ConocoPhillips (NYSE:COP) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of ConocoPhillips (NYSE:COP) from a hold rating to a buy rating in a research note released on Thursday morning.

Other research analysts have also recently issued reports about the stock. Piper Sandler lifted their price target on shares of ConocoPhillips from $145.00 to $157.00 and gave the company an overweight rating in a research report on Thursday, April 18th. Susquehanna lifted their price target on shares of ConocoPhillips from $133.00 to $154.00 and gave the company a positive rating in a research report on Monday, April 22nd. Barclays lifted their price target on shares of ConocoPhillips from $158.00 to $160.00 and gave the company an overweight rating in a research report on Thursday, May 30th. Morgan Stanley lifted their price target on shares of ConocoPhillips from $123.00 to $129.00 and gave the company an overweight rating in a research report on Thursday, March 28th. Finally, Truist Financial lifted their price target on shares of ConocoPhillips from $160.00 to $165.00 and gave the company a buy rating in a research report on Monday, June 3rd. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, ConocoPhillips has an average rating of Moderate Buy and a consensus price target of $144.18.

ConocoPhillips Price Performance

ConocoPhillips stock opened at $114.38 on Thursday. ConocoPhillips has a 1 year low of $99.35 and a 1 year high of $135.18. The firm has a 50 day moving average price of $118.30 and a 200 day moving average price of $117.62. The company has a market cap of $133.77 billion, a price-to-earnings ratio of 12.95, a PEG ratio of 2.04 and a beta of 1.22. 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 released its earnings results on Thursday, May 2nd. The energy producer reported $2.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.04. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. The firm had revenue of $14.48 billion during the quarter, compared to the consensus estimate of $14.72 billion. Sell-side analysts predict that ConocoPhillips will post 8.89 earnings per share for the current year.

ConocoPhillips Announces Dividend

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

Institutional Trading of ConocoPhillips

Several institutional investors have recently added to or reduced their stakes in the stock. Bright Futures Wealth Management LLC. bought a new stake in ConocoPhillips during the first quarter valued at $463,000. Abich Financial Wealth Management LLC increased its stake in ConocoPhillips by 54.1% during the first quarter. Abich Financial Wealth Management LLC now owns 1,433 shares of the energy producer’s stock valued at $182,000 after purchasing an additional 503 shares during the last quarter. Cape Investment Advisory Inc. increased its stake in ConocoPhillips by 505.7% during the first quarter. Cape Investment Advisory Inc. now owns 1,496 shares of the energy producer’s stock valued at $190,000 after purchasing an additional 1,249 shares during the last quarter. Keynote Financial Services LLC bought a new stake in ConocoPhillips during the first quarter valued at $374,000. Finally, IMS Capital Management increased its stake in ConocoPhillips by 21.3% during the first quarter. IMS Capital Management now owns 2,566 shares of the energy producer’s stock valued at $327,000 after purchasing an additional 450 shares during the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

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.