ValuEngine upgraded shares of ConocoPhillips (NYSE:COP) from a sell rating to a hold rating in a research note released on Monday.
COP has been the topic of several other research reports. Scotiabank set a $53.00 price objective on ConocoPhillips and gave the stock a buy rating in a report on Monday, March 27th. Royal Bank Of Canada set a $62.00 price objective on ConocoPhillips and gave the stock a buy rating in a report on Sunday, July 16th. Zacks Investment Research downgraded ConocoPhillips from a hold rating to a sell rating in a report on Monday, July 17th. BidaskClub raised ConocoPhillips from a strong sell rating to a sell rating in a report on Wednesday, June 14th. Finally, Jefferies Group LLC reaffirmed a hold rating and set a $55.00 price objective on shares of ConocoPhillips in a report on Friday, May 5th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $55.63.
Shares of ConocoPhillips (NYSE COP) traded up 3.03% during trading on Monday, hitting $43.90. The stock had a trading volume of 3,385,475 shares. The stock’s 50 day moving average is $44.21 and its 200 day moving average is $46.95. ConocoPhillips has a 52 week low of $38.80 and a 52 week high of $53.17. The stock’s market capitalization is $54.31 billion.
ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Tuesday, May 2nd. The energy producer reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by $0.05. ConocoPhillips had a negative return on equity of 5.92% and a negative net margin of 5.05%. The firm had revenue of $7.77 billion for the quarter, compared to analyst estimates of $7.47 billion. During the same period in the prior year, the company posted ($0.95) EPS. On average, equities research analysts expect that ConocoPhillips will post ($0.02) earnings per share for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Monday, July 24th will be issued a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date of this dividend is Thursday, July 20th. ConocoPhillips’s dividend payout ratio (DPR) is presently -95.50%.
ConocoPhillips declared that its board has initiated a share buyback program on Wednesday, March 29th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the energy producer to reacquire up to 5.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.
In other ConocoPhillips news, VP James D. Mcmorran sold 9,091 shares of the stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $47.47, for a total transaction of $431,549.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.82% of the stock is currently owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the company. Gemmer Asset Management LLC boosted its position in ConocoPhillips by 0.4% in the first quarter. Gemmer Asset Management LLC now owns 2,167 shares of the energy producer’s stock worth $108,000 after buying an additional 8 shares during the period. Financial Management Professionals Inc. boosted its position in ConocoPhillips by 0.3% in the first quarter. Financial Management Professionals Inc. now owns 2,288 shares of the energy producer’s stock worth $114,000 after buying an additional 6 shares during the period. First Command Bank boosted its position in ConocoPhillips by 9.4% in the second quarter. First Command Bank now owns 2,313 shares of the energy producer’s stock worth $101,000 after buying an additional 199 shares during the period. Advocacy Wealth Management Services LLC boosted its position in ConocoPhillips by 4.5% in the first quarter. Advocacy Wealth Management Services LLC now owns 2,329 shares of the energy producer’s stock worth $116,000 after buying an additional 100 shares during the period. Finally, Quadrant Capital Group LLC boosted its position in ConocoPhillips by 30.9% in the first quarter. Quadrant Capital Group LLC now owns 2,413 shares of the energy producer’s stock worth $109,000 after buying an additional 569 shares during the period. Hedge funds and other institutional investors own 67.74% 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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