ConocoPhillips (NYSE:COP) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• ConocoPhillips has received an average rating of "Moderate Buy" from 23 brokerages, with 6 holding and 17 recommending buy.
• Analysts have set an average 12-month price target of $115.00, with varying targets from Wells Fargo's $100.00 to Royal Bank of Canada's $118.00.
• The company reported $1.42 EPS for the last quarter, exceeding estimates, with revenue reaching $14.94 billion, a 4.3% increase year-over-year.

Shares of ConocoPhillips (NYSE:COP - Get Free Report) have received a consensus rating of "Moderate Buy" from the twenty-three brokerages that are covering the firm, Marketbeat reports. Six analysts have rated the stock with a hold recommendation and seventeen have issued a buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $115.00.

A number of equities analysts recently issued reports on the stock. Wells Fargo & Company assumed coverage on shares of ConocoPhillips in a research report on Friday. They set an "equal weight" rating and a $100.00 target price on the stock. Royal Bank Of Canada boosted their price target on shares of ConocoPhillips from $113.00 to $118.00 and gave the company an "outperform" rating in a report on Monday, October 13th. The Goldman Sachs Group lowered their price target on shares of ConocoPhillips from $111.00 to $108.00 and set a "buy" rating on the stock in a report on Friday. Wall Street Zen lowered shares of ConocoPhillips from a "hold" rating to a "sell" rating in a report on Saturday. Finally, UBS Group lowered their price target on shares of ConocoPhillips from $124.00 to $122.00 and set a "buy" rating on the stock in a report on Monday, October 13th.

Institutional Investors Weigh In On ConocoPhillips

Several institutional investors and hedge funds have recently bought and sold shares of COP. Charles Schwab Investment Management Inc. increased its holdings in ConocoPhillips by 379.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer's stock valued at $4,210,751,000 after buying an additional 31,736,423 shares during the period. Nuveen LLC bought a new stake in shares of ConocoPhillips in the 1st quarter worth about $658,981,000. Primecap Management Co. CA grew its holdings in shares of ConocoPhillips by 66.0% in the 2nd quarter. Primecap Management Co. CA now owns 7,883,455 shares of the energy producer's stock worth $707,461,000 after purchasing an additional 3,135,315 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of ConocoPhillips by 190.5% in the 1st quarter. AQR Capital Management LLC now owns 4,664,408 shares of the energy producer's stock worth $484,539,000 after purchasing an additional 3,058,505 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of ConocoPhillips by 31.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 10,778,664 shares of the energy producer's stock worth $966,267,000 after purchasing an additional 2,575,803 shares during the last quarter. Institutional investors own 82.36% of the company's stock.

ConocoPhillips Trading Down 0.4%

Shares of COP stock opened at $86.53 on Friday. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $115.38. The firm's fifty day simple moving average is $94.04 and its 200 day simple moving average is $92.03. The firm has a market capitalization of $108.07 billion, a P/E ratio of 11.61, a price-to-earnings-growth ratio of 2.33 and a beta of 0.62. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.36 by $0.06. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The business had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.39 billion. During the same quarter in the previous year, the firm posted $1.98 earnings per share. ConocoPhillips's revenue was up 4.3% compared to the same quarter last year. As a group, sell-side analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Monday, August 18th. ConocoPhillips's payout ratio is 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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