ConocoPhillips (NYSE:COP) Rating Increased to Outperform at Mizuho

Mizuho upgraded shares of ConocoPhillips (NYSE:COP) from a neutral rating to an outperform rating in a research report report published on Monday morning, MarketBeat Ratings reports. The brokerage currently has $134.00 target price on the energy producer’s stock, up from their previous target price of $132.00.

A number of other brokerages also recently weighed in on COP. Wells Fargo & Company raised their target price on shares of ConocoPhillips from $131.00 to $134.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. UBS Group reduced their price objective on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Evercore ISI reiterated an “outperform” rating and set a $165.00 price objective on shares of ConocoPhillips in a research note on Friday, December 6th. Royal Bank of Canada reissued an “outperform” rating and issued a $140.00 target price on shares of ConocoPhillips in a research note on Friday, September 13th. Finally, JPMorgan Chase & Co. raised ConocoPhillips from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $120.00 to $123.00 in a research report on Thursday, December 5th. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $139.24.

ConocoPhillips Price Performance

Shares of COP stock opened at $99.57 on Monday. The business’s fifty day moving average is $107.46 and its 200 day moving average is $109.54. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The stock has a market cap of $114.60 billion, a price-to-earnings ratio of 11.84, a PEG ratio of 0.83 and a beta of 1.18. ConocoPhillips has a twelve month low of $99.43 and a twelve month high of $135.18.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. The firm had revenue of $13.60 billion for the quarter, compared to analysts’ expectations of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The company’s quarterly revenue was down 8.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.16 EPS. Research analysts expect that ConocoPhillips will post 7.77 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 11th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date of this dividend was Friday, November 8th. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio is 37.10%.

Hedge Funds Weigh In On ConocoPhillips

Several institutional investors have recently made changes to their positions in COP. Values First Advisors Inc. purchased a new stake in ConocoPhillips during the third quarter valued at approximately $26,000. Stephens Consulting LLC increased its stake in shares of ConocoPhillips by 69.3% in the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after purchasing an additional 104 shares in the last quarter. Reston Wealth Management LLC purchased a new stake in shares of ConocoPhillips in the 3rd quarter worth $31,000. Truvestments Capital LLC purchased a new position in ConocoPhillips during the third quarter valued at $31,000. Finally, Y.D. More Investments Ltd bought a new stake in ConocoPhillips during the second quarter valued at about $35,000. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Company Profile

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.