ConocoPhillips (NYSE:COP) Earns Buy Rating from Bank of America

Bank of America reiterated their buy rating on shares of ConocoPhillips (NYSE:COP) in a research report report published on Friday morning, Marketbeat Ratings reports. Bank of America currently has a $147.00 price target on the energy producer’s stock.

COP has been the topic of a number of other reports. StockNews.com raised ConocoPhillips from a hold rating to a buy rating in a report on Wednesday, June 12th. Argus raised ConocoPhillips to a strong-buy rating in a research note on Friday, June 7th. Barclays increased their price objective on ConocoPhillips from $158.00 to $160.00 and gave the stock an overweight rating in a research note on Thursday, May 30th. Raymond James restated a strong-buy rating and issued a $159.00 target price (up previously from $155.00) on shares of ConocoPhillips in a research note on Thursday, May 30th. Finally, Mizuho dropped their target price on shares of ConocoPhillips from $142.00 to $132.00 and set a neutral rating for the company in a research report on Wednesday, June 5th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $144.18.

ConocoPhillips Stock Down 1.4 %

Shares of COP stock opened at $109.39 on Friday. ConocoPhillips has a 12 month low of $99.35 and a 12 month high of $135.18. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.35. The firm has a market cap of $127.93 billion, a PE ratio of 12.39, a price-to-earnings-growth ratio of 2.45 and a beta of 1.22. The stock has a 50 day moving average of $121.97 and a 200-day moving average of $117.65.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, May 2nd. The energy producer reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.04. The firm had revenue of $14.48 billion for the quarter, compared to analyst estimates of $14.72 billion. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. On average, equities analysts predict that ConocoPhillips will post 8.93 EPS for the current year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 13th were paid a dividend of $0.78 per share. The ex-dividend date was Friday, May 10th. This represents a $3.12 dividend on an annualized basis and a yield of 2.85%. ConocoPhillips’s dividend payout ratio (DPR) is currently 26.27%.

Insider Transactions at ConocoPhillips

In related news, EVP Nicholas G. Olds sold 12,150 shares of ConocoPhillips stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $126.44, for a total transaction of $1,536,246.00. Following the transaction, the executive vice president now owns 14,522 shares of the company’s stock, valued at $1,836,161.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other ConocoPhillips news, EVP Nicholas G. Olds sold 12,150 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $126.44, for a total value of $1,536,246.00. Following the completion of the sale, the executive vice president now directly owns 14,522 shares of the company’s stock, valued at approximately $1,836,161.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO William L. Jr. Bullock sold 45,200 shares of the stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $123.32, for a total transaction of $5,574,064.00. Following the completion of the sale, the chief financial officer now owns 44,153 shares of the company’s stock, valued at approximately $5,444,947.96. The disclosure for this sale can be found here. Insiders sold a total of 664,350 shares of company stock valued at $83,537,680 over the last ninety days. 0.34% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Orion Capital Management LLC bought a new position in ConocoPhillips during the third quarter valued at about $27,000. West Branch Capital LLC grew its position in shares of ConocoPhillips by 87.8% during the 4th quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock valued at $27,000 after acquiring an additional 108 shares during the period. Sachetta LLC purchased a new stake in shares of ConocoPhillips during the 4th quarter worth approximately $27,000. Cooksen Wealth LLC bought a new stake in shares of ConocoPhillips in the 4th quarter worth approximately $27,000. Finally, Cape Investment Advisory Inc. lifted its stake in ConocoPhillips by 96.0% in the fourth quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock valued at $29,000 after purchasing an additional 121 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

About ConocoPhillips

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.