ConocoPhillips (NYSE:COP) PT Lowered to $80.00 at JPMorgan Chase & Co.

ConocoPhillips (NYSE:COP) had its price objective trimmed by JPMorgan Chase & Co. from $83.00 to $80.00 in a report published on Tuesday morning, BenzingaRatingsTable reports. The firm currently has an overweight rating on the energy producer’s stock.

Several other equities analysts have also commented on COP. Mizuho began coverage on shares of Avrobio in a research report on Wednesday, June 26th. They set a buy rating and a $28.00 price target for the company. ValuEngine upgraded shares of Zogenix from a buy rating to a strong-buy rating in a research report on Thursday, June 27th. Morgan Stanley set a $100.00 price target on shares of Cimarex Energy and gave the stock a buy rating in a research report on Thursday, May 16th. Piper Jaffray Companies set a $30.00 price target on shares of KLX Energy Services and gave the stock a buy rating in a research report on Thursday, March 21st. Finally, Zacks Investment Research upgraded shares of Key Energy Services from a hold rating to a buy rating and set a $4.50 target price for the company in a research report on Wednesday, March 13th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $77.07.

ConocoPhillips stock opened at $61.76 on Tuesday. The business’s 50-day moving average price is $59.91. The company has a market capitalization of $69.46 billion, a price-to-earnings ratio of 13.63, a P/E/G ratio of 1.62 and a beta of 1.00. The company has a quick ratio of 1.72, a current ratio of 1.86 and a debt-to-equity ratio of 0.45. ConocoPhillips has a one year low of $56.75 and a one year high of $80.24.

ConocoPhillips (NYSE:COP) last released 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 business had revenue of $10.06 billion during the quarter, compared to analyst estimates of $9.16 billion. ConocoPhillips had a net margin of 18.08% and a return on equity of 16.65%. During the same quarter in the prior year, the firm earned $0.96 earnings per share. As a group, research analysts expect that ConocoPhillips will post 3.99 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Monday, July 22nd will be given a $0.305 dividend. The ex-dividend date is Friday, July 19th. This represents a $1.22 dividend on an annualized basis and a yield of 1.98%. ConocoPhillips’s dividend payout ratio is presently 26.93%.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Lenox Wealth Advisors LLC bought a new position in shares of ConocoPhillips during the 1st quarter valued at about $27,000. Clarfeld Financial Advisors LLC bought a new position in shares of ConocoPhillips during the 4th quarter valued at about $32,000. Destination Wealth Management boosted its position in shares of ConocoPhillips by 592.6% during the 1st quarter. Destination Wealth Management now owns 561 shares of the energy producer’s stock valued at $37,000 after purchasing an additional 480 shares in the last quarter. Truvestments Capital LLC bought a new position in shares of ConocoPhillips during the 1st quarter valued at about $42,000. Finally, Glassman Wealth Services boosted its position in shares of ConocoPhillips by 779.2% during the 1st quarter. Glassman Wealth Services now owns 633 shares of the energy producer’s stock valued at $42,000 after purchasing an additional 561 shares in the last quarter. Hedge funds and other institutional investors own 72.09% 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 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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