Mizuho upgraded shares of ConocoPhillips (NYSE:COP) from a neutral rating to a buy rating in a research report released on Wednesday, June 26th, Benzinga reports. The firm currently has $80.00 target price on the energy producer’s stock, up from their prior target price of $74.00.
Other equities analysts also recently issued research reports about the company. ValuEngine downgraded Universal Electronics from a strong-buy rating to a buy rating in a research report on Thursday, June 6th. Morgan Stanley set a $100.00 target price on Cimarex Energy and gave the company a buy rating in a research report on Thursday, May 16th. Zacks Investment Research raised Key Energy Services from a hold rating to a buy rating and set a $4.50 price target for the company in a report on Wednesday, March 13th. Credit Suisse Group reaffirmed an outperform rating and issued a GBX 2,012 ($26.29) price target on shares of Aston Martin Lagonda Global in a report on Wednesday, May 1st. Finally, Piper Jaffray Companies set a $30.00 price target on KLX Energy Services and gave the company a buy rating in a report on Thursday, March 21st. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $77.07.
NYSE:COP traded up $0.54 during mid-day trading on Wednesday, hitting $60.32. 5,272,341 shares of the company’s stock traded hands, compared to its average volume of 6,601,327. The stock has a fifty day moving average of $60.00. ConocoPhillips has a twelve month low of $56.75 and a twelve month high of $80.24. The company has a market cap of $68.00 billion, a P/E ratio of 13.32, a P/E/G ratio of 1.59 and a beta of 1.00. The company has a quick ratio of 1.72, a current ratio of 1.86 and a debt-to-equity ratio of 0.45.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Monday, July 22nd will be paid a dividend of $0.305 per share. This represents a $1.22 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend is Friday, July 19th. ConocoPhillips’s dividend payout ratio (DPR) is 26.93%.
A number of hedge funds have recently bought and sold shares of COP. Lenox Wealth Advisors LLC bought a new position in shares of ConocoPhillips during the first quarter worth about $27,000. Smart Portfolios LLC increased its stake in shares of ConocoPhillips by 69.5% during the fourth quarter. Smart Portfolios LLC now owns 478 shares of the energy producer’s stock valued at $30,000 after acquiring an additional 196 shares during the period. Clarfeld Financial Advisors LLC acquired a new position in ConocoPhillips in the fourth quarter worth approximately $32,000. Athena Capital Advisors LLC acquired a new position in ConocoPhillips in the fourth quarter worth approximately $32,000. Finally, Destination Wealth Management boosted its stake in ConocoPhillips by 592.6% in the 1st quarter. Destination Wealth Management now owns 561 shares of the energy producer’s stock worth $37,000 after purchasing an additional 480 shares during the period. 72.13% of the stock is currently owned by hedge funds and other institutional investors.
ConocoPhillips Company Profile
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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