ConocoPhillips (NYSE:COP) Downgraded by Raymond James to “Outperform”

Raymond James cut shares of ConocoPhillips (NYSE:COP) from a strong-buy rating to an outperform rating in a report issued on Monday morning, MarketBeat Ratings reports. Raymond James currently has $124.00 price target on the energy producer’s stock, down from their previous price target of $157.00.

Several other equities research analysts also recently issued reports on the stock. Susquehanna raised their price objective on shares of ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research note on Friday, November 1st. Morgan Stanley assumed coverage on shares of ConocoPhillips in a report on Monday, December 16th. They set an “overweight” rating and a $128.00 price objective on the stock. Wells Fargo & Company reduced their target price on shares of ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating for the company in a research note on Tuesday, January 14th. Evercore ISI restated an “outperform” rating and set a $165.00 price target on shares of ConocoPhillips in a research note on Friday, December 6th. Finally, Mizuho upgraded ConocoPhillips from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $132.00 to $134.00 in a research report on Monday, December 16th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $133.72.

ConocoPhillips Stock Performance

NYSE:COP opened at $99.39 on Monday. The firm has a market capitalization of $114.39 billion, a PE ratio of 12.76, a PEG ratio of 0.77 and a beta of 1.18. ConocoPhillips has a 1 year low of $94.23 and a 1 year high of $135.18. The company has a current ratio of 1.29, a quick ratio of 1.16 and a debt-to-equity ratio of 0.36. The firm’s fifty day simple moving average is $101.05 and its 200 day simple moving average is $106.11.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. On average, sell-side analysts anticipate that ConocoPhillips will post 8.3 EPS for the current year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 17th will be given a $0.78 dividend. The ex-dividend date is Friday, February 14th. This represents a $3.12 annualized dividend and a yield of 3.14%. ConocoPhillips’s payout ratio is 40.05%.

Insider Transactions at ConocoPhillips

In related news, Director Arjun N. Murti purchased 2,500 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were acquired at an average cost of $95.87 per share, with a total value of $239,675.00. Following the completion of the purchase, the director now directly owns 21,500 shares of the company’s stock, valued at $2,061,205. This trade represents a 13.16 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director R A. Walker acquired 10,400 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The stock was bought at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the transaction, the director now directly owns 38,000 shares in the company, valued at $3,716,400. The trade was a 37.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On ConocoPhillips

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Evoke Wealth LLC raised its holdings in ConocoPhillips by 3.2% during the 4th quarter. Evoke Wealth LLC now owns 33,184 shares of the energy producer’s stock worth $3,291,000 after purchasing an additional 1,028 shares during the last quarter. Horizon Investments LLC raised its stake in shares of ConocoPhillips by 10.0% during the fourth quarter. Horizon Investments LLC now owns 29,265 shares of the energy producer’s stock worth $2,902,000 after buying an additional 2,649 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in ConocoPhillips by 44.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 1,750,826 shares of the energy producer’s stock valued at $174,069,000 after buying an additional 540,702 shares during the period. Retirement Planning Co of New England Inc. grew its holdings in ConocoPhillips by 7.1% during the 4th quarter. Retirement Planning Co of New England Inc. now owns 2,206 shares of the energy producer’s stock worth $219,000 after acquiring an additional 147 shares during the period. Finally, Mystic Asset Management Inc. raised its position in shares of ConocoPhillips by 157.2% during the 4th quarter. Mystic Asset Management Inc. now owns 8,244 shares of the energy producer’s stock valued at $818,000 after acquiring an additional 5,039 shares during the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

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.