ConocoPhillips’ (COP) Overweight Rating Reiterated at J P Morgan Chase & Co

J P Morgan Chase & Co reissued their overweight rating on shares of ConocoPhillips (NYSE:COP) in a research report released on Saturday morning.

Other research analysts have also recently issued research reports about the company. Wolfe Research cut ConocoPhillips from an outperform rating to a market perform rating in a research note on Monday, July 17th. Scotiabank set a $54.00 price target on ConocoPhillips and gave the stock a buy rating in a research note on Saturday, July 1st. ValuEngine upgraded ConocoPhillips from a sell rating to a hold rating in a research note on Monday, July 24th. BidaskClub cut ConocoPhillips from a sell rating to a strong sell rating in a research note on Tuesday, June 27th. Finally, Citigroup Inc. cut their price target on ConocoPhillips from $65.00 to $57.00 and set a buy rating on the stock in a research note on Friday, July 21st. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. ConocoPhillips currently has a consensus rating of Buy and a consensus price target of $54.19.

ConocoPhillips (NYSE:COP) opened at 47.09 on Friday. The stock’s market cap is $57.31 billion. The stock has a 50 day moving average price of $44.53 and a 200-day moving average price of $45.62. ConocoPhillips has a 12-month low of $39.00 and a 12-month high of $53.17.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, July 27th. The energy producer reported $0.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.16. ConocoPhillips had a negative return on equity of 42.04% and a negative net margin of 50.55%. The business had revenue of $8.88 billion for the quarter, compared to analysts’ expectations of $6.74 billion. During the same quarter in the previous year, the firm posted ($0.79) earnings per share. On average, equities analysts expect that ConocoPhillips will post $0.26 earnings per share for the current year.

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The business also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Monday, July 24th were issued a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 2.25%. The ex-dividend date was Thursday, July 20th. ConocoPhillips’s dividend payout ratio (DPR) is presently -34.98%.

Large investors have recently bought and sold shares of the company. Financial Management Professionals Inc. grew its holdings in shares of ConocoPhillips by 0.3% during the second quarter. Financial Management Professionals Inc. now owns 2,294 shares of the energy producer’s stock valued at $100,000 after purchasing an additional 6 shares during the last quarter. First Command Bank grew its holdings in shares of ConocoPhillips by 9.4% during the second quarter. First Command Bank now owns 2,313 shares of the energy producer’s stock valued at $101,000 after purchasing an additional 199 shares during the last quarter. Krilogy Financial LLC grew its holdings in shares of ConocoPhillips by 48.6% during the second quarter. Krilogy Financial LLC now owns 2,392 shares of the energy producer’s stock valued at $105,000 after purchasing an additional 782 shares during the last quarter. Westside Investment Management Inc. grew its holdings in shares of ConocoPhillips by 468.4% during the first quarter. Westside Investment Management Inc. now owns 2,427 shares of the energy producer’s stock valued at $119,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Advantage Investment Management LLC grew its holdings in ConocoPhillips by 65.3% in the 1st quarter. Advantage Investment Management LLC now owns 2,425 shares of the energy producer’s stock worth $121,000 after buying an additional 958 shares in the last quarter. 68.90% of the stock is owned by institutional investors.

About ConocoPhillips

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.

Analyst Recommendations for ConocoPhillips (NYSE:COP)

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