ConocoPhillips (NYSE:COP) Upgraded to Buy by StockNews.com

StockNews.com upgraded shares of ConocoPhillips (NYSE:COP) from a hold rating to a buy rating in a report issued on Thursday.

A number of other analysts have also recently weighed in on the company. Argus upgraded ConocoPhillips to a strong-buy rating in a research note on Friday, June 7th. Raymond James reissued a strong-buy rating and set a $159.00 target price (up previously from $155.00) on shares of ConocoPhillips in a research report on Thursday, May 30th. Bank of America reaffirmed a buy rating and issued a $147.00 price target on shares of ConocoPhillips in a report on Friday, June 14th. Barclays raised their price objective on shares of ConocoPhillips from $158.00 to $160.00 and gave the stock an overweight rating in a report on Thursday, May 30th. Finally, Susquehanna upped their target price on shares of ConocoPhillips from $133.00 to $154.00 and gave the company a positive rating in a report on Monday, April 22nd. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, ConocoPhillips currently has an average rating of Moderate Buy and a consensus price target of $144.18.

ConocoPhillips Stock Performance

Shares of COP opened at $114.00 on Thursday. The stock has a 50-day simple moving average of $118.87 and a 200-day simple moving average of $117.54. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.21 and a current ratio of 1.35. ConocoPhillips has a 1 year low of $99.35 and a 1 year high of $135.18. The stock has a market capitalization of $133.33 billion, a PE ratio of 12.91, a PEG ratio of 2.02 and a beta of 1.22.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, May 2nd. The energy producer reported $2.03 EPS for the quarter, topping the consensus estimate of $1.99 by $0.04. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. The company had revenue of $14.48 billion during the quarter, compared to analysts’ expectations of $14.72 billion. On average, analysts predict that ConocoPhillips will post 8.89 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

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

Hedge Funds Weigh In On ConocoPhillips

A number of hedge funds and other institutional investors have recently bought and sold shares of COP. Orion Capital Management LLC acquired a new position in ConocoPhillips during the 3rd quarter worth approximately $27,000. West Branch Capital LLC increased its position in shares of ConocoPhillips by 87.8% in the fourth quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock valued at $27,000 after buying an additional 108 shares in the last quarter. Sachetta LLC acquired a new stake in ConocoPhillips in the 4th quarter valued at about $27,000. Cooksen Wealth LLC purchased a new position in ConocoPhillips during the 4th quarter valued at about $27,000. Finally, Cape Investment Advisory Inc. raised its position in ConocoPhillips by 96.0% during the fourth quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock worth $29,000 after acquiring an additional 121 shares during the last quarter. 82.36% of the stock is currently owned by hedge funds and other 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.