ConocoPhillips (NYSE:COP) Given New $117.00 Price Target at BMO Capital Markets

ConocoPhillips (NYSE:COP) had its price objective decreased by BMO Capital Markets from $122.00 to $117.00 in a research note issued to investors on Wednesday morning,MarketScreener reports. BMO Capital Markets currently has a buy rating on the energy producer’s stock.

A number of other equities analysts also recently commented on the company. Wells Fargo & Company began coverage on ConocoPhillips in a report on Friday, October 17th. They issued an “equal weight” rating and a $100.00 price objective on the stock. Wall Street Zen raised shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Mizuho cut their price target on shares of ConocoPhillips from $125.00 to $120.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. UBS Group decreased their price objective on shares of ConocoPhillips from $122.00 to $117.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Morgan Stanley cut their target price on shares of ConocoPhillips from $123.00 to $122.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 14th. Eighteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, ConocoPhillips currently has an average rating of “Moderate Buy” and an average price target of $115.33.

ConocoPhillips Trading Up 2.3%

NYSE:COP traded up $2.02 during trading hours on Wednesday, reaching $91.44. 7,627,851 shares of the company were exchanged, compared to its average volume of 7,690,728. The firm has a market cap of $112.99 billion, a price-to-earnings ratio of 12.27, a PEG ratio of 2.36 and a beta of 0.58. The stock has a 50 day simple moving average of $90.96 and a 200 day simple moving average of $91.94. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $115.38. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, November 6th. The energy producer reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.20. The company had revenue of $15.03 billion during the quarter, compared to analysts’ expectations of $14.51 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The business’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.78 EPS. As a group, analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Monday, November 17th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.78. ConocoPhillips’s dividend payout ratio is currently 47.52%.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, Director William H. Mcraven bought 5,768 shares of the company’s stock in a transaction dated Monday, November 10th. The shares were acquired at an average cost of $86.68 per share, with a total value of $499,970.24. Following the completion of the transaction, the director owned 5,768 shares in the company, valued at $499,970.24. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.24% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Capital International Investors increased its stake in ConocoPhillips by 18.2% during the third quarter. Capital International Investors now owns 45,645,397 shares of the energy producer’s stock valued at $4,318,239,000 after purchasing an additional 7,037,873 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in ConocoPhillips by 0.7% during the second quarter. Charles Schwab Investment Management Inc. now owns 40,382,724 shares of the energy producer’s stock worth $3,623,946,000 after acquiring an additional 287,970 shares during the period. Wellington Management Group LLP lifted its holdings in ConocoPhillips by 1.4% in the first quarter. Wellington Management Group LLP now owns 31,610,608 shares of the energy producer’s stock worth $3,319,746,000 after acquiring an additional 437,709 shares during the last quarter. Fisher Asset Management LLC boosted its stake in ConocoPhillips by 1.8% in the third quarter. Fisher Asset Management LLC now owns 14,653,966 shares of the energy producer’s stock valued at $1,386,119,000 after acquiring an additional 260,091 shares during the period. Finally, Ameriprise Financial Inc. grew its holdings in shares of ConocoPhillips by 31.4% during the second quarter. Ameriprise Financial Inc. now owns 10,778,664 shares of the energy producer’s stock valued at $966,267,000 after purchasing an additional 2,575,803 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

About ConocoPhillips

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.