ConocoPhillips (NYSE:COP) Upgraded at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of ConocoPhillips (NYSE:COP) from a neutral rating to an overweight rating in a research note issued to investors on Thursday, Marketbeat reports. They currently have $123.00 target price on the energy producer’s stock, up from their previous target price of $120.00.

Several other equities research analysts also recently commented on the company. Susquehanna upped their target price on ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a report on Friday, November 1st. UBS Group dropped their target price on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Scotiabank cut their target price on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Barclays upped their price target on shares of ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Finally, Mizuho lifted their price objective on ConocoPhillips from $129.00 to $132.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and an average target price of $139.06.

ConocoPhillips Trading Down 1.2 %

Shares of COP stock opened at $103.22 on Thursday. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The stock has a 50-day simple moving average of $108.61 and a 200 day simple moving average of $110.23. ConocoPhillips has a fifty-two week low of $101.29 and a fifty-two week high of $135.18. The stock has a market capitalization of $118.80 billion, a P/E ratio of 12.27, a P/E/G ratio of 0.85 and a beta of 1.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The company had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.97 billion. During the same quarter last year, the firm posted $2.16 EPS. The business’s revenue for the quarter was down 8.5% on a year-over-year basis. On average, sell-side analysts expect that ConocoPhillips will post 7.76 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were paid a $0.78 dividend. The ex-dividend date of this dividend was Friday, November 8th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.02%. ConocoPhillips’s payout ratio is presently 37.10%.

Institutional Trading of ConocoPhillips

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CHICAGO TRUST Co NA grew its stake in shares of ConocoPhillips by 14.4% in the second quarter. CHICAGO TRUST Co NA now owns 2,417 shares of the energy producer’s stock worth $276,000 after acquiring an additional 305 shares during the last quarter. Sax Wealth Advisors LLC grew its position in ConocoPhillips by 18.5% in the 2nd quarter. Sax Wealth Advisors LLC now owns 2,165 shares of the energy producer’s stock worth $248,000 after purchasing an additional 338 shares during the last quarter. Sendero Wealth Management LLC increased its holdings in shares of ConocoPhillips by 12.5% during the 2nd quarter. Sendero Wealth Management LLC now owns 74,365 shares of the energy producer’s stock worth $8,506,000 after purchasing an additional 8,289 shares during the period. Atlas Private Wealth Advisors raised its position in shares of ConocoPhillips by 87.3% during the second quarter. Atlas Private Wealth Advisors now owns 3,790 shares of the energy producer’s stock valued at $433,000 after buying an additional 1,766 shares during the last quarter. Finally, Cypress Wealth Services LLC lifted its stake in shares of ConocoPhillips by 42.0% in the second quarter. Cypress Wealth Services LLC now owns 2,530 shares of the energy producer’s stock valued at $289,000 after buying an additional 748 shares during the period. Institutional investors and hedge funds own 82.36% 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 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.