ConocoPhillips (NYSE:COP) Downgraded by Societe Generale to Sell

Societe Generale downgraded shares of ConocoPhillips (NYSE:COPGet Rating) from a hold rating to a sell rating in a report released on Monday, Marketbeat Ratings reports. The firm currently has $114.00 target price on the energy producer’s stock. The analysts noted that the move was a valuation call.

Several other brokerages also recently weighed in on COP. Raymond James upped their target price on shares of ConocoPhillips from $135.00 to $150.00 and gave the stock a strong-buy rating in a report on Monday, October 24th. Mizuho dropped their target price on shares of ConocoPhillips from $138.00 to $135.00 and set a buy rating for the company in a report on Monday, October 24th. Bank of America upped their target price on shares of ConocoPhillips from $134.00 to $140.00 and gave the stock a buy rating in a report on Monday, September 19th. Jefferies Financial Group began coverage on shares of ConocoPhillips in a report on Wednesday, October 19th. They issued a buy rating and a $143.00 target price for the company. Finally, Citigroup increased their price objective on shares of ConocoPhillips from $115.00 to $132.00 in a report on Tuesday, October 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, ConocoPhillips presently has a consensus rating of Moderate Buy and an average price target of $132.43.

ConocoPhillips Trading Down 2.4 %

NYSE:COP opened at $125.49 on Monday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.46 and a quick ratio of 1.37. The firm has a market capitalization of $156.37 billion, a price-to-earnings ratio of 9.04, a price-to-earnings-growth ratio of 0.47 and a beta of 1.32. ConocoPhillips has a one year low of $66.06 and a one year high of $138.49. The business has a fifty day moving average price of $119.98 and a 200-day moving average price of $107.72.

ConocoPhillips Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 13th. Stockholders of record on Tuesday, December 27th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, December 23rd. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.46. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.63%. ConocoPhillips’s dividend payout ratio (DPR) is 14.70%.

Insider Transactions at ConocoPhillips

In other news, EVP Nicholas G. Olds sold 10,950 shares of the firm’s stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $116.52, for a total transaction of $1,275,894.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.40% of the company’s stock.

Hedge Funds Weigh In On ConocoPhillips

A number of hedge funds and other institutional investors have recently modified their holdings of COP. Delos Wealth Advisors LLC boosted its stake in shares of ConocoPhillips by 102.0% during the third quarter. Delos Wealth Advisors LLC now owns 297 shares of the energy producer’s stock valued at $30,000 after purchasing an additional 150 shares in the last quarter. Center for Financial Planning Inc. boosted its stake in shares of ConocoPhillips by 146.0% during the third quarter. Center for Financial Planning Inc. now owns 305 shares of the energy producer’s stock valued at $31,000 after purchasing an additional 181 shares in the last quarter. Activest Wealth Management boosted its stake in shares of ConocoPhillips by 30,200.0% during the third quarter. Activest Wealth Management now owns 303 shares of the energy producer’s stock valued at $31,000 after purchasing an additional 302 shares in the last quarter. Fairfield Bush & CO. bought a new position in shares of ConocoPhillips during the first quarter valued at approximately $31,000. Finally, Semmax Financial Advisors Inc. bought a new position in shares of ConocoPhillips during the third quarter valued at approximately $33,000. 79.66% of the stock is currently owned by institutional investors.

About ConocoPhillips

(Get Rating)

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. It primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.

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