Shares of ConocoPhillips (NYSE:COP) have received an average rating of “Hold” from the twenty-eight brokerages that are presently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $54.60.
Several analysts have commented on COP shares. BidaskClub raised shares of ConocoPhillips from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. Royal Bank Of Canada reissued a “buy” rating and issued a $62.00 price target on shares of ConocoPhillips in a research report on Thursday, June 15th. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and issued a $52.00 price target on shares of ConocoPhillips in a research report on Thursday, June 22nd. Scotiabank set a $54.00 price target on shares of ConocoPhillips and gave the company a “buy” rating in a research report on Saturday, July 1st. Finally, Sanford C. Bernstein lowered shares of ConocoPhillips from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $63.00 to $42.00 in a research report on Thursday, July 6th.
A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in ConocoPhillips by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 90,547,596 shares of the energy producer’s stock worth $3,980,473,000 after buying an additional 1,694,618 shares in the last quarter. BlackRock Inc. grew its stake in ConocoPhillips by 7.8% in the 2nd quarter. BlackRock Inc. now owns 85,821,694 shares of the energy producer’s stock worth $3,772,723,000 after buying an additional 6,197,896 shares in the last quarter. State Street Corp grew its stake in ConocoPhillips by 3.9% in the 1st quarter. State Street Corp now owns 65,388,296 shares of the energy producer’s stock worth $3,260,918,000 after buying an additional 2,452,533 shares in the last quarter. FMR LLC grew its stake in ConocoPhillips by 6.9% in the 1st quarter. FMR LLC now owns 61,497,903 shares of the energy producer’s stock worth $3,066,900,000 after buying an additional 3,982,002 shares in the last quarter. Finally, Macquarie Group Ltd. grew its stake in ConocoPhillips by 1.1% in the 1st quarter. Macquarie Group Ltd. now owns 15,981,830 shares of the energy producer’s stock worth $797,013,000 after buying an additional 176,055 shares in the last quarter. 68.90% of the stock is owned by institutional investors and hedge funds.
Shares of ConocoPhillips (NYSE:COP) traded up 0.83% on Friday, reaching $49.60. 4,533,271 shares of the company were exchanged. ConocoPhillips has a 12-month low of $40.37 and a 12-month high of $53.17. The company’s 50 day moving average is $46.68 and its 200 day moving average is $46.01. The firm’s market capitalization is $60.36 billion.
ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, July 27th. The energy producer reported $0.14 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.16. The business had revenue of $8.88 billion for the quarter, compared to analyst estimates of $6.74 billion. ConocoPhillips had a negative net margin of 12.29% and a negative return on equity of 2.86%. During the same quarter in the previous year, the firm posted ($0.79) earnings per share. Analysts forecast that ConocoPhillips will post $0.29 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Monday, October 16th will be paid a $0.265 dividend. The ex-dividend date is Friday, October 13th. This represents a $1.06 dividend on an annualized basis and a yield of 2.14%. ConocoPhillips’s dividend payout ratio is presently -34.98%.
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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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