bought a new position in ConocoPhillips in the 1st quarter worth $11,951,000. ARP Americas LP bought a new position in ConocoPhillips in the 1st quarter worth $945,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its holdings in ConocoPhillips by 8.7% in the 4th quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 79,700 shares of the energy producer’s stock worth $4,969,000 after buying an additional 6,400 shares during the period. Finally, Azimuth Capital Management LLC boosted its holdings in ConocoPhillips by 5.9% in the 1st quarter. Azimuth Capital Management LLC now owns 10,078 shares of the energy producer’s stock worth $673,000 after buying an additional 560 shares during the period. 72.13% of the stock is 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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