ConocoPhillips’ (COP) Outperform Rating Reiterated at Evercore ISI

Evercore ISI reissued their outperform rating on shares of ConocoPhillips (NYSE:COP) in a research note issued to investors on Friday, MarketBeat Ratings reports. The firm currently has a $165.00 price objective on the energy producer’s stock.

Several other brokerages have also issued reports on COP. Barclays boosted their price target on ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. raised ConocoPhillips from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $120.00 to $123.00 in a research note on Thursday. Susquehanna upped their target price on ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research report on Friday, November 1st. Truist Financial lowered their target price on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Finally, Mizuho upped their target price on ConocoPhillips from $129.00 to $132.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $139.06.

ConocoPhillips Price Performance

Shares of COP opened at $103.22 on Friday. ConocoPhillips has a 52-week low of $101.29 and a 52-week high of $135.18. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. The business’s 50 day moving average price is $108.61 and its two-hundred day moving average price is $110.18. The firm has a market cap of $118.80 billion, a PE ratio of 12.27, a price-to-earnings-growth ratio of 0.85 and a beta of 1.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The firm had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. During the same period in the previous year, the firm earned $2.16 earnings per share. The company’s revenue was down 8.5% compared to the same quarter last year. On average, equities analysts anticipate that ConocoPhillips will post 7.76 EPS for the current year.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 11th were issued a dividend of $0.78 per share. The ex-dividend date was Friday, November 8th. This represents a $3.12 annualized dividend and a yield of 3.02%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio is 37.10%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Vicus Capital grew its stake in ConocoPhillips by 3.7% in the 2nd quarter. Vicus Capital now owns 2,637 shares of the energy producer’s stock valued at $302,000 after purchasing an additional 94 shares during the period. Montag A & Associates Inc. grew its stake in ConocoPhillips by 2.5% in the 2nd quarter. Montag A & Associates Inc. now owns 3,900 shares of the energy producer’s stock valued at $446,000 after purchasing an additional 96 shares during the period. Excalibur Management Corp grew its stake in ConocoPhillips by 2.4% in the 2nd quarter. Excalibur Management Corp now owns 4,037 shares of the energy producer’s stock valued at $462,000 after purchasing an additional 96 shares during the period. Cypress Capital Group grew its stake in ConocoPhillips by 0.5% in the 3rd quarter. Cypress Capital Group now owns 18,790 shares of the energy producer’s stock valued at $1,978,000 after purchasing an additional 96 shares during the period. Finally, Bank OZK grew its stake in ConocoPhillips by 1.6% in the 2nd quarter. Bank OZK now owns 6,251 shares of the energy producer’s stock valued at $715,000 after purchasing an additional 97 shares during the period. Institutional investors own 82.36% of the company’s stock.

About ConocoPhillips

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.