Analysts Set ConocoPhillips (COP) Target Price at $59.06
ConocoPhillips (NYSE:COP) has been assigned a consensus recommendation of “Buy” from the twenty-five research firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, seven have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $59.06.
A number of equities analysts recently issued reports on the company. Credit Suisse Group assumed coverage on ConocoPhillips in a report on Monday, December 11th. They issued a “neutral” rating and a $50.00 target price on the stock. Zacks Investment Research upgraded ConocoPhillips from a “hold” rating to a “strong-buy” rating and set a $66.00 target price on the stock in a report on Wednesday, January 10th. Piper Jaffray Companies restated a “buy” rating and issued a $63.00 target price on shares of ConocoPhillips in a report on Wednesday, January 24th. Macquarie assumed coverage on ConocoPhillips in a report on Wednesday, January 17th. They issued an “outperform” rating on the stock. Finally, Wells Fargo & Co lifted their target price on ConocoPhillips from $57.00 to $60.00 and gave the stock an “outperform” rating in a report on Friday, October 27th.
Shares of ConocoPhillips (COP) traded down $0.09 during midday trading on Friday, hitting $53.32. The company had a trading volume of 1,569,060 shares, compared to its average volume of 6,098,489. The company has a quick ratio of 2.23, a current ratio of 2.38 and a debt-to-equity ratio of 0.64. The firm has a market cap of $63,880.00, a PE ratio of -82.00, a price-to-earnings-growth ratio of 1.70 and a beta of 1.32. ConocoPhillips has a twelve month low of $42.26 and a twelve month high of $61.31.
ConocoPhillips declared that its Board of Directors has authorized a share repurchase plan on Wednesday, November 8th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the energy producer to buy shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Monday, February 12th will be issued a dividend of $0.285 per share. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Friday, February 9th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.14%. ConocoPhillips’s payout ratio is currently -175.38%.
In other ConocoPhillips news, Director Charles E. Bunch purchased 2,000 shares of the stock in a transaction dated Monday, December 11th. The shares were acquired at an average price of $52.06 per share, for a total transaction of $104,120.00. Following the completion of the acquisition, the director now owns 3,429 shares of the company’s stock, valued at approximately $178,513.74. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.82% of the company’s stock.
Several hedge funds have recently modified their holdings of COP. Harel Insurance Investments & Financial Services Ltd. boosted its position in ConocoPhillips by 468.8% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,820 shares of the energy producer’s stock valued at $100,000 after purchasing an additional 1,500 shares during the last quarter. Krilogy Financial LLC boosted its position in ConocoPhillips by 48.6% during 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 last quarter. Rocky Mountain Advisers LLC boosted its position in ConocoPhillips by 140.2% during 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 last quarter. Clear Perspective Advisors LLC boosted its position in ConocoPhillips by 75.5% during the second quarter. Clear Perspective Advisors LLC now owns 2,790 shares of the energy producer’s stock valued at $123,000 after purchasing an additional 1,200 shares during the last quarter. Finally, Lloyds Banking Group plc acquired a new stake in ConocoPhillips during the second quarter valued at $127,000. Institutional investors and hedge funds own 70.93% of the company’s stock.
ConocoPhillips Company Profile
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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