Jefferies Group Analysts Raise Earnings Estimates for ConocoPhillips (COP)
ConocoPhillips (NYSE:COP) – Stock analysts at Jefferies Group increased their FY2017 earnings estimates for ConocoPhillips in a research note issued on Monday. Jefferies Group analyst J. Gammel now forecasts that the brokerage will earn $0.47 per share for the year, up from their previous estimate of $0.45. Jefferies Group currently has a “Hold” rating and a $46.00 price target on the stock. Jefferies Group also issued estimates for ConocoPhillips’ FY2018 earnings at $2.63 EPS.
Several other research firms have also recently commented on COP. Vetr upgraded shares of ConocoPhillips from a “buy” rating to a “strong-buy” rating and set a $50.61 target price for the company in a research report on Tuesday, November 8th. RBC Capital Markets restated an “outperform” rating and issued a $53.00 target price (up previously from $52.00) on shares of ConocoPhillips in a research report on Monday, October 31st. Credit Suisse Group AG restated a “neutral” rating on shares of ConocoPhillips in a research report on Tuesday, September 6th. JPMorgan Chase & Co. upgraded shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and set a $51.00 target price for the company in a research report on Monday, September 12th. Finally, Credit Agricole SA cut shares of ConocoPhillips from an “outperform” rating to an “underperform” rating in a research report on Tuesday. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $50.87.
ConocoPhillips (NYSE:COP) opened at 45.16 on Tuesday. The company’s 50 day moving average price is $42.87 and its 200 day moving average price is $42.84. ConocoPhillips has a 12 month low of $31.05 and a 12 month high of $55.61. The firm’s market capitalization is $55.95 billion.
ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, October 27th. The company reported ($0.66) earnings per share (EPS) for the quarter, beating the Zacks’ 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 prior year, the business posted ($0.38) earnings per share.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Nisa Investment Advisors LLC raised its position in shares of 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 period. Guinness Asset Management Ltd acquired a new position in shares of ConocoPhillips during the second quarter valued at approximately $10,726,000. Strs Ohio raised its position in shares of 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 period. Alps Advisors Inc. raised its position in shares of 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 period. Finally, Flossbach Von Storch AG raised its position in shares of 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 period. Institutional investors own 64.37% of the company’s stock.
The firm also recently declared 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 is Thursday, October 13th. This represents a $1.00 annualized dividend and a dividend yield of 2.21%. ConocoPhillips’s dividend payout ratio (DPR) is -17.67%.
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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