ConocoPhillips (COP) Rating Lowered to Buy at Vetr Inc.
ConocoPhillips (NYSE:COP) was downgraded by investment analysts at Vetr from a “strong-buy” rating to a “buy” rating in a report released on Tuesday. They presently have a $50.41 price target on the stock. Vetr‘s target price indicates a potential upside of 13.59% from the stock’s previous close.
Other equities analysts have also recently issued research reports about the company. Deutsche Bank AG reaffirmed a “buy” rating on shares of ConocoPhillips in a research note on Sunday, July 31st. Edward Jones raised ConocoPhillips from a “hold” rating to a “buy” rating in a research note on Monday, November 7th. Barclays PLC reaffirmed a “buy” rating and set a $60.00 target price on shares of ConocoPhillips in a research note on Tuesday, November 8th. Citigroup Inc. reaffirmed a “buy” rating on shares of ConocoPhillips in a research note on Sunday. Finally, Nomura reaffirmed a “hold” rating and set a $49.00 target price on shares of ConocoPhillips in a research note on Monday, October 3rd. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $50.87.
Shares of ConocoPhillips (NYSE:COP) opened at 44.38 on Tuesday. The firm’s 50 day moving average is $43.27 and its 200 day moving average is $42.73. ConocoPhillips has a 1-year low of $31.05 and a 1-year high of $55.61. The firm’s market capitalization is $54.99 billion.
ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, October 27th. The company reported ($0.66) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 quarter in the prior year, the firm posted ($0.38) EPS. Analysts anticipate that ConocoPhillips will post ($2.82) EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Monday, October 17th will be paid a $0.25 dividend. 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 payout ratio is -17.67%.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Raymond James Trust N.A. raised its position in shares of ConocoPhillips by 0.5% in the second quarter. Raymond James Trust N.A. now owns 37,635 shares of the company’s stock worth $1,640,000 after buying an additional 200 shares during the last quarter. Baxter Bros Inc. bought a new stake in shares of ConocoPhillips during the second quarter worth $1,171,000. Stock Yards Bank & Trust Co. boosted its stake in shares of ConocoPhillips by 150.6% in the second quarter. Stock Yards Bank & Trust Co. now owns 41,061 shares of the company’s stock worth $1,790,000 after buying an additional 24,678 shares during the period. Integrated Investment Consultants LLC boosted its stake in shares of ConocoPhillips by 25.0% in the second quarter. Integrated Investment Consultants LLC now owns 2,543 shares of the company’s stock worth $111,000 after buying an additional 509 shares during the period. Finally, Kovitz Investment Group Partners LLC bought a new stake in shares of ConocoPhillips during the first quarter worth $441,000. Institutional investors and hedge funds own 64.37% of the company’s stock.
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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