Atlantic Securities began coverage on shares of ConocoPhillips (NYSE:COP) in a report issued on Friday morning, BenzingaRatingsTable reports. The brokerage issued an overweight rating and a $75.00 target price on the energy producer’s stock.
A number of other equities research analysts have also recently weighed in on COP. Wells Fargo & Co reaffirmed a buy rating on shares of ConocoPhillips in a report on Tuesday, November 19th. Goldman Sachs Group set a $67.00 target price on ConocoPhillips and gave the company a buy rating in a research note on Friday, October 11th. Piper Jaffray Companies assumed coverage on ConocoPhillips in a research note on Tuesday, November 26th. They issued a buy rating and a $74.00 target price for the company. MKM Partners assumed coverage on ConocoPhillips in a research note on Thursday, December 5th. They issued a buy rating and a $72.00 target price for the company. Finally, Morgan Stanley lowered their target price on ConocoPhillips from $81.00 to $79.00 and set an overweight rating for the company in a research note on Monday, October 14th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. ConocoPhillips has an average rating of Buy and a consensus target price of $72.23.
COP stock traded up $0.11 during midday trading on Friday, reaching $62.70. 5,940,919 shares of the company’s stock traded hands, compared to its average volume of 6,054,278. The company has a 50-day simple moving average of $58.99 and a two-hundred day simple moving average of $57.64. ConocoPhillips has a 1-year low of $50.13 and a 1-year high of $71.01. The company has a market cap of $67.68 billion, a price-to-earnings ratio of 13.84, a PEG ratio of 1.79 and a beta of 1.10. The company has a quick ratio of 2.40, a current ratio of 2.56 and a debt-to-equity ratio of 0.42.
The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Thursday, October 17th were paid a dividend of $0.42 per share. The ex-dividend date was Wednesday, October 16th. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.31. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.68%. ConocoPhillips’s payout ratio is 37.09%.
Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of ConocoPhillips by 0.3% during the second quarter. Vanguard Group Inc. now owns 90,335,159 shares of the energy producer’s stock worth $5,510,444,000 after purchasing an additional 269,794 shares during the period. BlackRock Inc. grew its stake in shares of ConocoPhillips by 4.0% during the second quarter. BlackRock Inc. now owns 79,994,496 shares of the energy producer’s stock worth $4,879,663,000 after purchasing an additional 3,103,095 shares during the period. Macquarie Group Ltd. grew its stake in shares of ConocoPhillips by 5.7% during the second quarter. Macquarie Group Ltd. now owns 11,246,886 shares of the energy producer’s stock worth $686,060,000 after purchasing an additional 602,772 shares during the period. Invesco Ltd. grew its stake in shares of ConocoPhillips by 8.6% during the second quarter. Invesco Ltd. now owns 9,448,755 shares of the energy producer’s stock worth $576,376,000 after purchasing an additional 749,531 shares during the period. Finally, Boston Partners grew its stake in shares of ConocoPhillips by 19.9% during the third quarter. Boston Partners now owns 8,235,338 shares of the energy producer’s stock worth $469,263,000 after purchasing an additional 1,364,667 shares during the period. 71.68% of the stock is owned by institutional investors and hedge funds.
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.
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