ConocoPhillips (NYSE:COP) Shares Down 1.7%

ConocoPhillips (NYSE:COP) shares traded down 1.7% during mid-day trading on Wednesday . The company traded as low as $112.76 and last traded at $112.99. 1,270,502 shares traded hands during trading, a decline of 78% from the average session volume of 5,668,126 shares. The stock had previously closed at $114.99.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on COP. Barclays raised their price target on shares of ConocoPhillips from $158.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Morgan Stanley raised their price target on shares of ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Argus raised shares of ConocoPhillips to a “strong-buy” rating in a research report on Friday, June 7th. Royal Bank of Canada raised their price target on shares of ConocoPhillips from $135.00 to $140.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 15th. Finally, Raymond James reissued a “strong-buy” rating and set a $159.00 price target (up previously from $155.00) on shares of ConocoPhillips in a research report on Thursday, May 30th. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, ConocoPhillips presently has an average rating of “Moderate Buy” and an average price target of $144.18.

ConocoPhillips Trading Up 0.3 %

The company has a market cap of $133.33 billion, a price-to-earnings ratio of 12.91, a P/E/G ratio of 2.02 and a beta of 1.22. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.35 and a quick ratio of 1.21. The firm’s fifty day moving average price is $118.87 and its 200-day moving average price is $117.54.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, May 2nd. The energy producer reported $2.03 earnings per share 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 business had revenue of $14.48 billion for the quarter, compared to analysts’ expectations of $14.72 billion. On average, equities analysts expect that ConocoPhillips will post 8.89 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 13th were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date of this dividend was Friday, May 10th. ConocoPhillips’s dividend payout ratio is currently 26.27%.

Institutional Investors Weigh In On ConocoPhillips

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD raised its stake in shares of ConocoPhillips by 35.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 32,192,580 shares of the energy producer’s stock valued at $4,097,473,000 after purchasing an additional 8,479,963 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in ConocoPhillips by 0.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 27,672,104 shares of the energy producer’s stock valued at $3,211,901,000 after acquiring an additional 108,956 shares during the last quarter. Capital International Investors lifted its holdings in ConocoPhillips by 9.6% in the 1st quarter. Capital International Investors now owns 21,252,822 shares of the energy producer’s stock valued at $2,705,059,000 after acquiring an additional 1,856,085 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in ConocoPhillips by 5.8% in the 1st quarter. Bank of New York Mellon Corp now owns 14,986,970 shares of the energy producer’s stock valued at $1,907,542,000 after acquiring an additional 826,529 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in ConocoPhillips by 2.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 12,011,035 shares of the energy producer’s stock valued at $1,394,162,000 after acquiring an additional 270,859 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors.

About ConocoPhillips

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.