ConocoPhillips (NYSE:COP) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• ConocoPhillips has received a consensus rating of "Moderate Buy" from 20 brokerages, with an average 12-month price target set at $120.14.
• The company reported earnings of $1.42 per share for the last quarter, exceeding expectations by $0.06, along with a revenue of $14.94 billion.
• ConocoPhillips recently announced a quarterly dividend of $0.78 per share, indicating a 3.4% yield from an annualized dividend payout of $3.12.

ConocoPhillips (NYSE:COP - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the twenty brokerages that are currently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $120.1429.

COP has been the topic of several recent research reports. Mizuho reduced 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. Wall Street Zen raised shares of ConocoPhillips from a "sell" rating to a "hold" rating in a report on Saturday. Piper Sandler upped their price target on shares of ConocoPhillips from $123.00 to $124.00 and gave the company an "overweight" rating in a report on Monday, August 18th. Citigroup reduced their price target on shares of ConocoPhillips from $140.00 to $115.00 and set a "buy" rating on the stock in a report on Wednesday, June 11th. Finally, Melius began coverage on shares of ConocoPhillips in a report on Wednesday, August 20th. They issued a "hold" rating and a $117.00 price target on the stock.

Hedge Funds Weigh In On ConocoPhillips

Several institutional investors and hedge funds have recently modified their holdings of COP. Formidable Asset Management LLC lifted its stake in shares of ConocoPhillips by 22.9% during the fourth quarter. Formidable Asset Management LLC now owns 3,385 shares of the energy producer's stock valued at $336,000 after buying an additional 630 shares during the period. Ameriflex Group Inc. acquired a new position in ConocoPhillips during the fourth quarter worth approximately $156,000. Integrated Advisors Network LLC increased its position in ConocoPhillips by 30.1% during the fourth quarter. Integrated Advisors Network LLC now owns 18,462 shares of the energy producer's stock worth $1,831,000 after purchasing an additional 4,271 shares during the last quarter. Armis Advisers LLC acquired a new position in ConocoPhillips during the fourth quarter worth approximately $340,000. Finally, Leigh Baldwin & CO. LLC acquired a new position in ConocoPhillips during the fourth quarter worth approximately $255,000. Hedge funds and other institutional investors own 82.36% of the company's stock.

ConocoPhillips Stock Up 0.2%

Shares of NYSE COP opened at $92.11 on Tuesday. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $116.08. The company has a market capitalization of $115.04 billion, a PE ratio of 12.36, a price-to-earnings-growth ratio of 2.42 and a beta of 0.69. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10. The firm's 50-day moving average is $94.55 and its two-hundred day moving average is $92.98.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.06. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The company had revenue of $14.94 billion for the quarter, compared to the consensus estimate of $14.39 billion. During the same quarter in the prior year, the firm earned $1.98 earnings per share. The company's revenue for the quarter was up 4.3% compared to the same quarter last year. Equities analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were paid a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a $3.12 annualized dividend and a dividend yield of 3.4%. ConocoPhillips's dividend payout ratio is presently 41.88%.

ConocoPhillips Company Profile

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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