ConocoPhillips (COP) Given a $77.00 Price Target by Morgan Stanley Analysts

Morgan Stanley set a $77.00 price target on ConocoPhillips (NYSE:COP) in a research note released on Tuesday, January 29th. The firm currently has a buy rating on the energy producer’s stock.

Several other research firms have also commented on COP. Zacks Investment Research upgraded ConocoPhillips from a hold rating to a buy rating and set a $88.00 price objective for the company in a research note on Monday, October 8th. Citigroup increased their price target on ConocoPhillips from $80.00 to $90.00 and gave the stock a buy rating in a research note on Friday, October 5th. Mizuho set a $68.00 price target on ConocoPhillips and gave the stock a hold rating in a research note on Monday, December 3rd. Bank of America raised shares of ConocoPhillips from a neutral rating to a buy rating and set a $85.00 price objective for the company in a report on Monday, October 29th. Finally, Barclays reaffirmed a buy rating and issued a $79.00 price target on shares of ConocoPhillips in a report on Friday, January 11th. Nine research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The company has a consensus rating of Buy and an average target price of $76.41.

Shares of COP opened at $67.78 on Tuesday. The firm has a market cap of $76.83 billion, a price-to-earnings ratio of 14.96, a P/E/G ratio of 2.20 and a beta of 1.11. The company has a quick ratio of 1.66, a current ratio of 1.79 and a debt-to-equity ratio of 0.46. ConocoPhillips has a 1-year low of $52.54 and a 1-year high of $80.24.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, January 31st. The energy producer reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.08. The business had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.60 billion. ConocoPhillips had a net margin of 16.16% and a return on equity of 16.91%. During the same period in the previous year, the business earned $0.45 EPS. Sell-side analysts expect that ConocoPhillips will post 3.35 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Monday, February 11th will be issued a dividend of $0.305 per share. This represents a $1.22 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend is Friday, February 8th. ConocoPhillips’s payout ratio is 26.93%.

A number of hedge funds have recently modified their holdings of COP. Bank of New York Mellon Corp boosted its stake in ConocoPhillips by 54,716.8% in the third quarter. Bank of New York Mellon Corp now owns 12,236,749 shares of the energy producer’s stock valued at $947,125,000 after acquiring an additional 12,214,426 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in ConocoPhillips by 6,059.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 7,910,095 shares of the energy producer’s stock valued at $127,000 after acquiring an additional 7,781,667 shares in the last quarter. AQR Capital Management LLC boosted its stake in ConocoPhillips by 85.1% in the third quarter. AQR Capital Management LLC now owns 8,596,351 shares of the energy producer’s stock valued at $665,357,000 after acquiring an additional 3,951,688 shares in the last quarter. Bank of Montreal Can boosted its stake in ConocoPhillips by 101.9% in the third quarter. Bank of Montreal Can now owns 5,825,885 shares of the energy producer’s stock valued at $450,923,000 after acquiring an additional 2,940,689 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in ConocoPhillips by 28.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 11,387,748 shares of the energy producer’s stock valued at $710,012,000 after acquiring an additional 2,532,290 shares in the last quarter. 72.30% of the stock is currently 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. 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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Analyst Recommendations for ConocoPhillips (NYSE:COP)

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