ConocoPhillips (NYSE:COP) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of ConocoPhillips (NYSE:COP) from a hold rating to a buy rating in a research report released on Thursday.

Several other brokerages have also issued reports on COP. Mizuho lowered their target price on ConocoPhillips from $142.00 to $132.00 and set a neutral rating for the company in a research report on Wednesday, June 5th. Bank of America reaffirmed a buy rating and set a $147.00 target price on shares of ConocoPhillips in a research report on Friday, June 14th. Morgan Stanley raised their target price on ConocoPhillips from $123.00 to $129.00 and gave the stock an overweight rating in a research report on Thursday, March 28th. Scotiabank raised their target price on ConocoPhillips from $120.00 to $135.00 and gave the stock a sector perform rating in a research report on Thursday, April 11th. Finally, Royal Bank of Canada lifted their price objective on ConocoPhillips from $135.00 to $140.00 and gave the stock an outperform rating in a research report on Wednesday, May 15th. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $144.18.

ConocoPhillips Trading Up 0.4 %

NYSE COP opened at $114.38 on Thursday. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.35. ConocoPhillips has a twelve month low of $99.35 and a twelve month high of $135.18. The company has a market cap of $133.77 billion, a price-to-earnings ratio of 12.95, a price-to-earnings-growth ratio of 2.04 and a beta of 1.22. The business’s fifty day moving average is $118.30 and its 200 day moving average is $117.62.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, May 2nd. The energy producer reported $2.03 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.04. The company had revenue of $14.48 billion for the quarter, compared to the consensus estimate of $14.72 billion. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. As a group, sell-side analysts expect that ConocoPhillips will post 8.89 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 13th were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date was Friday, May 10th. ConocoPhillips’s dividend payout ratio (DPR) is currently 26.27%.

Institutional Trading of ConocoPhillips

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Orion Capital Management LLC bought a new stake in ConocoPhillips during the 3rd quarter worth approximately $27,000. West Branch Capital LLC grew its holdings in shares of ConocoPhillips by 87.8% in the fourth quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock valued at $27,000 after acquiring an additional 108 shares in the last quarter. Cooksen Wealth LLC bought a new position in shares of ConocoPhillips in the fourth quarter valued at approximately $27,000. Sachetta LLC bought a new position in shares of ConocoPhillips in the fourth quarter valued at approximately $27,000. Finally, Richardson Capital Management LLC bought a new position in shares of ConocoPhillips in the first quarter valued at approximately $31,000. 82.36% of the stock is owned by institutional investors.

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.