Cfra Downgrades ConocoPhillips (NYSE:COP) to Hold

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Cfra lowered shares of ConocoPhillips (NYSE:COP) to a hold rating in a research report released on Wednesday morning, TipRanks reports. Cfra currently has $50.00 target price on the energy producer’s stock.

Other analysts have also recently issued research reports about the stock. ValuEngine upgraded shares of ConocoPhillips from a sell rating to a hold rating in a research report on Friday, May 1st. Morgan Stanley reduced their price objective on shares of ConocoPhillips from $79.00 to $40.00 and set an overweight rating for the company in a research note on Monday, March 16th. Wells Fargo & Co raised their target price on shares of ConocoPhillips from $45.00 to $48.00 and gave the company an overweight rating in a research note on Friday, April 17th. UBS Group cut their price objective on shares of ConocoPhillips from $85.00 to $50.00 and set a buy rating for the company in a research report on Tuesday, March 31st. Finally, Goldman Sachs Group upgraded shares of ConocoPhillips from a buy rating to a conviction-buy rating in a research report on Monday, May 4th. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. ConocoPhillips presently has an average rating of Buy and a consensus price target of $56.82.

Shares of ConocoPhillips stock traded down $2.99 during trading on Wednesday, reaching $42.92. The company’s stock had a trading volume of 366,391 shares, compared to its average volume of 9,802,487. ConocoPhillips has a one year low of $20.84 and a one year high of $67.13. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.04 and a current ratio of 2.16. The firm has a market cap of $51.06 billion, a price-to-earnings ratio of 13.79 and a beta of 1.70. The business’s fifty day moving average price is $41.81 and its 200-day moving average price is $49.72.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, April 30th. The energy producer reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.22. The company had revenue of $4.81 billion for the quarter, compared to analyst estimates of $6.55 billion. ConocoPhillips had a return on equity of 10.02% and a net margin of 11.51%. During the same period in the prior year, the company posted $1.00 EPS. Sell-side analysts anticipate that ConocoPhillips will post -1.04 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 11th were issued a $0.42 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $1.68 annualized dividend and a yield of 3.91%. ConocoPhillips’s payout ratio is 46.80%.

In related news, Director David Thomas Seaton purchased 2,400 shares of the firm’s stock in a transaction on Wednesday, May 13th. The stock was purchased at an average cost of $41.03 per share, with a total value of $98,472.00. Following the completion of the purchase, the director now owns 2,500 shares in the company, valued at approximately $102,575. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.70% of the company’s stock.

Several large investors have recently bought and sold shares of COP. Massachusetts Financial Services Co. MA increased its position in shares of ConocoPhillips by 999.1% during the first quarter. Massachusetts Financial Services Co. MA now owns 16,516,842 shares of the energy producer’s stock worth $508,719,000 after acquiring an additional 15,014,026 shares in the last quarter. Norges Bank bought a new stake in shares of ConocoPhillips during the fourth quarter worth about $787,934,000. Capital International Investors grew its position in ConocoPhillips by 41.4% in the 1st quarter. Capital International Investors now owns 25,605,628 shares of the energy producer’s stock worth $788,651,000 after purchasing an additional 7,497,157 shares in the last quarter. BlackRock Inc. grew its position in ConocoPhillips by 8.6% in the 1st quarter. BlackRock Inc. now owns 86,102,053 shares of the energy producer’s stock worth $2,651,945,000 after purchasing an additional 6,842,989 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its position in ConocoPhillips by 47.4% in the 4th quarter. Nuveen Asset Management LLC now owns 9,656,663 shares of the energy producer’s stock worth $627,973,000 after purchasing an additional 3,103,199 shares in the last quarter. 72.35% of the stock is owned by 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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Analyst Recommendations for ConocoPhillips (NYSE:COP)

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