ConocoPhillips (NYSE:COP) Coverage Initiated by Analysts at Wolfe Research

Wolfe Research started coverage on shares of ConocoPhillips (NYSE:COP) in a research note published on Thursday, Marketbeat.com reports. The firm issued an outperform rating and a $145.00 target price on the energy producer’s stock.

Several other analysts also recently weighed in on the company. StockNews.com downgraded ConocoPhillips from a buy rating to a hold rating in a research note on Wednesday. Morgan Stanley upped their target price on ConocoPhillips from $123.00 to $129.00 and gave the company an overweight rating in a research report on Thursday, March 28th. Scotiabank reduced their price target on shares of ConocoPhillips from $135.00 to $120.00 and set a sector perform rating for the company in a research report on Friday, July 12th. Raymond James reaffirmed a strong-buy rating and issued a $159.00 price objective (up from $155.00) on shares of ConocoPhillips in a report on Thursday, May 30th. Finally, Wells Fargo & Company raised their target price on shares of ConocoPhillips from $149.00 to $151.00 and gave the stock an overweight rating in a report on Friday, May 3rd. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $144.29.

ConocoPhillips Trading Up 0.5 %

Shares of NYSE:COP opened at $116.61 on Thursday. The business’s 50-day moving average is $114.88 and its 200 day moving average is $117.35. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.35 and a quick ratio of 1.21. ConocoPhillips has a 1 year low of $105.77 and a 1 year high of $135.18. The firm has a market capitalization of $136.38 billion, a P/E ratio of 13.21, a P/E/G ratio of 2.08 and a beta of 1.23.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, May 2nd. The energy producer reported $2.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.99 by $0.04. The business had revenue of $14.48 billion during the quarter, compared to analysts’ expectations of $14.72 billion. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. On average, research analysts predict that ConocoPhillips will post 8.84 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 13th were given 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 dividend yield of 2.68%. ConocoPhillips’s dividend payout ratio (DPR) is 26.27%.

Institutional Investors Weigh In On ConocoPhillips

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. West Branch Capital LLC increased its stake in ConocoPhillips by 87.8% during the 4th quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock worth $27,000 after buying an additional 108 shares in the last quarter. Sachetta LLC purchased a new stake in shares of ConocoPhillips during the fourth quarter worth approximately $27,000. Cooksen Wealth LLC acquired a new position in ConocoPhillips in the 4th quarter valued at $27,000. Cape Investment Advisory Inc. lifted its holdings in ConocoPhillips by 96.0% in the 4th 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 in the last quarter. Finally, Richardson Capital Management LLC purchased a new position in ConocoPhillips in the 1st quarter valued at $31,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Company Profile

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.