ConocoPhillips (COP) Stock Rating Reaffirmed by Citigroup Inc.
ConocoPhillips (NYSE:COP)‘s stock had its “buy” rating reaffirmed by equities research analysts at Citigroup Inc. in a report issued on Sunday.
Other equities research analysts have also recently issued reports about the stock. Vetr upgraded shares of ConocoPhillips from a “buy” rating to a “strong-buy” rating and set a $50.61 price objective for the company in a research report on Monday. Royal Bank Of Canada increased their target price on shares of ConocoPhillips from $52.00 to $53.00 and gave the stock an “outperform” rating in a research note on Monday, October 31st. Jefferies Group raised shares of ConocoPhillips from an “underperform” rating to a “hold” rating and increased their target price for the stock from $30.00 to $40.00 in a research note on Wednesday, September 7th. They noted that the move was a valuation call. Credit Suisse Group AG reissued a “neutral” rating on shares of ConocoPhillips in a research note on Tuesday, September 6th. Finally, RBC Capital Markets reissued an “outperform” rating and set a $53.00 target price (up from $52.00) on shares of ConocoPhillips in a research note on Monday, October 31st. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $50.58.
ConocoPhillips (NYSE:COP) traded down 1.88% on Friday, hitting $43.94. 8,155,543 shares of the stock traded hands. The firm’s market capitalization is $54.44 billion. The stock has a 50 day moving average of $42.87 and a 200 day moving average of $42.84. ConocoPhillips has a 52 week low of $31.05 and a 52 week high of $55.61.
ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, October 27th. The company reported ($0.66) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.69) by $0.03. ConocoPhillips had a negative net margin of 29.45% and a negative return on equity of 10.68%. During the same quarter in the previous year, the firm earned ($0.38) earnings per share. Equities research analysts anticipate that ConocoPhillips will post ($2.80) earnings per share for the current 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 $0.25 dividend. The ex-dividend date is Thursday, October 13th. This represents a $1.00 annualized dividend and a dividend yield of 2.28%. ConocoPhillips’s payout ratio is -17.67%.
Several institutional investors have recently bought and sold shares of the company. Nisa Investment Advisors LLC increased its position in ConocoPhillips by 1.7% in the second quarter. Nisa Investment Advisors LLC now owns 457,168 shares of the company’s stock valued at $19,933,000 after buying an additional 7,636 shares during the last quarter. Guinness Asset Management Ltd acquired a new position in ConocoPhillips during the second quarter valued at $10,726,000. Strs Ohio increased its position in ConocoPhillips by 1.1% in the second quarter. Strs Ohio now owns 1,004,958 shares of the company’s stock valued at $43,816,000 after buying an additional 10,603 shares during the last quarter. Alps Advisors Inc. increased its position in ConocoPhillips by 9.6% in the second quarter. Alps Advisors Inc. now owns 591,017 shares of the company’s stock valued at $25,768,000 after buying an additional 51,946 shares during the last quarter. Finally, Flossbach Von Storch AG increased its position in ConocoPhillips by 0.6% in the second quarter. Flossbach Von Storch AG now owns 265,000 shares of the company’s stock valued at $11,554,000 after buying an additional 1,700 shares during the last quarter. Hedge funds and other institutional investors own 63.75% of the company’s stock.
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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