ConocoPhillips (NYSE:COP) Cut to “Sell” at Wall Street Zen

Wall Street Zen cut shares of ConocoPhillips (NYSE:COP) from a hold rating to a sell rating in a report released on Saturday.

Several other research firms have also recently commented on COP. JPMorgan Chase & Co. boosted their price target on ConocoPhillips from $114.00 to $115.00 and gave the stock an “overweight” rating in a research note on Thursday, October 9th. UBS Group cut their price target on ConocoPhillips from $124.00 to $122.00 and set a “buy” rating on the stock in a research note on Monday, October 13th. Raymond James Financial cut their price target on ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating on the stock in a research note on Monday, September 8th. Weiss Ratings reiterated a “hold (c-)” rating on shares of ConocoPhillips in a research note on Wednesday, October 8th. Finally, Capital One Financial boosted their price target on ConocoPhillips from $111.00 to $112.00 in a research note on Friday, October 3rd. Eighteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus price target of $115.63.

ConocoPhillips Trading Up 0.6%

Shares of COP opened at $87.01 on Friday. The stock’s 50-day moving average is $93.91 and its two-hundred day moving average is $91.92. The stock has a market cap of $108.67 billion, a PE ratio of 11.68, a P/E/G ratio of 2.29 and a beta of 0.62. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $115.38. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.06. The company had revenue of $14.94 billion for the quarter, compared to analysts’ expectations of $14.39 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The firm’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.98 earnings per share. Equities analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were paid a dividend of $0.78 per share. The ex-dividend date was Monday, August 18th. This represents a $3.12 annualized dividend and a yield of 3.6%. ConocoPhillips’s dividend payout ratio is presently 41.88%.

Institutional Trading of ConocoPhillips

Institutional investors and hedge funds have recently bought and sold shares of the company. Howard Hughes Medical Institute acquired a new stake in ConocoPhillips during the second quarter valued at approximately $25,000. Financial Network Wealth Advisors LLC grew its holdings in shares of ConocoPhillips by 341.5% during the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock valued at $30,000 after purchasing an additional 222 shares during the last quarter. Stone House Investment Management LLC bought a new position in shares of ConocoPhillips during the first quarter valued at approximately $31,000. Bogart Wealth LLC grew its holdings in shares of ConocoPhillips by 136.8% during the second quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock valued at $28,000 after purchasing an additional 182 shares during the last quarter. Finally, Activest Wealth Management grew its holdings in shares of ConocoPhillips by 249.5% during the second quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock valued at $29,000 after purchasing an additional 232 shares during the last quarter. Institutional investors and hedge funds 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.