Mizuho Cuts ConocoPhillips (NYSE:COP) Price Target to $125.00

ConocoPhillips (NYSE:COPFree Report) had its price target cut by Mizuho from $127.00 to $125.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have an outperform rating on the energy producer’s stock.

COP has been the subject of a number of other reports. Morgan Stanley lifted their price target on ConocoPhillips from $116.00 to $118.00 and gave the company an “overweight” rating in a report on Friday, May 9th. Royal Bank of Canada cut their price target on ConocoPhillips from $133.00 to $120.00 and set an “outperform” rating for the company in a report on Monday, April 14th. Wells Fargo & Company cut their price target on ConocoPhillips from $131.00 to $116.00 and set an “overweight” rating for the company in a report on Tuesday, April 15th. Susquehanna dropped their price objective on ConocoPhillips from $120.00 to $114.00 and set a “positive” rating for the company in a report on Monday. Finally, Bank of America cut ConocoPhillips from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $138.00 to $107.00 in a report on Tuesday, April 29th. Three analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $122.74.

Check Out Our Latest Stock Report on COP

ConocoPhillips Stock Performance

ConocoPhillips stock opened at $92.86 on Tuesday. The stock has a 50-day simple moving average of $93.30 and a 200 day simple moving average of $99.13. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $122.11. The stock has a market capitalization of $117.39 billion, a price-to-earnings ratio of 11.92, a P/E/G ratio of 0.79 and a beta of 0.64.

ConocoPhillips (NYSE:COPGet Free Report) last released its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.05 by $0.04. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. The business had revenue of $16.18 billion during the quarter, compared to analysts’ expectations of $15.74 billion. During the same period in the previous year, the business posted $2.05 earnings per share. On average, research analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be given a dividend of $0.78 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $3.12 annualized dividend and a dividend yield of 3.36%. ConocoPhillips’s payout ratio is currently 39.64%.

Hedge Funds Weigh In On ConocoPhillips

Institutional investors have recently modified their holdings of the stock. Harbor Capital Advisors Inc. grew its position in shares of ConocoPhillips by 8.6% in the 4th quarter. Harbor Capital Advisors Inc. now owns 1,790 shares of the energy producer’s stock valued at $178,000 after purchasing an additional 142 shares during the period. Aprio Wealth Management LLC grew its position in shares of ConocoPhillips by 5.8% in the 4th quarter. Aprio Wealth Management LLC now owns 2,249 shares of the energy producer’s stock valued at $223,000 after purchasing an additional 124 shares during the period. Trust Co. of Toledo NA OH grew its position in shares of ConocoPhillips by 11.9% in the 4th quarter. Trust Co. of Toledo NA OH now owns 7,394 shares of the energy producer’s stock valued at $733,000 after purchasing an additional 787 shares during the period. Brookstone Capital Management grew its position in shares of ConocoPhillips by 4.5% in the 4th quarter. Brookstone Capital Management now owns 8,855 shares of the energy producer’s stock valued at $878,000 after purchasing an additional 383 shares during the period. Finally, Capital Investment Advisors LLC grew its position in shares of ConocoPhillips by 1.8% in the 4th quarter. Capital Investment Advisors LLC now owns 17,629 shares of the energy producer’s stock valued at $1,748,000 after purchasing an additional 311 shares during the period. 82.36% of the stock is currently owned by institutional investors and hedge funds.

About ConocoPhillips

(Get Free Report)

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.

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Analyst Recommendations for ConocoPhillips (NYSE:COP)

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