ConocoPhillips (NYSE:COP) had its price objective cut by JPMorgan Chase & Co. from $83.00 to $80.00 in a research note published on Tuesday morning, BenzingaRatingsTable reports. They currently have an overweight rating on the energy producer’s stock.
A number of other equities analysts have also weighed in on the stock. Piper Jaffray Companies set a $30.00 price objective on shares of KLX Energy Services and gave the company a buy rating in a research report on Thursday, March 21st. Morgan Stanley set a $100.00 target price on shares of Cimarex Energy and gave the company a buy rating in a report on Thursday, May 16th. Mizuho assumed coverage on shares of Avrobio in a report on Wednesday, June 26th. They issued a buy rating and a $28.00 target price for the company. Zacks Investment Research upgraded shares of Key Energy Services from a hold rating to a buy rating and set a $4.50 target price for the company in a report on Wednesday, March 13th. Finally, ValuEngine upgraded shares of Zogenix from a buy rating to a strong-buy rating in a report on Thursday, June 27th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. ConocoPhillips has an average rating of Buy and a consensus price target of $77.07.
NYSE:COP opened at $61.76 on Tuesday. The firm has a 50 day moving average price of $59.91. The company has a current ratio of 1.86, a quick ratio of 1.72 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $69.46 billion, a price-to-earnings ratio of 13.63, a PEG ratio of 1.62 and a beta of 1.00. ConocoPhillips has a 1-year low of $56.75 and a 1-year high of $80.24.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Monday, July 22nd will be paid a dividend of $0.305 per share. The ex-dividend date of this dividend is Friday, July 19th. This represents a $1.22 annualized dividend and a yield of 1.98%. ConocoPhillips’s dividend payout ratio is currently 26.93%.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in COP. Lenox Wealth Advisors LLC purchased a new stake in ConocoPhillips during the first quarter worth approximately $27,000. Clarfeld Financial Advisors LLC acquired a new position in shares of ConocoPhillips during the fourth quarter worth $32,000. Destination Wealth Management lifted its position in shares of ConocoPhillips by 592.6% during the first quarter. Destination Wealth Management now owns 561 shares of the energy producer’s stock worth $37,000 after purchasing an additional 480 shares in the last quarter. Truvestments Capital LLC acquired a new position in shares of ConocoPhillips during the first quarter worth $42,000. Finally, Glassman Wealth Services lifted its position in shares of ConocoPhillips by 779.2% during the first quarter. Glassman Wealth Services now owns 633 shares of the energy producer’s stock worth $42,000 after purchasing an additional 561 shares in the last quarter. Institutional investors own 72.09% of the company’s stock.
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the tight oil reservoirs, LNG, oil sands, and other production operations. Its portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.
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