ConocoPhillips (NYSE:COP) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of ConocoPhillips (NYSE:COP) from a hold rating to a buy rating in a research note issued to investors on Wednesday.

Other equities research analysts also recently issued reports about the stock. 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. Mizuho reduced their target price on shares of ConocoPhillips from $142.00 to $132.00 and set a neutral rating for the company in a report on Wednesday, June 5th. Argus raised ConocoPhillips to a strong-buy rating in a report on Friday, June 7th. Truist Financial raised their price objective on ConocoPhillips from $160.00 to $165.00 and gave the stock a buy rating in a research note on Monday, June 3rd. Finally, Morgan Stanley lifted their target price on ConocoPhillips from $123.00 to $129.00 and gave the stock an overweight rating in a report on Thursday, March 28th. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, ConocoPhillips presently has a consensus rating of Moderate Buy and an average target price of $144.18.

ConocoPhillips Trading Down 1.4 %

ConocoPhillips stock opened at $109.39 on Wednesday. ConocoPhillips has a 12-month low of $99.35 and a 12-month high of $135.18. The stock has a market capitalization of $127.93 billion, a PE ratio of 12.39, a price-to-earnings-growth ratio of 2.48 and a beta of 1.22. The firm has a 50 day simple moving average of $121.97 and a 200-day simple moving average of $117.62. 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 (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, beating analysts’ consensus estimates of $1.99 by $0.04. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. The firm had revenue of $14.48 billion during the quarter, compared to analyst estimates of $14.72 billion. As a group, equities research analysts expect that ConocoPhillips will post 8.93 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 13th were given a $0.78 dividend. The ex-dividend date was Friday, May 10th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.85%. ConocoPhillips’s dividend payout ratio is currently 26.27%.

Insider Activity

In related news, CEO Ryan Michael Lance sold 607,000 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $125.91, for a total value of $76,427,370.00. Following the completion of the sale, the chief executive officer now directly owns 6,780 shares in the company, valued at approximately $853,669.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Ryan Michael Lance sold 607,000 shares of ConocoPhillips stock in a transaction 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 transaction, the chief executive officer now owns 6,780 shares in the company, valued at approximately $853,669.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Nicholas G. Olds sold 12,150 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $126.44, for a total transaction of $1,536,246.00. Following the sale, the executive vice president now owns 14,522 shares of the company’s stock, valued at $1,836,161.68. The disclosure for this sale can be found here. In the last quarter, insiders have sold 664,350 shares of company stock valued at $83,537,680. Insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On ConocoPhillips

Hedge funds have recently modified their holdings of the business. Columbia Trust Co 01012016 boosted its holdings in ConocoPhillips by 1.2% in 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 period. Raymond James & Associates raised its position in shares of ConocoPhillips by 1.5% during the fourth quarter. Raymond James & Associates now owns 1,563,044 shares of the energy producer’s stock valued at $181,422,000 after buying an additional 23,572 shares during the last quarter. Quotient Wealth Partners LLC acquired a new position in shares of ConocoPhillips during the fourth quarter valued at about $5,594,000. Townsquare Capital LLC lifted its stake in shares of ConocoPhillips by 4.3% in the third quarter. Townsquare Capital LLC now owns 56,739 shares of the energy producer’s stock valued at $6,797,000 after buying an additional 2,348 shares during the period. Finally, HITE Hedge Asset Management LLC grew its position in ConocoPhillips by 51.2% during the fourth quarter. HITE Hedge Asset Management LLC now owns 116,711 shares of the energy producer’s stock worth $13,547,000 after buying an additional 39,498 shares in the last quarter. 82.36% of the stock is owned by institutional investors.

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.