ConocoPhillips (NYSE:COP - Free Report) had its price target reduced by Susquehanna from $120.00 to $114.00 in a report released on Monday,Benzinga reports. They currently have a positive rating on the energy producer's stock.
Other research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. lowered their price target on shares of ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Bank of America lowered shares of ConocoPhillips from a "buy" rating to a "neutral" rating and lowered their target price for the company from $138.00 to $107.00 in a research note on Tuesday, April 29th. The Goldman Sachs Group set a $132.00 target price on ConocoPhillips in a report on Thursday, January 30th. Royal Bank of Canada lowered their price objective on shares of ConocoPhillips from $133.00 to $120.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. Finally, Raymond James downgraded shares of ConocoPhillips from a "strong-buy" rating to an "outperform" rating and dropped their price objective for the company from $157.00 to $124.00 in a research note on Monday, February 10th. Three analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, ConocoPhillips currently has an average rating of "Moderate Buy" and a consensus target price of $122.74.
Read Our Latest Stock Report on ConocoPhillips
ConocoPhillips Stock Performance
NYSE:COP traded down $0.77 on Monday, hitting $91.81. The stock had a trading volume of 1,776,692 shares, compared to its average volume of 7,284,098. The business's 50-day simple moving average is $93.29 and its two-hundred day simple moving average is $99.20. The stock has a market cap of $116.06 billion, a price-to-earnings ratio of 11.78, a price-to-earnings-growth ratio of 0.79 and a beta of 0.64. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $122.11. 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 (NYSE:COP - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 earnings per share 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 firm had revenue of $16.18 billion for the quarter, compared to analysts' expectations of $15.74 billion. During the same period in the previous year, the firm earned $2.05 EPS. As a group, research analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.
ConocoPhillips Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.40%. The ex-dividend date of this dividend is Monday, May 19th. ConocoPhillips's payout ratio is presently 39.64%.
Institutional Investors Weigh In On ConocoPhillips
A number of large investors have recently modified their holdings of COP. Orrstown Financial Services Inc. lifted its holdings in ConocoPhillips by 3.0% in the fourth quarter. Orrstown Financial Services Inc. now owns 3,342 shares of the energy producer's stock valued at $331,000 after acquiring an additional 96 shares during the last quarter. Principle Wealth Partners LLC boosted its stake in shares of ConocoPhillips by 0.3% during the fourth quarter. Principle Wealth Partners LLC now owns 37,255 shares of the energy producer's stock worth $3,695,000 after buying an additional 100 shares during the period. Arlington Trust Co LLC lifted its stake in shares of ConocoPhillips by 1.2% in the 4th quarter. Arlington Trust Co LLC now owns 8,640 shares of the energy producer's stock worth $857,000 after acquiring an additional 102 shares during the period. Courier Capital LLC raised its position in ConocoPhillips by 0.5% in the fourth quarter. Courier Capital LLC now owns 20,481 shares of the energy producer's stock worth $2,031,000 after acquiring an additional 103 shares in the last quarter. Finally, Gray Wealth Management Inc. boosted its stake in shares of ConocoPhillips by 5.0% during the 4th quarter. Gray Wealth Management Inc. now owns 2,171 shares of the energy producer's stock worth $215,000 after acquiring an additional 104 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company's stock.
About ConocoPhillips
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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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