ConocoPhillips (NYSE:COP) Upgraded at StockNews.com

StockNews.com upgraded shares of ConocoPhillips (NYSE:COP) from a hold rating to a buy rating in a report published on Thursday morning.

COP has been the topic of a number of other reports. Argus upgraded shares of ConocoPhillips to a strong-buy rating in a report on Friday, June 7th. Royal Bank of Canada lifted their price target on ConocoPhillips from $135.00 to $140.00 and gave the company an outperform rating in a research note on Wednesday, May 15th. Raymond James reaffirmed a strong-buy rating and set a $159.00 price objective (up from $155.00) on shares of ConocoPhillips in a research report on Thursday, May 30th. Mizuho cut their target price on ConocoPhillips from $142.00 to $132.00 and set a neutral rating on the stock in a research note on Wednesday, June 5th. Finally, Bank of America reaffirmed a buy rating and set a $147.00 price target on shares of ConocoPhillips in a research note on Friday, June 14th. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $144.18.

ConocoPhillips Stock Performance

COP stock opened at $114.38 on Thursday. ConocoPhillips has a 1-year low of $99.35 and a 1-year high of $135.18. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.35. The firm has a market cap of $133.77 billion, a PE ratio of 12.95, a P/E/G ratio of 2.03 and a beta of 1.22. The business’s 50-day moving average price is $118.30 and its two-hundred day moving average price is $117.58.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, May 2nd. The energy producer reported $2.03 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.04. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. The business had revenue of $14.48 billion for the quarter, compared to analysts’ expectations of $14.72 billion. As a group, research analysts forecast that ConocoPhillips will post 8.89 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders 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 2.73%. ConocoPhillips’s payout ratio is 26.27%.

Hedge Funds Weigh In On ConocoPhillips

Several institutional investors and hedge funds have recently modified their holdings of the stock. Orion Capital Management LLC acquired a new position in shares of ConocoPhillips in the third quarter valued at approximately $27,000. West Branch Capital LLC boosted its position in shares of ConocoPhillips by 87.8% in the fourth quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock valued at $27,000 after acquiring an additional 108 shares during the period. Cooksen Wealth LLC bought a new position in ConocoPhillips during the fourth quarter worth about $27,000. Sachetta LLC acquired a new stake in ConocoPhillips in the 4th quarter worth about $27,000. Finally, Richardson Capital Management LLC bought a new stake in ConocoPhillips in the 1st quarter valued at about $31,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

About ConocoPhillips

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.