ConocoPhillips (COP) Rating Lowered to Outperform at Howard Weil
Howard Weil lowered shares of ConocoPhillips (NYSE:COP) from a focus list rating to an outperform rating in a research note published on Friday morning. Howard Weil currently has $58.00 price objective on the energy producer’s stock.
Several other analysts have also recently issued reports on COP. Scotiabank reiterated a buy rating and issued a $53.00 price objective on shares of ConocoPhillips in a research note on Friday, September 29th. Zacks Investment Research lowered ConocoPhillips from a buy rating to a hold rating in a report on Tuesday, December 19th. Royal Bank of Canada set a $61.00 target price on ConocoPhillips and gave the company a buy rating in a report on Wednesday, December 20th. Barclays reissued an overweight rating and issued a $55.00 target price (up previously from $51.00) on shares of ConocoPhillips in a report on Tuesday, October 10th. Finally, Piper Jaffray Companies set a $45.00 target price on ConocoPhillips and gave the company a buy rating in a report on Friday, August 25th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $55.41.
Shares of ConocoPhillips (NYSE:COP) opened at $55.50 on Friday. The stock has a market capitalization of $66,351.14, a price-to-earnings ratio of 2,775.00, a PEG ratio of 13.39 and a beta of 1.26. The company has a quick ratio of 2.23, a current ratio of 2.38 and a debt-to-equity ratio of 0.64. ConocoPhillips has a 52 week low of $42.26 and a 52 week high of $56.21.
ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, October 26th. The energy producer reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.08. The business had revenue of $7.20 billion for the quarter, compared to analysts’ expectations of $6.55 billion. ConocoPhillips had a positive return on equity of 0.12% and a negative net margin of 7.32%. During the same period last year, the firm earned ($0.66) earnings per share. analysts anticipate that ConocoPhillips will post 0.55 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Monday, October 16th were issued a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date was Friday, October 13th. ConocoPhillips’s dividend payout ratio is currently -57.30%.
In related news, Director Charles E. Bunch purchased 2,000 shares of the stock in a transaction that occurred on Monday, December 11th. The shares were purchased at an average price of $52.06 per share, with a total value of $104,120.00. Following the completion of the acquisition, the director now directly owns 3,429 shares in the company, valued at approximately $178,513.74. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.82% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Financial Management Professionals Inc. lifted its position in ConocoPhillips by 0.3% in the second quarter. Financial Management Professionals Inc. now owns 2,294 shares of the energy producer’s stock valued at $100,000 after purchasing an additional 6 shares during the period. First Command Bank lifted its position in ConocoPhillips by 9.4% in the second quarter. First Command Bank now owns 2,313 shares of the energy producer’s stock valued at $101,000 after purchasing an additional 199 shares during the period. Krilogy Financial LLC lifted its position in ConocoPhillips by 48.6% in the second quarter. Krilogy Financial LLC now owns 2,392 shares of the energy producer’s stock valued at $105,000 after purchasing an additional 782 shares during the period. Rocky Mountain Advisers LLC lifted its position in ConocoPhillips by 140.2% in the third quarter. Rocky Mountain Advisers LLC now owns 2,392 shares of the energy producer’s stock valued at $120,000 after purchasing an additional 1,396 shares during the period. Finally, Westside Investment Management Inc. lifted its position in ConocoPhillips by 468.4% in the first quarter. Westside Investment Management Inc. now owns 2,427 shares of the energy producer’s stock valued at $119,000 after purchasing an additional 2,000 shares during the period. 69.62% of the stock is currently owned by hedge funds and other institutional investors.
ConocoPhillips is an independent exploration and production company. The Company explores for, produces, transports and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG) and natural gas liquids. The Company operates through five segments: Alaska, Lower 48, Canada, Europe and North Africa, Asia Pacific and Middle East, and Other International.
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