Several other brokerages also recently weighed in on COP. Piper Jaffray Companies restated a buy rating and set a $53.00 target price on shares of ConocoPhillips in a research note on Friday, November 3rd. Zacks Investment Research downgraded ConocoPhillips from a buy rating to a hold rating in a research note on Tuesday. Credit Suisse Group assumed coverage on ConocoPhillips in a research note on Monday, December 11th. They set a neutral rating and a $50.00 target price for the company. Goldman Sachs Group upgraded ConocoPhillips from a neutral rating to a buy rating and set a $60.00 target price for the company in a research note on Wednesday, December 13th. Finally, Barclays raised their target price on ConocoPhillips from $55.00 to $59.00 and gave the company an overweight rating in a research note on Friday, October 27th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have given a buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $55.25.
ConocoPhillips (NYSE:COP) traded up $1.57 during trading hours on Wednesday, reaching $54.25. The company’s stock had a trading volume of 8,064,500 shares, compared to its average volume of 7,086,240. The company has a quick ratio of 2.23, a current ratio of 2.38 and a debt-to-equity ratio of 0.64. ConocoPhillips has a one year low of $42.26 and a one year high of $54.51. The stock has a market capitalization of $62,979.78, a price-to-earnings ratio of 2,634.00, a PEG ratio of 12.70 and a beta of 1.26.
The business also recently announced a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Monday, October 16th were paid a $0.265 dividend. The ex-dividend date was Friday, October 13th. This represents a $1.06 dividend on an annualized basis and a yield of 1.95%. ConocoPhillips’s payout ratio is currently -57.30%.
In related news, Director Charles E. Bunch bought 2,000 shares of the firm’s stock in a transaction on Monday, December 11th. The stock was bought at an average cost of $52.06 per share, for a total transaction of $104,120.00. Following the completion of the purchase, the director now directly owns 3,429 shares in the company, valued at approximately $178,513.74. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.82% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Freestone Capital Holdings LLC raised its holdings in shares of ConocoPhillips by 78.7% during the second quarter. Freestone Capital Holdings LLC now owns 8,047 shares of the energy producer’s stock valued at $354,000 after buying an additional 3,543 shares during the last quarter. Point View Wealth Management Inc. raised its holdings in shares of ConocoPhillips by 19.8% during the second quarter. Point View Wealth Management Inc. now owns 32,939 shares of the energy producer’s stock valued at $1,448,000 after buying an additional 5,452 shares during the last quarter. Shell Asset Management Co. raised its holdings in shares of ConocoPhillips by 2.4% during the second quarter. Shell Asset Management Co. now owns 202,066 shares of the energy producer’s stock valued at $8,883,000 after buying an additional 4,647 shares during the last quarter. Toronto Dominion Bank raised its holdings in shares of ConocoPhillips by 16.1% during the second quarter. Toronto Dominion Bank now owns 616,392 shares of the energy producer’s stock valued at $27,092,000 after buying an additional 85,538 shares during the last quarter. Finally, FMR LLC raised its holdings in shares of ConocoPhillips by 6.9% during the first quarter. FMR LLC now owns 61,497,903 shares of the energy producer’s stock valued at $3,066,900,000 after buying an additional 3,982,002 shares during the last quarter. Institutional investors own 69.62% of the company’s stock.
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ConocoPhillips is an independent exploration and production company. The Company explores for, produces, transports and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG) and natural gas liquids. The Company operates through five segments: Alaska, Lower 48, Canada, Europe and North Africa, Asia Pacific and Middle East, and Other International.
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