ConocoPhillips (NYSE:COP) Receives “Outperform” Rating from Evercore ISI

Evercore ISI restated their outperform rating on shares of ConocoPhillips (NYSE:COP) in a report published on Friday morning, Marketbeat.com reports. The brokerage currently has a $165.00 price target on the energy producer’s stock.

A number of other research firms also recently commented on COP. Truist Financial dropped their price objective on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a report on Monday, September 30th. Royal Bank of Canada restated an “outperform” rating and set a $140.00 price objective on shares of ConocoPhillips in a report on Friday, September 13th. Scotiabank dropped their price objective on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. Susquehanna increased their price target on ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. upgraded ConocoPhillips from a “neutral” rating to an “overweight” rating and increased their price target for the company from $120.00 to $123.00 in a report on Thursday. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, ConocoPhillips has a consensus rating of “Moderate Buy” and a consensus target price of $139.06.

ConocoPhillips Trading Down 1.2 %

Shares of ConocoPhillips stock opened at $103.22 on Friday. ConocoPhillips has a fifty-two week low of $101.29 and a fifty-two week high of $135.18. The firm has a market cap of $118.80 billion, a PE ratio of 12.27, a P/E/G ratio of 0.85 and a beta of 1.18. The business’s fifty day moving average is $108.64 and its two-hundred day moving average is $110.43. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $13.97 billion. During the same quarter in the prior year, the company posted $2.16 EPS. The business’s revenue for the quarter was down 8.5% compared to the same quarter last year. Analysts anticipate that ConocoPhillips will post 7.76 earnings per share for the current year.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were given a dividend of $0.78 per share. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.12 annualized dividend and a dividend yield of 3.02%. ConocoPhillips’s dividend payout ratio (DPR) is presently 37.10%.

Hedge Funds Weigh In On ConocoPhillips

Several large investors have recently modified their holdings of the stock. Vicus Capital lifted its position in ConocoPhillips by 3.7% during the 2nd quarter. Vicus Capital now owns 2,637 shares of the energy producer’s stock worth $302,000 after acquiring an additional 94 shares during the last quarter. Montag A & Associates Inc. lifted its position in ConocoPhillips by 2.5% during the 2nd quarter. Montag A & Associates Inc. now owns 3,900 shares of the energy producer’s stock worth $446,000 after acquiring an additional 96 shares during the last quarter. Excalibur Management Corp lifted its position in ConocoPhillips by 2.4% during the 2nd quarter. Excalibur Management Corp now owns 4,037 shares of the energy producer’s stock worth $462,000 after acquiring an additional 96 shares during the last quarter. Cypress Capital Group raised its position in shares of ConocoPhillips by 0.5% during the third quarter. Cypress Capital Group now owns 18,790 shares of the energy producer’s stock valued at $1,978,000 after buying an additional 96 shares during the last quarter. Finally, Bank OZK raised its position in shares of ConocoPhillips by 1.6% during the second quarter. Bank OZK now owns 6,251 shares of the energy producer’s stock valued at $715,000 after buying an additional 97 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

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.