ConocoPhillips (NYSE:COP) Receives Average Rating of “Moderate Buy” from Brokerages

ConocoPhillips (NYSE:COP) has earned an average rating of “Moderate Buy” from the twenty-four analysts that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and eighteen have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $115.6250.

A number of research analysts have recently issued reports on the company. Capital One Financial boosted their price objective on ConocoPhillips from $111.00 to $112.00 in a research note on Friday, October 3rd. Piper Sandler dropped their price target on ConocoPhillips from $124.00 to $115.00 and set an “overweight” rating on the stock in a research note on Monday, October 13th. Raymond James Financial dropped their price target on ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating on the stock in a research note on Monday, September 8th. The Goldman Sachs Group dropped their price target on ConocoPhillips from $111.00 to $108.00 and set a “buy” rating on the stock in a research note on Friday, October 17th. Finally, Melius assumed coverage on ConocoPhillips in a research note on Wednesday, August 20th. They set a “hold” rating and a $117.00 price target on the stock.

ConocoPhillips Stock Down 2.3%

Shares of NYSE:COP opened at $88.01 on Friday. The company has a market capitalization of $109.92 billion, a price-to-earnings ratio of 11.81, a P/E/G ratio of 2.40 and a beta of 0.62. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10. The business’s 50-day moving average is $93.32 and its 200-day moving average is $91.92. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $115.38.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.06. The company had revenue of $14.94 billion for the quarter, compared to the consensus estimate of $14.39 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The firm’s revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.98 EPS. Equities research analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend was Monday, August 18th. ConocoPhillips’s dividend payout ratio is 41.88%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Howard Hughes Medical Institute acquired a new position in ConocoPhillips during the 2nd quarter worth approximately $25,000. Bogart Wealth LLC raised its stake in ConocoPhillips by 136.8% during the 2nd quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock worth $28,000 after buying an additional 182 shares during the period. Activest Wealth Management raised its stake in ConocoPhillips by 249.5% during the 2nd quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock worth $29,000 after buying an additional 232 shares during the period. Financial Network Wealth Advisors LLC raised its stake in shares of ConocoPhillips by 341.5% in the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock worth $30,000 after purchasing an additional 222 shares during the last quarter. Finally, Cedar Mountain Advisors LLC raised its stake in shares of ConocoPhillips by 58.0% in the third quarter. Cedar Mountain Advisors LLC now owns 316 shares of the energy producer’s stock worth $30,000 after purchasing an additional 116 shares during the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

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.