Capital One Financial started coverage on shares of ConocoPhillips (NYSE:COP) in a research report sent to investors on Tuesday morning, Benzinga reports. The firm issued an overweight rating and a $70.00 target price 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.
A number of other brokerages have also commented on COP. Piper Jaffray Companies started coverage on shares of ConocoPhillips in a report on Tuesday, November 26th. They set a buy rating and a $74.00 price target on the stock. Wells Fargo & Co reiterated a buy rating on shares of ConocoPhillips in a report on Tuesday, November 19th. Zacks Investment Research upgraded shares of ConocoPhillips from a hold rating to a buy rating and set a $70.00 price target on the stock in a report on Tuesday, January 14th. Scotiabank lowered shares of ConocoPhillips from a sector outperform rating to a sector perform rating and set a $74.00 price target on the stock. in a report on Thursday, January 23rd. Finally, Atlantic Securities started coverage on shares of ConocoPhillips in a report on Friday, December 13th. They set an overweight rating and a $75.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The stock has an average rating of Buy and an average target price of $74.38.
Shares of ConocoPhillips stock opened at $58.62 on Tuesday. ConocoPhillips has a fifty-two week low of $50.13 and a fifty-two week 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 firm has a market capitalization of $64.32 billion, a P/E ratio of 9.17, a P/E/G ratio of 2.96 and a beta of 1.11. The company’s 50 day moving average price is $62.80 and its two-hundred day moving average price is $58.56.
ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Tuesday, February 4th. The energy producer reported $0.76 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.05). The business had revenue of $8.14 billion for the quarter, compared to analyst estimates of $7.83 billion. ConocoPhillips had a return on equity of 11.84% and a net margin of 19.60%. During the same quarter last year, the firm posted $1.13 EPS. On average, analysts expect that ConocoPhillips will post 3.32 earnings per share for the current year.
ConocoPhillips declared that its Board of Directors has authorized a share repurchase program on Tuesday, February 4th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the energy producer to buy up to 15.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Friday, February 14th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date of this dividend is Thursday, February 13th. ConocoPhillips’s dividend payout ratio is presently 46.80%.
In related news, President William L. Jr. Bullock sold 25,628 shares of ConocoPhillips stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $63.17, for a total transaction of $1,618,920.76. Following the completion of the transaction, the president now owns 32,926 shares of the company’s stock, valued at $2,079,935.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.66% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. First Quadrant L P CA increased its stake in ConocoPhillips by 18.8% in the third quarter. First Quadrant L P CA now owns 55,837 shares of the energy producer’s stock valued at $3,182,000 after purchasing an additional 8,819 shares in the last quarter. Nikko Asset Management Americas Inc. increased its stake in ConocoPhillips by 6.0% in the third quarter. Nikko Asset Management Americas Inc. now owns 73,388 shares of the energy producer’s stock valued at $4,182,000 after purchasing an additional 4,172 shares in the last quarter. City Holding Co. increased its stake in ConocoPhillips by 8.0% in the third quarter. City Holding Co. now owns 34,321 shares of the energy producer’s stock valued at $1,955,000 after purchasing an additional 2,537 shares in the last quarter. M&R Capital Management Inc. increased its stake in ConocoPhillips by 38.4% in the fourth quarter. M&R Capital Management Inc. now owns 11,974 shares of the energy producer’s stock valued at $778,000 after purchasing an additional 3,325 shares in the last quarter. Finally, FTB Advisors Inc. increased its stake in ConocoPhillips by 23.2% in the third quarter. FTB Advisors Inc. now owns 5,763 shares of the energy producer’s stock valued at $327,000 after purchasing an additional 1,086 shares in the last quarter. 71.50% of the stock is owned by institutional investors and hedge funds.
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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