ConocoPhillips (NYSE:COP) Research Coverage Started at Morgan Stanley

Morgan Stanley assumed coverage on shares of ConocoPhillips (NYSE:COP) in a report published on Monday morning, Marketbeat Ratings reports. The brokerage issued an overweight rating and a $128.00 target price on the energy producer’s stock.

A number of other brokerages have also weighed in on COP. Evercore ISI reaffirmed an “outperform” rating and set a $165.00 price objective on shares of ConocoPhillips in a report on Friday, December 6th. Susquehanna upped their price target on shares of ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research note on Friday, November 1st. BMO Capital Markets boosted their price target on ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Wells Fargo & Company raised their target price on shares of ConocoPhillips from $131.00 to $134.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $140.00 price target on shares of ConocoPhillips in a research report on Friday, September 13th. Two research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, ConocoPhillips presently has a consensus rating of “Buy” and an average target price of $139.24.

ConocoPhillips Stock Down 2.5 %

Shares of ConocoPhillips stock opened at $95.85 on Monday. The company has a market cap of $110.31 billion, a P/E ratio of 11.40, a PEG ratio of 0.83 and a beta of 1.18. The firm has a fifty day moving average of $106.91 and a two-hundred day moving average of $109.31. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. ConocoPhillips has a one year low of $95.75 and a one year high of $135.18.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The firm had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. During the same quarter last year, the firm earned $2.16 earnings per share. The firm’s revenue was down 8.5% compared to the same quarter last year. On average, analysts forecast that ConocoPhillips will post 7.77 earnings per share for the current year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 11th were issued a dividend of $0.78 per share. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a yield of 3.26%. The ex-dividend date of this dividend was Friday, November 8th. ConocoPhillips’s dividend payout ratio (DPR) is currently 37.10%.

Insider Activity

In other ConocoPhillips news, Director R A. Walker acquired 10,400 shares of the firm’s stock in a transaction on Tuesday, December 17th. The stock was purchased at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the acquisition, the director now directly owns 38,000 shares in the company, valued at $3,716,400. This trade represents a 37.68 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On ConocoPhillips

A number of institutional investors have recently modified their holdings of the business. Raymond James Financial Services Advisors Inc. raised its stake in ConocoPhillips by 12.9% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 408,910 shares of the energy producer’s stock valued at $46,771,000 after acquiring an additional 46,790 shares in the last quarter. Pallas Capital Advisors LLC increased its stake in shares of ConocoPhillips by 50.8% during the second quarter. Pallas Capital Advisors LLC now owns 5,731 shares of the energy producer’s stock valued at $668,000 after acquiring an additional 1,930 shares during the period. Hobbs Group Advisors LLC bought a new stake in ConocoPhillips during the second quarter worth approximately $46,000. Focus Financial Network Inc. lifted its position in ConocoPhillips by 8.3% in the second quarter. Focus Financial Network Inc. now owns 8,455 shares of the energy producer’s stock worth $981,000 after purchasing an additional 645 shares during the period. Finally, Summit Global Investments lifted its position in ConocoPhillips by 42.6% in the second quarter. Summit Global Investments now owns 4,183 shares of the energy producer’s stock worth $478,000 after purchasing an additional 1,249 shares during the period. 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.