ConocoPhillips (NYSE:COP) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of ConocoPhillips (NYSE:COP) have received an average rating of “Moderate Buy” from the eighteen analysts that are covering the stock, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation, twelve have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $144.18.

A number of research analysts have recently issued reports on COP shares. Scotiabank lifted their price target on ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a report on Thursday, April 11th. Truist Financial lifted their price target on ConocoPhillips from $160.00 to $165.00 and gave the company a “buy” rating in a report on Monday, June 3rd. Morgan Stanley lifted their price target on ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Susquehanna lifted their price target on ConocoPhillips from $133.00 to $154.00 and gave the company a “positive” rating in a report on Monday, April 22nd. Finally, Wells Fargo & Company lifted their price target on ConocoPhillips from $149.00 to $151.00 and gave the company an “overweight” rating in a report on Friday, May 3rd.

Hedge Funds Weigh In On ConocoPhillips

A number of large investors have recently bought and sold shares of COP. Orion Capital Management LLC acquired a new position in ConocoPhillips in the 3rd quarter worth about $27,000. 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 ConocoPhillips during the 4th quarter worth approximately $27,000. Cooksen Wealth LLC purchased a new stake in ConocoPhillips during the 4th quarter worth approximately $27,000. Finally, Cape Investment Advisory Inc. increased its stake in ConocoPhillips by 96.0% during the 4th quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock worth $29,000 after buying an additional 121 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Price Performance

Shares of COP stock opened at $114.77 on Friday. ConocoPhillips has a 52-week low of $99.35 and a 52-week high of $135.18. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.21 and a current ratio of 1.35. The firm has a market capitalization of $134.23 billion, a P/E ratio of 13.00, a P/E/G ratio of 2.03 and a beta of 1.23. The stock has a 50 day moving average price of $117.39 and a 200 day moving average price of $117.59.

ConocoPhillips (NYSE:COP) last issued 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 firm had revenue of $14.48 billion during the quarter, compared to analyst estimates of $14.72 billion. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. As a group, sell-side analysts predict that ConocoPhillips will post 8.89 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 13th were issued a $0.78 dividend. The ex-dividend date of this dividend was Friday, May 10th. This represents a $3.12 annualized dividend and a dividend yield of 2.72%. ConocoPhillips’s dividend payout ratio (DPR) is presently 26.27%.

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.