Barclays Begins Coverage on ConocoPhillips (NYSE:COP)

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Barclays began coverage on shares of ConocoPhillips (NYSE:COP) in a research note released on Monday, BenzingaRatingsTable reports. The firm issued an overweight rating and a $79.00 price target on the energy producer’s stock.

Several other equities analysts have also recently issued reports on the company. Zacks Investment Research upgraded ConocoPhillips from a strong sell rating to a hold rating and set a $52.00 price target on the stock in a research report on Thursday, July 11th. Morgan Stanley decreased their target price on ConocoPhillips from $84.00 to $81.00 and set an overweight rating on the stock in a report on Friday, July 12th. ValuEngine upgraded ConocoPhillips from a sell rating to a hold rating in a report on Thursday, June 27th. Credit Suisse Group cut ConocoPhillips from an outperform rating to a neutral rating and set a $64.00 target price on the stock. in a report on Wednesday, May 1st. Finally, Bank of America upgraded ConocoPhillips from a neutral rating to a buy rating and set a $75.00 target price on the stock in a report on Wednesday, July 17th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company has an average rating of Buy and a consensus price target of $76.85.

Shares of COP stock opened at $52.26 on Monday. ConocoPhillips has a 1 year low of $50.59 and a 1 year high of $80.24. The stock has a market cap of $58.52 billion, a PE ratio of 11.71, a price-to-earnings-growth ratio of 1.37 and a beta of 0.99. The business’s fifty day moving average is $57.33 and its 200-day moving average is $62.63. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.64 and a current ratio of 1.76.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Tuesday, July 30th. The energy producer reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.02). ConocoPhillips had a net margin of 18.33% and a return on equity of 15.96%. The firm had revenue of $8.38 billion for the quarter, compared to analyst estimates of $9.42 billion. During the same quarter last year, the business posted $1.09 earnings per share. The firm’s revenue for the quarter was down 9.3% compared to the same quarter last year. Equities research analysts predict that ConocoPhillips will post 4.04 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Monday, July 22nd will be issued a $0.305 dividend. This represents a $1.22 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date is Friday, July 19th. ConocoPhillips’s payout ratio is 26.93%.

Several hedge funds and other institutional investors have recently modified their holdings of COP. Nuveen Asset Management LLC grew its holdings in shares of ConocoPhillips by 12,704.0% in the 2nd quarter. Nuveen Asset Management LLC now owns 6,385,725 shares of the energy producer’s stock worth $389,529,000 after acquiring an additional 6,335,852 shares during the last quarter. BlackRock Inc. grew its holdings 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 valued at $4,879,663,000 after buying an additional 3,103,095 shares in the last quarter. MERIAN GLOBAL INVESTORS UK Ltd purchased a new position in shares of ConocoPhillips during the first quarter valued at $195,526,000. Wells Fargo & Company MN grew its holdings in shares of ConocoPhillips by 36.4% during the second quarter. Wells Fargo & Company MN now owns 4,998,770 shares of the energy producer’s stock valued at $304,924,000 after buying an additional 1,335,051 shares in the last quarter. Finally, Prudential Financial Inc. grew its holdings in shares of ConocoPhillips by 82.7% during the second quarter. Prudential Financial Inc. now owns 2,821,382 shares of the energy producer’s stock valued at $172,104,000 after buying an additional 1,276,955 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

About ConocoPhillips

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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Analyst Recommendations for ConocoPhillips (NYSE:COP)

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