Mizuho Cuts ConocoPhillips (NYSE:COP) Price Target to $120.00

by · The Markets Daily

ConocoPhillips (NYSE:COP – Free Report) had its target price reduced by Mizuho from $125.00 to $120.00 in a research note released on Monday morning,Benzinga reports. They currently have an outperform rating on the energy producer’s stock.

Several other brokerages have also issued reports on COP. Morgan Stanley reaffirmed an “overweight” rating and set a $123.00 price target (up previously from $119.00) on shares of ConocoPhillips in a research note on Sunday, August 10th. Melius started coverage on ConocoPhillips in a research note on Wednesday, August 20th. They set a “hold” rating and a $117.00 price target for the company. Susquehanna dropped their price target on ConocoPhillips from $114.00 to $113.00 and set a “positive” rating for the company in a research note on Wednesday, July 23rd. Wall Street Zen lowered ConocoPhillips from a “hold” rating to a “sell” rating in a research note on Friday, August 22nd. Finally, Bank of America dropped their target price on ConocoPhillips from $107.00 to $106.00 and set a “neutral” rating for the company in a report on Friday, May 23rd. Sixteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $120.62.

View Our Latest Analysis on COP

ConocoPhillips Trading Down 0.8%

Shares of COP stock opened at $93.81 on Monday. 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 business has a 50-day moving average price of $94.70 and a two-hundred day moving average price of $92.89. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $116.08. The firm has a market cap of $117.16 billion, a P/E ratio of 12.59, a price-to-earnings-growth ratio of 2.49 and a beta of 0.69.

ConocoPhillips (NYSE:COP – Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.06. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The firm had revenue of $14.94 billion during the quarter, compared to analyst estimates of $14.39 billion. During the same quarter in the previous year, the company posted $1.98 earnings per share. The company’s revenue was up 4.3% compared to the same quarter last year. Equities analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were paid a $0.78 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $3.12 dividend on an annualized basis and a yield of 3.3%. ConocoPhillips’s dividend payout ratio (DPR) is presently 41.88%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Howard Hughes Medical Institute bought a new stake in shares of ConocoPhillips during the 2nd quarter valued at about $25,000. 10Elms LLP bought a new stake in ConocoPhillips during the 4th quarter valued at approximately $28,000. Bogart Wealth LLC boosted its position in ConocoPhillips by 136.8% during the 2nd quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock valued at $28,000 after acquiring an additional 182 shares in the last quarter. Activest Wealth Management grew its holdings in shares of ConocoPhillips by 249.5% during the 2nd quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock worth $29,000 after acquiring an additional 232 shares during the period. Finally, Financial Network Wealth Advisors LLC raised its position in shares of ConocoPhillips by 341.5% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock worth $30,000 after acquiring an additional 222 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Company Profile

(Get Free Report)

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.

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