ConocoPhillips (NYSE:COP) Raised to "Outperform" at Mizuho

Mizuho upgraded shares of ConocoPhillips (NYSE:COP - Free Report) from a neutral rating to an outperform rating in a research report released on Monday, MarketBeat reports. The brokerage currently has $134.00 price target on the energy producer's stock, up from their previous price target of $132.00.

COP has been the subject of several other research reports. Wells Fargo & Company raised their price objective on ConocoPhillips from $131.00 to $134.00 and gave the company an "overweight" rating in a report on Monday, December 9th. JPMorgan Chase & Co. upgraded ConocoPhillips from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $120.00 to $123.00 in a research note on Thursday, December 5th. Truist Financial decreased their target price on shares of ConocoPhillips from $145.00 to $138.00 and set a "buy" rating for the company in a research note on Monday, September 30th. Susquehanna upped their price target on shares of ConocoPhillips from $144.00 to $148.00 and gave the stock a "positive" rating in a research report on Friday, November 1st. Finally, Evercore ISI reissued an "outperform" rating and issued a $165.00 price objective on shares of ConocoPhillips in a research report on Friday, December 6th. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $139.24.

ConocoPhillips Stock Down 1.4 %

NYSE COP traded down $1.45 on Monday, reaching $99.57. The company had a trading volume of 6,789,285 shares, compared to its average volume of 6,023,339. The company's fifty day moving average is $107.76 and its 200-day moving average is $109.64. ConocoPhillips has a 1-year low of $99.43 and a 1-year high of $135.18. The firm has a market capitalization of $114.60 billion, a price-to-earnings ratio of 12.01, a price-to-earnings-growth ratio of 0.83 and a beta of 1.18. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.68 by $0.10. The business had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. ConocoPhillips's quarterly revenue was down 8.5% on a year-over-year basis. During the same period last year, the company earned $2.16 earnings per share. On average, research analysts forecast that ConocoPhillips will post 7.77 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 11th were issued a dividend of $0.78 per share. This is a boost from ConocoPhillips's previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a yield of 3.13%. The ex-dividend date of this dividend was Friday, November 8th. ConocoPhillips's dividend payout ratio (DPR) is presently 37.10%.

Hedge Funds Weigh In On ConocoPhillips

Several institutional investors and hedge funds have recently modified their holdings of COP. Values First Advisors Inc. acquired a new position in shares of ConocoPhillips during the 3rd quarter worth approximately $26,000. Stephens Consulting LLC boosted its stake in shares of ConocoPhillips by 69.3% in the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer's stock valued at $29,000 after buying an additional 104 shares during the period. Reston Wealth Management LLC bought a new stake in shares of ConocoPhillips in the third quarter valued at approximately $31,000. Truvestments Capital LLC acquired a new stake in ConocoPhillips during the third quarter worth approximately $31,000. Finally, Y.D. More Investments Ltd bought a new position in ConocoPhillips during the 2nd quarter worth $35,000. 82.36% of the stock is currently 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.