Morgan Stanley Boosts ConocoPhillips (COP) Price Target to $84.00

ConocoPhillips (NYSE:COP) had its target price upped by Morgan Stanley from $83.00 to $84.00 in a report issued on Thursday morning, BenzingaRatingsTable reports. Morgan Stanley currently has an overweight rating on the energy producer’s stock.

COP has been the topic of several other reports. Goldman Sachs Group raised shares of ConocoPhillips from a neutral rating to a buy rating and lifted their price target for the stock from $76.00 to $82.00 in a research note on Sunday, February 3rd. Zacks Investment Research raised shares of ConocoPhillips from a strong sell rating to a hold rating in a research note on Monday, February 11th. Piper Jaffray Companies raised shares of ConocoPhillips from a neutral rating to an overweight rating and lifted their price target for the stock from $68.00 to $75.00 in a research note on Thursday, March 21st. ValuEngine downgraded shares of ConocoPhillips from a hold rating to a sell rating in a research note on Friday, May 3rd. Finally, Credit Suisse Group downgraded shares of ConocoPhillips from an outperform rating to a neutral rating and set a $64.00 price target on the stock. in a research note on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the stock. ConocoPhillips presently has an average rating of Buy and an average price target of $78.60.

COP stock opened at $62.10 on Thursday. The company has a market cap of $70.18 billion, a price-to-earnings ratio of 13.71, a price-to-earnings-growth ratio of 1.50 and a beta of 1.06. ConocoPhillips has a one year low of $56.75 and a one year high of $80.24. The company has a current ratio of 1.86, a quick ratio of 1.72 and a debt-to-equity ratio of 0.45.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Tuesday, April 30th. The energy producer reported $1.00 EPS for the quarter, topping the consensus estimate of $0.92 by $0.08. The firm had revenue of $10.06 billion for the quarter, compared to the consensus estimate of $9.16 billion. ConocoPhillips had a net margin of 18.08% and a return on equity of 16.65%. During the same period last year, the firm posted $0.96 earnings per share. On average, analysts anticipate that ConocoPhillips will post 4.44 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 13th will be paid a $0.305 dividend. This represents a $1.22 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend is Friday, May 10th. ConocoPhillips’s payout ratio is 26.93%.

Several hedge funds and other institutional investors have recently modified their holdings of COP. Lenox Wealth Advisors LLC bought a new stake in ConocoPhillips in the first quarter valued at $27,000. Smart Portfolios LLC boosted its holdings in ConocoPhillips by 69.5% in the fourth quarter. Smart Portfolios LLC now owns 478 shares of the energy producer’s stock valued at $30,000 after acquiring an additional 196 shares in the last quarter. Athena Capital Advisors LLC bought a new stake in ConocoPhillips in the fourth quarter valued at $32,000. Clarfeld Financial Advisors LLC bought a new stake in ConocoPhillips in the fourth quarter valued at $32,000. Finally, Ironwood Financial llc boosted its holdings in ConocoPhillips by 294.1% in the fourth quarter. Ironwood Financial llc now owns 536 shares of the energy producer’s stock valued at $33,000 after acquiring an additional 400 shares in the last quarter. 74.69% 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. The company primarily engages in the tight oil reservoirs, LNG, oil sands, and other production operations. Its portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.

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Analyst Recommendations for ConocoPhillips (NYSE:COP)

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