ConocoPhillips (NYSE:COP) Stock Now Rated "Moderate Buy" by Sell-Side Brokerages

Key Points

• Analysts rate ConocoPhillips a “Moderate Buy.” Eighteen analysts recommend buying the stock, while the average 12-month price target is $141.24 versus a recent price of $126.78.
• ConocoPhillips exceeded quarterly expectations, reporting $3.24 in EPS and $19.52 billion in revenue, with revenue up 32.4% year over year. The company also pays a quarterly dividend of $0.84, equivalent to a 2.7% annualized yield.
• The company is expanding its LNG exposure through a 20-year Venture Global supply agreement and reviewing potential offers for its Norway and U.K. assets, which could raise cash and streamline its portfolio, though neither move has an immediate earnings impact.

Shares of ConocoPhillips (NYSE:COP - Get Free Report) have received a consensus rating of "Moderate Buy" from the twenty-eight analysts that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation, eighteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $141.24.

A number of research analysts have recently commented on the company. Freedom Capital raised ConocoPhillips from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 10th. Wells Fargo & Company increased their target price on ConocoPhillips from $183.00 to $189.00 and gave the stock an "overweight" rating in a research note on Friday, August 7th. Argus boosted their target price on shares of ConocoPhillips from $136.00 to $153.00 and gave the company a "buy" rating in a research note on Wednesday, August 19th. Stifel Nicolaus assumed coverage on shares of ConocoPhillips in a report on Thursday, September 10th. They issued a "hold" rating and a $148.00 price target on the stock. Finally, Roth Capital raised shares of ConocoPhillips from a "neutral" rating to a "buy" rating and raised their price target for the stock from $124.00 to $130.00 in a research note on Monday, June 22nd.

ConocoPhillips Price Performance

COP stock opened at $126.78 on Friday. ConocoPhillips has a 12 month low of $85.57 and a 12 month high of $141.62. The company has a current ratio of 1.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.35. The company has a 50-day moving average price of $128.29 and a 200 day moving average price of $121.80. The stock has a market cap of $152.31 billion, a PE ratio of 16.77, a P/E/G ratio of 1.34 and a beta of 0.24.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The energy producer reported $3.24 EPS for the quarter, beating the consensus estimate of $2.90 by $0.34. The company had revenue of $19.52 billion for the quarter, compared to the consensus estimate of $18.79 billion. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The firm's revenue was up 32.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.42 EPS. Equities research analysts anticipate that ConocoPhillips will post 10.54 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th were paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Monday, August 17th. ConocoPhillips's dividend payout ratio is currently 44.44%.

More ConocoPhillips News

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: ConocoPhillips agreed to purchase 1 million tonnes per annum of LNG from Venture Global for 20 years beginning in 2030. The deal secures long-term supply and expands COP’s LNG exposure, although the financial impact is several years away. ConocoPhillips signs 20-year LNG deal with Venture Global
• Positive Sentiment: ConocoPhillips is reviewing an unsolicited offer for its Norway business and U.K. Teesside asset. A potential sale could generate cash, simplify the portfolio and allow the company to focus on higher-return assets, though no transaction has been announced. ConocoPhillips explores sale of Norway business and UK Teesside asset
• Neutral Sentiment: Reports identify potential contenders for ConocoPhillips’ Norway assets, suggesting that the review may attract buyer interest. However, the value, timing and use of proceeds remain uncertain. Who are the contenders for ConocoPhillips’ Norway assets?
• Neutral Sentiment: Potential U.S. energy investment tied to an Alaska natural-gas pipeline and nuclear projects could create future opportunities for ConocoPhillips, but the projects are prospective and provide no immediate earnings benefit. South Korea set to invest $200 billion in the U.S.
• Negative Sentiment: Energy stocks came under broader market pressure, which likely weighed on COP independently of its company-specific announcements. Sector Update: Energy Stocks Fall Premarket Thursday

Insider Activity at ConocoPhillips

In other news, SVP Andrew Lundquist sold 9,487 shares of ConocoPhillips stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $135.15, for a total transaction of $1,282,168.05. Following the completion of the sale, the senior vice president owned 9,593 shares of the company's stock, valued at approximately $1,296,493.95. The trade was a 49.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.09% of the company's stock.

Institutional Investors Weigh In On ConocoPhillips

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in shares of ConocoPhillips in the fourth quarter valued at about $25,000. Frazier Financial Advisors LLC raised its holdings in shares of ConocoPhillips by 151.0% in the 1st quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer's stock valued at $32,000 after purchasing an additional 145 shares in the last quarter. Allied Private Wealth LLC purchased a new stake in shares of ConocoPhillips in the 2nd quarter worth approximately $32,000. Evergreen Advisors LLC bought a new position in shares of ConocoPhillips during the first quarter valued at approximately $36,000. Finally, Ballast Advisors LLC purchased a new position in ConocoPhillips during the first quarter valued at approximately $36,000. 82.36% of the stock is owned by institutional investors.

About ConocoPhillips

ConocoPhillips NYSE: COP is an independent exploration and production company engaged in finding, developing and producing crude oil, natural gas, natural gas liquids and liquefied natural gas. Unlike integrated energy companies, ConocoPhillips focuses primarily on upstream activities rather than refining and retail fuel operations.

The company has a diversified portfolio of assets in major producing regions, including the United States, Canada, Australia, Norway and Qatar. Its U.S. operations include oil and gas developments in Alaska and the Lower 48 states, while its international portfolio includes conventional and offshore projects.

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