Scotiabank reaffirmed their buy rating on shares of ConocoPhillips (NYSE:COP) in a report issued on Friday morning. Scotiabank currently has a $53.00 target price on the energy producer’s stock.

A number of other equities research analysts also recently issued reports on the stock. J P Morgan Chase & Co reissued an overweight rating on shares of ConocoPhillips in a research report on Saturday, September 16th. Jefferies Group LLC set a $54.00 price objective on shares of ConocoPhillips and gave the company a buy rating in a research report on Tuesday, August 29th. Piper Jaffray Companies set a $45.00 price objective on shares of ConocoPhillips and gave the company a buy rating in a research report on Friday, August 25th. Royal Bank Of Canada set a $54.00 price objective on shares of ConocoPhillips and gave the company a buy rating in a research report on Thursday, August 24th. Finally, BidaskClub downgraded shares of ConocoPhillips from a hold rating to a sell rating in a research report on Thursday, August 17th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. ConocoPhillips currently has a consensus rating of Buy and an average target price of $54.24.

ConocoPhillips (NYSE COP) traded up 0.10% during trading on Friday, hitting $50.05. The stock had a trading volume of 4,175,661 shares. The company has a 50-day moving average price of $44.59 and a 200-day moving average price of $45.61. The company’s market cap is $60.91 billion. ConocoPhillips has a 52-week low of $39.00 and a 52-week high of $53.17.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, July 27th. The energy producer reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.16. ConocoPhillips had a negative net margin of 12.29% and a negative return on equity of 2.86%. The firm had revenue of $8.88 billion during the quarter, compared to the consensus estimate of $6.74 billion. During the same quarter in the previous year, the firm posted ($0.79) EPS. Equities research analysts forecast that ConocoPhillips will post $0.27 EPS for the current year.

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The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Monday, July 24th were issued a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date was Thursday, July 20th. ConocoPhillips’s dividend payout ratio is presently -34.98%.

A number of institutional investors have recently added to or reduced their stakes in the business. Financial Management Professionals Inc. boosted its holdings in ConocoPhillips by 0.3% in the second quarter. Financial Management Professionals Inc. now owns 2,294 shares of the energy producer’s stock worth $100,000 after purchasing an additional 6 shares during the period. Canal Capital Management LLC boosted its holdings in ConocoPhillips by 0.3% in the second quarter. Canal Capital Management LLC now owns 6,342 shares of the energy producer’s stock worth $279,000 after purchasing an additional 22 shares during the period. Wendell David Associates Inc. boosted its holdings in ConocoPhillips by 0.3% in the second quarter. Wendell David Associates Inc. now owns 7,561 shares of the energy producer’s stock worth $332,000 after purchasing an additional 26 shares during the period. Sheets Smith Wealth Management boosted its holdings in ConocoPhillips by 0.3% in the second quarter. Sheets Smith Wealth Management now owns 13,694 shares of the energy producer’s stock worth $602,000 after purchasing an additional 37 shares during the period. Finally, Cornerstone Advisors Inc. boosted its holdings in ConocoPhillips by 1.0% in the second quarter. Cornerstone Advisors Inc. now owns 3,755 shares of the energy producer’s stock worth $165,000 after purchasing an additional 37 shares during the period. 68.90% of the stock is owned by hedge funds and other institutional investors.

About ConocoPhillips

ConocoPhillips is an independent exploration and production company. The Company explores for, produces, transports and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG) and natural gas liquids. The Company operates through five segments: Alaska, Lower 48, Canada, Europe and North Africa, Asia Pacific and Middle East, and Other International.

Analyst Recommendations for ConocoPhillips (NYSE:COP)

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