Mizuho Analysts Give ConocoPhillips (COP) a $68.00 Price Target
A number of other research firms have also issued reports on COP. Goldman Sachs Group lowered ConocoPhillips from a buy rating to a neutral rating in a research note on Monday, October 1st. Citigroup upped their target price on ConocoPhillips from $80.00 to $90.00 and gave the company a buy rating in a research note on Friday, October 5th. Morgan Stanley lowered ConocoPhillips to a hold rating in a research note on Tuesday, October 2nd. Zacks Investment Research raised ConocoPhillips from a hold rating to a buy rating and set a $88.00 target price on the stock in a research note on Monday, October 8th. Finally, Royal Bank of Canada lowered ConocoPhillips from an outperform rating to a sector perform rating and set a $90.00 target price on the stock. in a research note on Thursday, September 20th. They noted that the move was a valuation call. Ten analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $74.63.
COP stock opened at $66.61 on Monday. ConocoPhillips has a 1 year low of $50.08 and a 1 year high of $80.24. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.82 and a current ratio of 1.99. The company has a market capitalization of $77.04 billion, a P/E ratio of 111.02, a P/E/G ratio of 1.57 and a beta of 1.22.
The firm also recently declared a quarterly dividend, which was paid on Monday, December 3rd. Shareholders of record on Monday, October 15th were issued a $0.305 dividend. The ex-dividend date was Friday, October 12th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.29. This represents a $1.22 annualized dividend and a yield of 1.83%. ConocoPhillips’s payout ratio is 203.33%.
In other ConocoPhillips news, VP Glenda Mae Schwarz sold 18,882 shares of the business’s stock in a transaction on Monday, September 10th. The stock was sold at an average price of $71.15, for a total value of $1,343,454.30. Following the completion of the transaction, the vice president now directly owns 29,064 shares in the company, valued at approximately $2,067,903.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.88% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in COP. Bell Rock Capital LLC acquired a new stake in shares of ConocoPhillips during the 3rd quarter worth $105,000. Central Bank & Trust Co. increased its holdings in shares of ConocoPhillips by 1,006.7% during the 3rd quarter. Central Bank & Trust Co. now owns 1,660 shares of the energy producer’s stock worth $128,000 after buying an additional 1,510 shares during the last quarter. Palo Capital Inc. acquired a new stake in shares of ConocoPhillips during the 3rd quarter worth $131,000. Adviser Investments LLC increased its holdings in shares of ConocoPhillips by 139.4% during the 2nd quarter. Adviser Investments LLC now owns 1,956 shares of the energy producer’s stock worth $136,000 after buying an additional 1,139 shares during the last quarter. Finally, Lucia Wealth Services LLC increased its holdings in shares of ConocoPhillips by 541.3% during the 2nd quarter. Lucia Wealth Services LLC now owns 2,251 shares of the energy producer’s stock worth $157,000 after buying an additional 1,900 shares during the last quarter. Institutional investors and hedge funds own 71.89% of the company’s stock.
ConocoPhillips Company Profile
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. Its portfolio includes North American tight oil and oil sands assets in Canada; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; and an inventory of conventional and unconventional exploration prospects.
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