ConocoPhillips (NYSE:COP – Free Report) had its price objective boosted by Scotiabank from $115.00 to $120.00 in a report issued on Friday, Benzinga reports. Scotiabank currently has a sector perform rating on the energy producer’s stock.
Several other research analysts have also weighed in on the company. Royal Bank of Canada lifted their target price on ConocoPhillips from $130.00 to $135.00 and gave the stock an outperform rating in a report on Tuesday, November 14th. UBS Group dropped their price target on ConocoPhillips from $149.00 to $138.00 and set a buy rating on the stock in a research note on Thursday, December 14th. JPMorgan Chase & Co. dropped their price target on ConocoPhillips from $153.00 to $141.00 and set a neutral rating on the stock in a research note on Friday, December 8th. Johnson Rice downgraded ConocoPhillips from an accumulate rating to a hold rating in a research note on Thursday, December 14th. Finally, Susquehanna dropped their price target on ConocoPhillips from $152.00 to $133.00 and set a positive rating on the stock in a research note on Friday, January 26th. Six research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, ConocoPhillips presently has a consensus rating of Moderate Buy and an average price target of $134.33.
ConocoPhillips Stock Down 0.1 %
ConocoPhillips (NYSE:COP – Get Free Report) last posted its earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.32. The firm had revenue of $15.31 billion for the quarter, compared to analyst estimates of $14.47 billion. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. During the same period in the previous year, the company posted $2.71 earnings per share. Equities research analysts expect that ConocoPhillips will post 9.45 earnings per share for the current year.
ConocoPhillips Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Monday, February 19th will be issued a dividend of $0.78 per share. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $3.12 dividend on an annualized basis and a yield of 2.81%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is presently 25.61%.
Hedge Funds Weigh In On ConocoPhillips
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. GM Advisory Group LLC bought a new stake in shares of ConocoPhillips during the fourth quarter worth approximately $228,000. Eagle Asset Management Inc. boosted its holdings in shares of ConocoPhillips by 0.7% during the fourth quarter. Eagle Asset Management Inc. now owns 30,912 shares of the energy producer’s stock worth $3,588,000 after acquiring an additional 208 shares during the period. Clear Rock Advisors LLC bought a new stake in shares of ConocoPhillips during the fourth quarter worth approximately $2,340,000. Warwick Investment Management Inc. boosted its holdings in shares of ConocoPhillips by 5.8% during the fourth quarter. Warwick Investment Management Inc. now owns 5,629 shares of the energy producer’s stock worth $653,000 after acquiring an additional 310 shares during the period. Finally, Alpha DNA Investment Management LLC boosted its holdings in shares of ConocoPhillips by 52.6% during the fourth quarter. Alpha DNA Investment Management LLC now owns 14,376 shares of the energy producer’s stock worth $1,669,000 after acquiring an additional 4,953 shares during the period. Institutional investors own 80.36% of the company’s stock.
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States and internationally. The company's 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 global exploration prospects.
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