ConocoPhillips (NYSE:COP) Research Coverage Started at Wolfe Research

Wolfe Research started coverage on shares of ConocoPhillips (NYSE:COP) in a research note issued to investors on Thursday, Marketbeat reports. The firm issued an outperform rating and a $145.00 price target on the energy producer’s stock.

A number of other research analysts have also weighed in on the stock. Bank of America reissued a buy rating and set a $147.00 price target on shares of ConocoPhillips in a research report on Friday, June 14th. Wells Fargo & Company boosted their target price on ConocoPhillips from $149.00 to $151.00 and gave the stock an overweight rating in a research note on Friday, May 3rd. Mizuho decreased their price target on ConocoPhillips from $142.00 to $132.00 and set a neutral rating for the company in a research report on Wednesday, June 5th. Raymond James reissued a strong-buy rating and issued a $159.00 price objective (up previously from $155.00) on shares of ConocoPhillips in a research report on Thursday, May 30th. Finally, Barclays upped their price objective on ConocoPhillips from $158.00 to $160.00 and gave the company an overweight rating in a research note on Thursday, May 30th. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, ConocoPhillips currently has a consensus rating of Moderate Buy and an average price target of $144.29.

ConocoPhillips Stock Performance

Shares of COP opened at $114.35 on Thursday. The firm has a market capitalization of $133.74 billion, a P/E ratio of 12.95, a P/E/G ratio of 2.06 and a beta of 1.23. ConocoPhillips has a 52 week low of $105.77 and a 52 week high of $135.18. The stock has a 50 day moving average price of $114.73 and a two-hundred day moving average price of $117.31. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.21 and a current ratio of 1.35.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, May 2nd. The energy producer reported $2.03 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $14.72 billion. Equities analysts forecast that ConocoPhillips will post 8.81 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 13th were given a dividend of $0.78 per share. The ex-dividend date was Friday, May 10th. This represents a $3.12 annualized dividend and a dividend yield of 2.73%. ConocoPhillips’s dividend payout ratio is currently 26.27%.

Institutional Trading of ConocoPhillips

A number of hedge funds and other institutional investors have recently made changes to their positions in COP. West Branch Capital LLC grew its holdings in ConocoPhillips by 87.8% during the 4th quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock valued at $27,000 after buying an additional 108 shares in the last quarter. Sachetta LLC purchased a new position in ConocoPhillips during the fourth quarter valued at approximately $27,000. Cooksen Wealth LLC bought a new stake in ConocoPhillips during the 4th quarter worth approximately $27,000. Cape Investment Advisory Inc. lifted its stake in ConocoPhillips by 96.0% in the 4th quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock worth $29,000 after purchasing an additional 121 shares in the last quarter. Finally, Richardson Capital Management LLC bought a new position in ConocoPhillips in the 1st quarter valued at $31,000. 82.36% of the stock is currently 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.