ConocoPhillips (NYSE:COP) Upgraded at Argus

Argus upgraded shares of ConocoPhillips (NYSE:COPFree Report) to a strong-buy rating in a report published on Friday, Zacks.com reports.

A number of other brokerages have also recently issued reports on COP. Royal Bank of Canada boosted their target price on shares of ConocoPhillips from $135.00 to $140.00 and gave the company an outperform rating in a report on Wednesday, May 15th. Susquehanna increased their price objective on ConocoPhillips from $133.00 to $154.00 and gave the stock a positive rating in a report on Monday, April 22nd. Raymond James reissued a strong-buy rating and issued a $159.00 price target (up from $155.00) on shares of ConocoPhillips in a report on Thursday, May 30th. Wells Fargo & Company boosted their price objective on shares of ConocoPhillips from $149.00 to $151.00 and gave the company an overweight rating in a research note on Friday, May 3rd. Finally, Mizuho lowered their target price on shares of ConocoPhillips from $142.00 to $132.00 and set a neutral rating on the stock in a research note on Wednesday, June 5th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $144.35.

Read Our Latest Analysis on COP

ConocoPhillips Stock Performance

NYSE:COP opened at $113.32 on Friday. The company has a market capitalization of $132.53 billion, a P/E ratio of 12.83, a P/E/G ratio of 2.51 and a beta of 1.23. The business has a fifty day simple moving average of $123.60 and a two-hundred day simple moving average of $117.74. 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 $99.35 and a 1 year high of $135.18.

ConocoPhillips (NYSE:COPGet Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The energy producer reported $2.03 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.04. The company 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%. On average, analysts expect that ConocoPhillips will post 8.93 earnings per share for the current year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 13th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 2.75%. The ex-dividend date of this dividend was Friday, May 10th. ConocoPhillips’s dividend payout ratio (DPR) is currently 26.27%.

Insiders Place Their Bets

In related news, CEO Ryan Michael Lance sold 607,000 shares of ConocoPhillips stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $125.91, for a total transaction of $76,427,370.00. Following the sale, the chief executive officer now directly owns 6,780 shares in the company, valued at $853,669.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO William L. Jr. Bullock sold 45,200 shares of the stock in a transaction that occurred on 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 sale, the chief financial officer now owns 44,153 shares in the company, valued at $5,444,947.96. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Ryan Michael Lance sold 607,000 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $125.91, for a total value of $76,427,370.00. Following the completion of the transaction, the chief executive officer now directly owns 6,780 shares in the company, valued at $853,669.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 664,350 shares of company stock worth $83,537,680. 0.34% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ConocoPhillips

Several hedge funds and other institutional investors have recently bought and sold shares of COP. Columbia Trust Co 01012016 increased its position in shares of ConocoPhillips by 1.2% during the 4th quarter. Columbia Trust Co 01012016 now owns 9,463 shares of the energy producer’s stock valued at $1,098,000 after purchasing an additional 112 shares during the last quarter. Raymond James & Associates grew its stake in shares of ConocoPhillips by 1.5% during the 4th quarter. Raymond James & Associates now owns 1,563,044 shares of the energy producer’s stock valued at $181,422,000 after acquiring an additional 23,572 shares during the period. Quotient Wealth Partners LLC purchased a new stake in ConocoPhillips in the 4th quarter worth approximately $5,594,000. Townsquare Capital LLC lifted its holdings in ConocoPhillips by 4.3% during the third quarter. Townsquare Capital LLC now owns 56,739 shares of the energy producer’s stock valued at $6,797,000 after purchasing an additional 2,348 shares in the last quarter. Finally, HITE Hedge Asset Management LLC boosted its position in shares of ConocoPhillips by 51.2% in the fourth quarter. HITE Hedge Asset Management LLC now owns 116,711 shares of the energy producer’s stock worth $13,547,000 after purchasing an additional 39,498 shares during the period. Institutional investors own 82.36% of the company’s stock.

About ConocoPhillips

(Get Free Report)

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.

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Analyst Recommendations for ConocoPhillips (NYSE:COP)

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