ConocoPhillips (NYSE:COP) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen lowered shares of ConocoPhillips (NYSE:COP) from a hold rating to a sell rating in a report released on Saturday morning.

A number of other analysts have also recently commented on COP. Melius assumed coverage on ConocoPhillips in a research report on Wednesday, August 20th. They set a “hold” rating and a $117.00 price target for the company. Piper Sandler cut their price target on shares of ConocoPhillips from $124.00 to $115.00 and set an “overweight” rating on the stock in a report on Monday, October 13th. Barclays decreased their price objective on shares of ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating for the company in a research note on Tuesday, October 7th. Raymond James Financial cut their price objective on shares of ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating on the stock in a research note on Monday, September 8th. Finally, The Goldman Sachs Group decreased their target price on shares of ConocoPhillips from $111.00 to $108.00 and set a “buy” rating for the company in a research report on Friday. Seventeen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $115.00.

ConocoPhillips Stock Down 0.4%

COP stock opened at $86.53 on Friday. The stock has a market capitalization of $108.07 billion, a PE ratio of 11.61, a price-to-earnings-growth ratio of 2.32 and a beta of 0.62. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $115.38. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. The firm has a 50 day moving average of $94.04 and a 200 day moving average of $91.93.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.06. The business had revenue of $14.94 billion during the quarter, compared to analysts’ expectations of $14.39 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The business’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the company posted $1.98 earnings per share. Sell-side analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Monday, August 18th. ConocoPhillips’s dividend payout ratio (DPR) is presently 41.88%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Howard Hughes Medical Institute purchased a new position in ConocoPhillips during the second quarter valued at $25,000. Bogart Wealth LLC lifted its stake in ConocoPhillips by 136.8% in the 2nd quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock valued at $28,000 after buying an additional 182 shares in the last quarter. Activest Wealth Management lifted its stake in ConocoPhillips by 249.5% in the 2nd quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock valued at $29,000 after buying an additional 232 shares in the last quarter. Financial Network Wealth Advisors LLC lifted its stake in ConocoPhillips by 341.5% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock valued at $30,000 after buying an additional 222 shares in the last quarter. Finally, Stone House Investment Management LLC acquired a new stake in ConocoPhillips in the 1st quarter worth about $31,000. 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.