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

ConocoPhillips (NYSE:COPGet Rating) has received a consensus rating of “Buy” from the twenty-six research firms that are currently covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation, sixteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $105.79.

COP has been the topic of a number of recent research reports. Credit Suisse Group upped their price objective on shares of ConocoPhillips from $97.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, February 4th. StockNews.com upgraded shares of ConocoPhillips from a “hold” rating to a “buy” rating in a research note on Saturday, May 14th. Morgan Stanley upped their target price on shares of ConocoPhillips from $96.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday, April 22nd. Susquehanna upped their target price on shares of ConocoPhillips from $108.00 to $129.00 in a research note on Monday, April 25th. Finally, Barclays upped their target price on shares of ConocoPhillips from $93.00 to $131.00 in a research note on Friday, March 18th.

In related news, EVP Nicholas G. Olds sold 19,600 shares of ConocoPhillips stock in a transaction dated Friday, March 4th. The shares were sold at an average price of $99.95, for a total transaction of $1,959,020.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Heather G. Sirdashney sold 5,700 shares of ConocoPhillips stock in a transaction dated Friday, March 4th. The shares were sold at an average price of $98.71, for a total transaction of $562,647.00. The disclosure for this sale can be found here. 0.08% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Capital World Investors increased its position in ConocoPhillips by 62.4% during the 1st quarter. Capital World Investors now owns 23,463,085 shares of the energy producer’s stock valued at $2,346,309,000 after purchasing an additional 9,014,700 shares during the period. Diamond Hill Capital Management Inc. purchased a new position in shares of ConocoPhillips in the 1st quarter worth approximately $702,569,000. BlackRock Inc. grew its position in shares of ConocoPhillips by 3.4% in the 4th quarter. BlackRock Inc. now owns 111,073,845 shares of the energy producer’s stock worth $8,017,310,000 after buying an additional 3,652,817 shares during the last quarter. Capital Research Global Investors grew its position in shares of ConocoPhillips by 28.2% in the 1st quarter. Capital Research Global Investors now owns 12,335,053 shares of the energy producer’s stock worth $1,233,506,000 after buying an additional 2,715,820 shares during the last quarter. Finally, Cowa LLC grew its position in shares of ConocoPhillips by 6,475.2% in the 1st quarter. Cowa LLC now owns 2,375,224 shares of the energy producer’s stock worth $2,383,000 after buying an additional 2,339,100 shares during the last quarter. Institutional investors own 78.80% of the company’s stock.

COP traded up $0.41 during midday trading on Tuesday, reaching $105.02. The company’s stock had a trading volume of 6,717,710 shares, compared to its average volume of 7,915,445. The firm has a market capitalization of $135.84 billion, a price-to-earnings ratio of 10.83, a PEG ratio of 0.38 and a beta of 1.36. The company has a current ratio of 1.51, a quick ratio of 1.41 and a debt-to-equity ratio of 0.36. ConocoPhillips has a 1 year low of $51.41 and a 1 year high of $108.30. The stock’s 50-day moving average is $100.38 and its 200-day moving average is $88.24.

ConocoPhillips (NYSE:COPGet Rating) last announced its quarterly earnings data on Thursday, May 5th. The energy producer reported $3.27 earnings per share for the quarter, topping analysts’ consensus estimates of $3.24 by $0.03. The business had revenue of $19.29 billion for the quarter, compared to analysts’ expectations of $18.36 billion. ConocoPhillips had a net margin of 22.52% and a return on equity of 24.89%. The business’s revenue was up 82.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.69 earnings per share. As a group, equities research analysts forecast that ConocoPhillips will post 14.5 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 1st. Shareholders of record on Tuesday, May 17th will be given a dividend of $0.46 per share. The ex-dividend date is Monday, May 16th. This represents a $1.84 annualized dividend and a yield of 1.75%. ConocoPhillips’s dividend payout ratio (DPR) is currently 18.97%.

ConocoPhillips Company Profile (Get Rating)

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. It primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations. The company's 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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Analyst Recommendations for ConocoPhillips (NYSE:COP)

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