Barclays PLC Reiterates Overweight Rating for ConocoPhillips (COP)
ConocoPhillips (NYSE:COP)‘s stock had its “overweight” rating reissued by analysts at Barclays PLC in a note issued to investors on Monday. They currently have a $60.00 target price on the stock. Barclays PLC’s price objective would suggest a potential upside of 35.17% from the company’s previous close.
A number of other research firms also recently issued reports on COP. Deutsche Bank AG restated a “buy” rating and issued a $62.00 price target on shares of ConocoPhillips in a research note on Thursday, June 16th. Zacks Investment Research upgraded ConocoPhillips from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a research report on Wednesday, July 13th. Jefferies Group reiterated a “sell” rating on shares of ConocoPhillips in a research report on Thursday, June 30th. Nomura reiterated a “hold” rating and set a $49.00 target price on shares of ConocoPhillips in a research report on Monday, October 3rd. Finally, Vetr downgraded ConocoPhillips from a “hold” rating to a “sell” rating and set a $40.39 target price on the stock. in a research report on Thursday, September 8th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $49.69.
Shares of ConocoPhillips (NYSE:COP) traded up 0.38% during trading on Monday, hitting $44.39. The stock had a trading volume of 9,102,066 shares. The company’s market cap is $54.98 billion. The stock has a 50 day moving average of $41.83 and a 200 day moving average of $42.79. ConocoPhillips has a 12 month low of $31.05 and a 12 month high of $57.24.
ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, July 28th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.61) by $0.18. The firm earned $5.58 billion during the quarter, compared to analysts’ expectations of $5.38 billion. ConocoPhillips had a negative return on equity of 9.26% and a negative net margin of 28.40%. The business’s quarterly revenue was down 35.6% on a year-over-year basis. During the same quarter last year, the business earned $0.07 earnings per share. Equities analysts forecast that ConocoPhillips will post ($2.47) EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Monday, October 17th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, October 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.25%. ConocoPhillips’s dividend payout ratio is -17.57%.
In other ConocoPhillips news, Director Arjun N. Murti bought 6,500 shares of the business’s stock in a transaction dated Monday, August 1st. The shares were purchased at an average price of $39.72 per share, with a total value of $258,180.00. Following the completion of the purchase, the director now owns 19,000 shares in the company, valued at approximately $754,680. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Ellen Desanctis bought 5,000 shares of the business’s stock in a transaction dated Thursday, August 11th. The shares were acquired at an average cost of $40.50 per share, for a total transaction of $202,500.00. Following the purchase, the vice president now owns 22,010 shares of the company’s stock, valued at approximately $891,405. The disclosure for this purchase can be found here. Insiders own 0.07% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in COP. MCF Advisors LLC raised its stake in shares of ConocoPhillips by 0.3% in the first quarter. MCF Advisors LLC now owns 3,865 shares of the company’s stock worth $156,000 after buying an additional 12 shares during the last quarter. Telemus Capital LLC raised its stake in shares of ConocoPhillips by 0.5% in the third quarter. Telemus Capital LLC now owns 6,435 shares of the company’s stock worth $280,000 after buying an additional 29 shares during the last quarter. Sequoia Financial Advisors LLC raised its stake in shares of ConocoPhillips by 0.3% in the second quarter. Sequoia Financial Advisors LLC now owns 13,780 shares of the company’s stock worth $601,000 after buying an additional 43 shares during the last quarter. NEXT Financial Group Inc raised its stake in shares of ConocoPhillips by 0.3% in the second quarter. NEXT Financial Group Inc now owns 17,453 shares of the company’s stock worth $760,000 after buying an additional 53 shares during the last quarter. Finally, GSA Capital Partners LLP raised its stake in shares of ConocoPhillips by 1.0% in the second quarter. GSA Capital Partners LLP now owns 6,526 shares of the company’s stock worth $285,000 after buying an additional 62 shares during the last quarter. 63.69% of the stock is currently owned by hedge funds and other institutional investors.
ConocoPhillips Company Profile
ConocoPhillips (ConocoPhillips) is an independent exploration and production company. The Company explores for, produces, transports and markets crude oil, bitumen, natural gas and liquefied natural gas (LNG). The Company operates through six operating segments, which are primarily defined by geographic region: Alaska; Lower 48; Canada; Europe and North Africa; Asia Pacific and Middle East, and Other International.
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