ConocoPhillips (NYSE:COP) Given Consensus Rating of “Moderate Buy” by Brokerages

ConocoPhillips (NYSE:COP) has been given a consensus recommendation of “Moderate Buy” by the eighteen brokerages that are presently covering the stock, MarketBeat reports. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $137.63.

A number of equities analysts recently weighed in on COP shares. Barclays upped their target price on shares of ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Royal Bank of Canada restated an “outperform” rating and set a $140.00 price objective on shares of ConocoPhillips in a research report on Friday, September 13th. BMO Capital Markets lifted their target price on ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Susquehanna increased their price target on ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $126.00 price objective (down previously from $139.00) on shares of ConocoPhillips in a research note on Friday, October 11th.

Institutional Trading of ConocoPhillips

Institutional investors have recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in ConocoPhillips by 19.0% during the 3rd quarter. State Street Corp now owns 66,928,793 shares of the energy producer’s stock valued at $7,046,263,000 after buying an additional 10,663,093 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of ConocoPhillips by 20.2% in the third quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer’s stock valued at $3,280,725,000 after purchasing an additional 5,240,016 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of ConocoPhillips by 59.7% in the third quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer’s stock valued at $1,311,369,000 after purchasing an additional 4,656,040 shares during the period. Pacer Advisors Inc. increased its holdings in ConocoPhillips by 5,422.3% during the 3rd quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer’s stock worth $482,996,000 after purchasing an additional 4,504,653 shares during the period. Finally, Franklin Resources Inc. raised its position in ConocoPhillips by 12.5% during the 3rd quarter. Franklin Resources Inc. now owns 13,557,351 shares of the energy producer’s stock valued at $1,469,163,000 after purchasing an additional 1,506,599 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Trading Down 0.1 %

Shares of COP stock opened at $106.05 on Wednesday. The stock has a fifty day simple moving average of $108.64 and a two-hundred day simple moving average of $110.52. ConocoPhillips has a 52-week low of $101.29 and a 52-week high of $135.18. The firm has a market capitalization of $122.05 billion, a PE ratio of 12.61, a PEG ratio of 0.87 and a beta of 1.18. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The company had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.97 billion. During the same quarter last year, the company earned $2.16 EPS. The firm’s quarterly revenue was down 8.5% on a year-over-year basis. On average, analysts predict that ConocoPhillips will post 7.76 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 11th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 2.94%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date was Friday, November 8th. ConocoPhillips’s dividend payout ratio is presently 37.10%.

ConocoPhillips Company Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.