ConocoPhillips (COP) Given Average Recommendation of “Buy” by Analysts

Shares of ConocoPhillips (NYSE:COP) have received a consensus rating of “Buy” from the twenty-four brokerages that are covering the firm, MarketBeat reports. Eight equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $74.89.

A number of brokerages recently issued reports on COP. Goldman Sachs Group cut ConocoPhillips from a “buy” rating to a “neutral” rating in a research note on Monday, October 1st. Morgan Stanley cut ConocoPhillips to a “hold” rating in a research note on Tuesday, October 2nd. Citigroup boosted their price objective on ConocoPhillips from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, October 5th. Zacks Investment Research upgraded ConocoPhillips from a “hold” rating to a “buy” rating and set a $88.00 price objective on the stock in a research note on Monday, October 8th. Finally, Royal Bank of Canada cut ConocoPhillips from an “outperform” rating to a “sector perform” rating and set a $90.00 price target on the stock. in a research report on Thursday, September 20th. They noted that the move was a valuation call.

In related news, SVP Janet Langford Kelly sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $72.37, for a total transaction of $3,618,500.00. Following the completion of the transaction, the senior vice president now owns 41,211 shares in the company, valued at $2,982,440.07. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Glenda Mae Schwarz sold 18,882 shares of the company’s stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $71.15, for a total value of $1,343,454.30. Following the transaction, the vice president now owns 29,064 shares of the company’s stock, valued at approximately $2,067,903.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 288,378 shares of company stock worth $20,769,145. 0.88% of the stock is owned by company insiders.

Several institutional investors have recently made changes to their positions in COP. Bank of Montreal Can raised its holdings in shares of ConocoPhillips by 101.9% during the third quarter. Bank of Montreal Can now owns 5,825,885 shares of the energy producer’s stock valued at $450,923,000 after acquiring an additional 2,940,689 shares in the last quarter. Hexavest Inc. bought a new position in ConocoPhillips in the second quarter worth $85,972,000. LFA Lugano Financial Advisors SA bought a new position in ConocoPhillips in the second quarter worth $801,000. Morgan Stanley raised its holdings in ConocoPhillips by 19.2% in the second quarter. Morgan Stanley now owns 4,826,136 shares of the energy producer’s stock worth $335,995,000 after purchasing an additional 776,284 shares in the last quarter. Finally, OppenheimerFunds Inc. increased its holdings in shares of ConocoPhillips by 67.0% during the second quarter. OppenheimerFunds Inc. now owns 1,708,483 shares of the energy producer’s stock valued at $118,944,000 after acquiring an additional 685,490 shares in the last quarter. Institutional investors own 71.29% of the company’s stock.

ConocoPhillips stock traded up $0.08 during midday trading on Thursday, reaching $72.56. The stock had a trading volume of 218,991 shares, compared to its average volume of 6,492,026. ConocoPhillips has a 12 month low of $48.97 and a 12 month high of $80.24. The stock has a market capitalization of $89.95 billion, a P/E ratio of 121.35, a P/E/G ratio of 1.95 and a beta of 1.23. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.58 and a current ratio of 1.75.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, July 26th. The energy producer reported $1.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.01. ConocoPhillips had a return on equity of 10.26% and a net margin of 13.26%. The business had revenue of $9.24 billion for the quarter, compared to analysts’ expectations of $9.79 billion. During the same period in the previous year, the business posted $0.14 EPS. Equities research analysts forecast that ConocoPhillips will post 4.41 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Monday, October 15th will be given a $0.305 dividend. This represents a $1.22 annualized dividend and a dividend yield of 1.68%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.29. The ex-dividend date is Friday, October 12th. ConocoPhillips’s dividend payout ratio is 203.33%.

ConocoPhillips declared that its board has authorized a stock buyback program on Thursday, July 12th that authorizes the company to repurchase $9.00 billion in outstanding shares. This repurchase authorization authorizes the energy producer to repurchase up to 10.7% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

ConocoPhillips Company Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. Its portfolio includes North American tight oil and oil sands assets in Canada; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; and an inventory of conventional and unconventional exploration prospects.

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Analyst Recommendations for ConocoPhillips (NYSE:COP)

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