ConocoPhillips (NYSE:COP) Now Covered by Morgan Stanley

Morgan Stanley assumed coverage on shares of ConocoPhillips (NYSE:COP) in a research report released on Monday, MarketBeat reports. The firm issued an overweight rating and a $128.00 price target on the energy producer’s stock.

A number of other equities research analysts have also weighed in on the stock. Wells Fargo & Company boosted their price objective on shares of ConocoPhillips from $131.00 to $134.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $140.00 price target on shares of ConocoPhillips in a research note on Friday, September 13th. Susquehanna increased their price objective on shares of ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a report on Friday, November 1st. Truist Financial decreased their price objective on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Finally, Barclays lifted their target price on shares of ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, 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 stock has a market capitalization of $114.60 billion, a price-to-earnings ratio of 11.84, a P/E/G ratio of 0.83 and a beta of 1.18. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. ConocoPhillips has a twelve month low of $99.43 and a twelve month high of $135.18. The stock has a fifty day simple moving average of $107.46 and a two-hundred day simple moving average of $109.54.

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

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 11th were paid a $0.78 dividend. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a yield of 3.13%. The ex-dividend date of this dividend was Friday, November 8th. ConocoPhillips’s dividend payout ratio is currently 37.10%.

Institutional Trading of ConocoPhillips

Several institutional investors have recently modified their holdings of the stock. Vicus Capital lifted its stake in shares of ConocoPhillips by 3.7% in the 2nd quarter. Vicus Capital now owns 2,637 shares of the energy producer’s stock worth $302,000 after acquiring an additional 94 shares during the period. Montag A & Associates Inc. increased its holdings in shares of ConocoPhillips by 2.5% in the second quarter. Montag A & Associates Inc. now owns 3,900 shares of the energy producer’s stock valued at $446,000 after buying an additional 96 shares in the last quarter. Excalibur Management Corp lifted its stake in ConocoPhillips by 2.4% during the second quarter. Excalibur Management Corp now owns 4,037 shares of the energy producer’s stock valued at $462,000 after buying an additional 96 shares in the last quarter. Cypress Capital Group lifted its holdings in shares of ConocoPhillips by 0.5% in the third 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 in the last quarter. Finally, Bank OZK lifted its position in shares of ConocoPhillips by 1.6% in the second quarter. Bank OZK now owns 6,251 shares of the energy producer’s stock worth $715,000 after purchasing an additional 97 shares in the last quarter. Hedge funds and other 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.