Barclays PLC Reiterates Overweight Rating for ConocoPhillips (COP)
A number of other equities research analysts also recently weighed in on the company. Deutsche Bank AG restated a buy rating and set a $62.00 price target on shares of ConocoPhillips in a research report on Thursday, June 16th. Jefferies Group restated a sell rating on shares of ConocoPhillips in a research report on Thursday, June 30th. Nomura restated a hold rating and set a $49.00 price target on shares of ConocoPhillips in a research report on Monday, October 3rd. Vetr downgraded ConocoPhillips from a hold rating to a sell rating and set a $40.39 price target on the stock. in a research report on Thursday, September 8th. Finally, JPMorgan Chase & Co. upgraded ConocoPhillips from an underweight rating to a neutral rating and set a $44.00 price target on the stock in a research report on Monday, July 11th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $49.69.
ConocoPhillips (NYSE:COP) opened at 42.15 on Monday. The stock has a 50 day moving average price of $41.83 and a 200-day moving average price of $42.79. The firm’s market capitalization is $52.20 billion. ConocoPhillips has a 52 week low of $31.05 and a 52 week high of $57.24.
ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, July 28th. The company reported ($0.79) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.61) by $0.18. ConocoPhillips had a negative net margin of 28.40% and a negative return on equity of 9.26%. The firm had revenue of $5.58 billion for the quarter, compared to analysts’ expectations of $5.38 billion. During the same quarter in the previous year, the business earned $0.07 EPS. The company’s revenue for the quarter was down 35.6% on a year-over-year basis. Analysts anticipate that ConocoPhillips will post ($2.47) EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Monday, October 17th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, October 13th. This represents a $1.00 annualized dividend and a dividend yield of 2.37%. ConocoPhillips’s payout ratio is -17.57%.
In other news, VP Ellen Desanctis acquired 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 11th. The stock was bought at an average cost of $40.50 per share, for a total transaction of $202,500.00. Following the acquisition, the vice president now directly owns 22,010 shares in the company, valued at $891,405. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Arjun N. Murti acquired 6,500 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The stock was purchased at an average price of $39.72 per share, with a total value of $258,180.00. Following the completion of the acquisition, the director now owns 19,000 shares in the company, valued at $754,680. The disclosure for this purchase can be found here. Insiders own 0.07% of the company’s stock.
A number of institutional investors have recently made changes to their positions in COP. Vanguard Group Inc. raised its position in shares of ConocoPhillips by 2.4% in the second quarter. Vanguard Group Inc. now owns 81,195,111 shares of the company’s stock worth $3,540,106,000 after buying an additional 1,937,880 shares during the last quarter. State Street Corp raised its position in shares of ConocoPhillips by 4.2% in the first quarter. State Street Corp now owns 56,542,943 shares of the company’s stock worth $2,276,976,000 after buying an additional 2,293,983 shares during the last quarter. FMR LLC raised its position in shares of ConocoPhillips by 61.3% in the second quarter. FMR LLC now owns 41,549,843 shares of the company’s stock worth $1,811,573,000 after buying an additional 15,793,307 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of ConocoPhillips by 1.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 32,736,116 shares of the company’s stock worth $1,318,283,000 after buying an additional 522,198 shares during the last quarter. Finally, BlackRock Fund Advisors raised its position in shares of ConocoPhillips by 2.1% in the second quarter. BlackRock Fund Advisors now owns 19,228,815 shares of the company’s stock worth $838,376,000 after buying an additional 392,818 shares during the last quarter. Institutional investors own 63.69% of the company’s stock.
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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