ConocoPhillips (NYSE:COP) – Investment analysts at Jefferies Financial Group increased their FY2018 earnings per share (EPS) estimates for ConocoPhillips in a report issued on Wednesday, August 15th. Jefferies Financial Group analyst J. Gammel now forecasts that the energy producer will post earnings per share of $4.93 for the year, up from their prior forecast of $4.76. Jefferies Financial Group has a “Hold” rating and a $80.00 price target on the stock.
Several other research firms also recently issued reports on COP. Argus set a $76.00 price target on shares of ConocoPhillips and gave the company a “buy” rating in a research note on Friday, May 4th. JPMorgan Chase & Co. raised their price target on shares of ConocoPhillips from $82.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday, July 27th. Morgan Stanley raised their price target on shares of ConocoPhillips from $83.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday. TheStreet raised shares of ConocoPhillips from a “c+” rating to a “b-” rating in a research note on Wednesday, April 25th. Finally, Barclays raised their price target on shares of ConocoPhillips from $71.00 to $78.00 and gave the company an “overweight” rating in a research note on Friday, April 27th. Five equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. ConocoPhillips currently has a consensus rating of “Buy” and an average target price of $71.32.
Shares of ConocoPhillips stock opened at $69.77 on Monday. ConocoPhillips has a fifty-two week low of $42.26 and a fifty-two week high of $73.75. The company has a current ratio of 1.75, a quick ratio of 1.58 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $83.60 billion, a price-to-earnings ratio of 116.28, a P/E/G ratio of 1.88 and a beta of 1.20.
ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, July 26th. The energy producer reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. ConocoPhillips had a net margin of 13.26% and a return on equity of 10.26%. The firm had revenue of $9.24 billion for the quarter, compared to analyst estimates of $9.79 billion. During the same quarter last year, the business posted $0.14 earnings per share.
A number of hedge funds and other institutional investors have recently made changes to their positions in COP. Boston Partners grew its holdings in ConocoPhillips by 4.4% in the second quarter. Boston Partners now owns 8,577,059 shares of the energy producer’s stock worth $597,135,000 after purchasing an additional 363,322 shares during the period. Dimensional Fund Advisors LP grew its holdings in ConocoPhillips by 1.0% in the second quarter. Dimensional Fund Advisors LP now owns 7,890,979 shares of the energy producer’s stock worth $549,320,000 after purchasing an additional 79,406 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in ConocoPhillips by 2.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 6,653,200 shares of the energy producer’s stock worth $463,196,000 after purchasing an additional 179,404 shares during the period. Putnam Investments LLC grew its holdings in ConocoPhillips by 10.4% in the second quarter. Putnam Investments LLC now owns 5,686,497 shares of the energy producer’s stock worth $395,894,000 after purchasing an additional 535,141 shares during the period. Finally, Prudential Financial Inc. grew its holdings in ConocoPhillips by 35.2% in the first quarter. Prudential Financial Inc. now owns 4,926,665 shares of the energy producer’s stock worth $292,101,000 after purchasing an additional 1,282,558 shares during the period. 71.47% of the stock is owned by institutional investors and hedge funds.
In related news, VP Glenda Mae Schwarz sold 6,763 shares of ConocoPhillips stock in a transaction on Friday, May 25th. The shares were sold at an average price of $65.04, for a total transaction of $439,865.52. Following the completion of the transaction, the vice president now owns 10,182 shares of the company’s stock, valued at $662,237.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Janet Langford Kelly sold 49,496 shares of ConocoPhillips stock in a transaction on Tuesday, May 22nd. The stock was sold at an average price of $71.00, for a total transaction of $3,514,216.00. Following the transaction, the senior vice president now directly owns 41,211 shares of the company’s stock, valued at approximately $2,925,981. The disclosure for this sale can be found here. 0.88% of the stock is owned by company insiders.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 4th. Investors of record on Monday, July 23rd will be paid a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date is Friday, July 20th. ConocoPhillips’s dividend payout ratio is presently 190.00%.
ConocoPhillips announced that its board has approved a share repurchase program on Thursday, July 12th that authorizes the company to repurchase $9.00 billion in shares. This repurchase authorization authorizes the energy producer to purchase up to 10.7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.
ConocoPhillips Company Profile
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. Its portfolio includes North American tight oil and oil sands assets in Canada; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; and an inventory of conventional and unconventional exploration prospects.
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