ConocoPhillips (NYSE:COP) Research Coverage Started at MKM Partners

MKM Partners assumed coverage on shares of ConocoPhillips (NYSE:COP) in a research report sent to investors on Thursday morning, BenzingaRatingsTable reports. The firm issued a buy rating and a $72.00 target price on the energy producer’s stock.

Several other research firms have also recently commented on COP. ValuEngine upgraded ConocoPhillips from a sell rating to a hold rating in a research note on Wednesday, October 2nd. Barclays started coverage on shares of ConocoPhillips in a research note on Monday, August 19th. They set an overweight rating and a $79.00 price target for the company. Wells Fargo & Co reiterated a buy rating on shares of ConocoPhillips in a report on Tuesday, November 19th. UBS Group raised shares of ConocoPhillips from a neutral rating to a buy rating and boosted their price objective for the stock from $70.00 to $75.00 in a research report on Monday, September 16th. Finally, Goldman Sachs Group set a $67.00 target price on shares of ConocoPhillips and gave the stock a buy rating in a report on Friday, October 11th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company has an average rating of Buy and an average price target of $72.00.

COP opened at $61.97 on Thursday. The company has a market capitalization of $65.66 billion, a price-to-earnings ratio of 15.11, a P/E/G ratio of 1.74 and a beta of 1.10. The business’s 50-day moving average price is $58.00 and its two-hundred day moving average price is $57.62. ConocoPhillips has a 1 year low of $50.13 and a 1 year high of $71.01. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.56 and a quick ratio of 2.40.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Tuesday, October 29th. The energy producer reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.04. The company had revenue of $10.09 billion during the quarter, compared to analysts’ expectations of $7.06 billion. ConocoPhillips had a return on equity of 13.54% and a net margin of 21.44%. During the same period in the prior year, the firm earned $1.36 earnings per share. Sell-side analysts anticipate that ConocoPhillips will post 3.63 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Thursday, October 17th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.71%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Wednesday, October 16th. ConocoPhillips’s dividend payout ratio (DPR) is currently 37.09%.

Several large investors have recently bought and sold shares of the business. Rothschild & Co Wealth Management UK Ltd bought a new stake in ConocoPhillips during the second quarter worth $27,000. Valley National Advisers Inc. raised its holdings in shares of ConocoPhillips by 64.9% in the 2nd quarter. Valley National Advisers Inc. now owns 503 shares of the energy producer’s stock valued at $31,000 after purchasing an additional 198 shares during the period. AllSquare Wealth Management LLC raised its holdings in shares of ConocoPhillips by 1,018.0% in the 2nd quarter. AllSquare Wealth Management LLC now owns 559 shares of the energy producer’s stock valued at $34,000 after purchasing an additional 509 shares during the period. Prestige Wealth Management Group LLC bought a new stake in shares of ConocoPhillips in the 2nd quarter valued at about $38,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. acquired a new stake in ConocoPhillips in the 2nd quarter valued at about $45,000. 71.50% of the stock is currently owned by hedge funds and other institutional investors.

About ConocoPhillips

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the tight oil reservoirs, LNG, oil sands, and other production operations. Its portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.

See Also: How is diluted EPS different from basic EPS?

Analyst Recommendations for ConocoPhillips (NYSE:COP)

Receive News & Ratings for ConocoPhillips Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ConocoPhillips and related companies with's FREE daily email newsletter.


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit