ConocoPhillips (NYSE:COP) Given “Sector Perform” Rating at Scotiabank

Scotiabank reissued their sector perform rating on shares of ConocoPhillips (NYSE:COP) in a research report sent to investors on Thursday, PriceTargets.com reports. They currently have a $90.00 target price on the energy producer’s stock.

COP has been the topic of a number of other reports. The Goldman Sachs Group cut shares of ConocoPhillips from a buy rating to a neutral rating and set a $76.00 target price on the stock. in a research report on Monday, October 11th. Truist upped their price target on shares of ConocoPhillips from $84.00 to $100.00 and gave the company a buy rating in a report on Thursday, October 7th. KeyCorp upped their price target on shares of ConocoPhillips from $81.00 to $88.00 and gave the company an overweight rating in a report on Thursday. Truist Securities upped their price target on shares of ConocoPhillips from $84.00 to $100.00 and gave the company a buy rating in a report on Thursday, October 7th. Finally, Raymond James upped their price target on shares of ConocoPhillips from $90.00 to $100.00 and gave the company a strong-buy rating in a report on Tuesday, October 26th. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, ConocoPhillips presently has a consensus rating of Buy and an average target price of $83.26.

COP stock traded up $2.23 during midday trading on Thursday, reaching $85.85. 207,229 shares of the company’s stock traded hands, compared to its average volume of 7,124,066. The company has a market capitalization of $113.23 billion, a P/E ratio of 25.63, a PEG ratio of 0.66 and a beta of 1.61. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.93 and a quick ratio of 1.83. ConocoPhillips has a fifty-two week low of $39.70 and a fifty-two week high of $84.86. The business has a 50-day moving average price of $73.60 and a two-hundred day moving average price of $66.09.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Tuesday, November 2nd. The energy producer reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.24. The firm had revenue of $11.62 billion for the quarter, compared to analysts’ expectations of $11.34 billion. ConocoPhillips had a net margin of 12.18% and a return on equity of 11.87%. During the same period in the previous year, the company posted ($0.31) earnings per share. As a group, research analysts forecast that ConocoPhillips will post 5.89 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, January 14th. Stockholders of record on Monday, January 3rd will be paid a $0.20 dividend. The ex-dividend date is Friday, December 31st. This represents a $0.80 annualized dividend and a dividend yield of 0.93%. ConocoPhillips’s payout ratio is 58.04%.

In other news, SVP Ellen Desanctis sold 28,171 shares of the stock in a transaction on Thursday, December 9th. The stock was sold at an average price of $73.26, for a total transaction of $2,063,807.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Nicholas G. Olds sold 9,200 shares of the stock in a transaction on Thursday, November 4th. The stock was sold at an average price of $74.64, for a total value of $686,688.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 145,889 shares of company stock worth $10,680,170. Corporate insiders own 0.08% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Altfest L J & Co. Inc. lifted its holdings in shares of ConocoPhillips by 26.5% in the 3rd quarter. Altfest L J & Co. Inc. now owns 20,155 shares of the energy producer’s stock valued at $1,366,000 after acquiring an additional 4,224 shares during the last quarter. Eagle Asset Management Inc. lifted its stake in ConocoPhillips by 2.5% in the second quarter. Eagle Asset Management Inc. now owns 66,520 shares of the energy producer’s stock worth $4,051,000 after purchasing an additional 1,619 shares during the last quarter. Commerce Bank increased its position in shares of ConocoPhillips by 17.2% during the third quarter. Commerce Bank now owns 119,366 shares of the energy producer’s stock worth $8,090,000 after acquiring an additional 17,534 shares during the period. Easterly Investment Partners LLC increased its position in shares of ConocoPhillips by 680.7% during the third quarter. Easterly Investment Partners LLC now owns 31,227 shares of the energy producer’s stock worth $2,116,000 after acquiring an additional 27,227 shares during the period. Finally, JustInvest LLC increased its position in shares of ConocoPhillips by 120.5% during the second quarter. JustInvest LLC now owns 27,593 shares of the energy producer’s stock worth $1,680,000 after acquiring an additional 15,082 shares during the period. 78.94% of the stock is owned by hedge funds and other institutional investors.

About ConocoPhillips

ConocoPhillips engages in the exploration, production, transportation and marketing of crude oil, bitumen, natural gas, natural gas liquids, and liquefied natural gas on a worldwide basis. It operates through the following geographical segments: Alaska; Lower 48; Canada; Europe, Middle East and North Africa; Asia Pacific; and Other International.

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Analyst Recommendations for ConocoPhillips (NYSE:COP)

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