ConocoPhillips (COP) Stock Rating Reaffirmed by Barclays PLC
ConocoPhillips (NYSE:COP)‘s stock had its “buy” rating reaffirmed by equities research analysts at Barclays PLC in a research report issued on Tuesday. They currently have a $60.00 price target on the stock. Barclays PLC’s price objective suggests a potential upside of 31.20% from the stock’s current price.
A number of other research analysts have also issued reports on the company. Edward Jones upgraded ConocoPhillips from a “hold” rating to a “buy” rating in a research report on Monday. Zacks Investment Research lowered ConocoPhillips from a “hold” rating to a “sell” rating in a research report on Monday, October 24th. Piper Jaffray Cos. upgraded ConocoPhillips from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $44.00 to $53.00 in a research report on Friday, October 28th. Deutsche Bank AG reiterated a “buy” rating on shares of ConocoPhillips in a research report on Sunday, July 31st. Finally, Jefferies Group upgraded ConocoPhillips from an “underperform” rating to a “hold” rating and boosted their price target for the stock from $30.00 to $40.00 in a research report on Wednesday, September 7th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $50.58.
Shares of ConocoPhillips (NYSE:COP) traded down 1.66% on Tuesday, hitting $44.97. The stock had a trading volume of 3,648,268 shares. The company’s 50-day moving average price is $42.66 and its 200 day moving average price is $42.84. The firm’s market cap is $55.72 billion. ConocoPhillips has a 12-month low of $31.05 and a 12-month high of $55.61.
ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, October 27th. The company reported ($0.66) EPS for the quarter, topping the consensus estimate of ($0.69) by $0.03. ConocoPhillips had a negative return on equity of 10.68% and a negative net margin of 29.45%. During the same period last year, the business posted ($0.38) earnings per share. On average, equities research analysts forecast that ConocoPhillips will post ($2.80) earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Monday, October 17th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, October 13th. This represents a $1.00 annualized dividend and a dividend yield of 2.19%. ConocoPhillips’s dividend payout ratio is presently -17.67%.
Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in ConocoPhillips by 2.4% in the second quarter. Vanguard Group Inc. now owns 81,195,111 shares of the company’s stock valued at $3,540,106,000 after buying an additional 1,937,880 shares during the period. FMR LLC boosted its position in ConocoPhillips by 61.3% in the second quarter. FMR LLC now owns 41,549,843 shares of the company’s stock valued at $1,811,573,000 after buying an additional 15,793,307 shares during the period. BlackRock Institutional Trust Company N.A. boosted its position in ConocoPhillips by 3.7% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 33,707,193 shares of the company’s stock valued at $1,465,252,000 after buying an additional 1,196,214 shares during the period. BlackRock Fund Advisors boosted its position in ConocoPhillips by 1.1% in the third quarter. BlackRock Fund Advisors now owns 19,445,358 shares of the company’s stock valued at $845,290,000 after buying an additional 216,543 shares during the period. Finally, Northern Trust Corp boosted its position in ConocoPhillips by 1.4% in the third quarter. Northern Trust Corp now owns 15,540,730 shares of the company’s stock valued at $675,555,000 after buying an additional 209,216 shares during the period. 63.75% of the stock is owned by institutional investors and hedge funds.
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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