ConocoPhillips (NYSE: COP) has recently received a number of price target changes and ratings updates:

  • 8/1/2017 – ConocoPhillips was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “ConocoPhillips is one of the largest exploration and production players in the world, based on proved reserves and production. During the second quarter, the company reported strong results following higher realized prices from commodities sold and production ramp up from numerous key developments. We appreciate the company’s initiative to divest assets worth $16 billion in 2017 and divert the proceeds toward oil-rich Eagle Ford shale and Permian Basin. ConocoPhillips owns significant undrilled locations in the Eagle Ford shale that could lend access to huge oil reserves. Also, the company’s net cash flow from operations have been rising steadily since the beginning of 2017. However, we are concerned about the company’s escalating debt levels. It is to be noted that at the end of second-quarter 2017, ConocoPhillips had only $7.5 billion in cash and cash equivalents, while its debt climbed to $23.5 billion.”
  • 8/1/2017 – ConocoPhillips was given a new $54.00 price target on by analysts at Scotiabank. They now have a “buy” rating on the stock.
  • 7/31/2017 – ConocoPhillips was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 7/30/2017 – ConocoPhillips was given a new $59.00 price target on by analysts at Jefferies Group LLC. They now have a “buy” rating on the stock.
  • 7/28/2017 – ConocoPhillips was upgraded by analysts at Bank of America Corporation from a “neutral” rating to a “buy” rating. They now have a $58.00 price target on the stock, up previously from $51.00.
  • 7/24/2017 – ConocoPhillips was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 7/21/2017 – ConocoPhillips had its price target lowered by analysts at Citigroup Inc. from $65.00 to $57.00. They now have a “buy” rating on the stock.
  • 7/18/2017 – ConocoPhillips was given a new $55.00 price target on by analysts at Cowen and Company. They now have a “buy” rating on the stock.
  • 7/17/2017 – ConocoPhillips was downgraded by analysts at Wolfe Research from an “outperform” rating to a “market perform” rating.
  • 7/17/2017 – ConocoPhillips was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Being a firm in the exploration and production industry, ConocoPhillips’ profitability has expectedly been hit by this weakly priced oil and gas market. As a result, the company’s revenue has been decreasing at a CAGR of 33.8% over the last three years. We are concerned about the company’s escalating debt levels. It is to be noted that at the end of first-quarter 2017, ConocoPhillips had only $3.1 billion in cash and cash equivalents, while its debt had climbed to $26.4 billion. Moreover, the company’s cash flow is expected to remain tight even after the capital-expenditure reductions. Hence, we do not see any improvement in the company’s upstream operations unless there’s a recovery in commodity prices.”
  • 7/16/2017 – ConocoPhillips was given a new $62.00 price target on by analysts at Royal Bank Of Canada. They now have a “buy” rating on the stock.
  • 7/6/2017 – ConocoPhillips was downgraded by analysts at Sanford C. Bernstein from an “outperform” rating to a “market perform” rating. They now have a $42.00 price target on the stock, down previously from $63.00.
  • 7/1/2017 – ConocoPhillips was given a new $54.00 price target on by analysts at Scotiabank. They now have a “buy” rating on the stock.
  • 6/27/2017 – ConocoPhillips was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 6/22/2017 – ConocoPhillips had its “neutral” rating reaffirmed by analysts at Goldman Sachs Group, Inc. (The). They now have a $52.00 price target on the stock.
  • 6/15/2017 – ConocoPhillips had its “buy” rating reaffirmed by analysts at Royal Bank Of Canada. They now have a $62.00 price target on the stock.
  • 6/14/2017 – ConocoPhillips was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.

ConocoPhillips (COP) traded down 1.49% during mid-day trading on Thursday, reaching $44.97. The company had a trading volume of 6,441,371 shares. ConocoPhillips has a 52-week low of $39.00 and a 52-week high of $53.17. The company’s 50 day moving average is $44.17 and its 200 day moving average is $46.54. The stock’s market capitalization is $54.73 billion.

ConocoPhillips (NYSE:COP) last posted its earnings results 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 company had revenue of $8.88 billion during the quarter, compared to analysts’ expectations of $6.74 billion. During the same quarter in the previous year, the company posted ($0.79) earnings per share. Equities analysts predict that ConocoPhillips will post $0.25 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Monday, July 24th will be paid a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date is Thursday, July 20th. ConocoPhillips’s dividend payout ratio (DPR) is currently -34.98%.

In other news, VP James D. Mcmorran sold 9,091 shares of ConocoPhillips stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $47.47, for a total value of $431,549.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.82% of the company’s stock.

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.

Receive News & Ratings for ConocoPhillips Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ConocoPhillips and related companies with MarketBeat.com's FREE daily email newsletter.