ConocoPhillips (NYSE:COP) Price Target Lowered to $140.00 at UBS Group

ConocoPhillips (NYSE:COP) had its price objective trimmed by UBS Group from $153.00 to $140.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a buy rating on the energy producer’s stock.

Several other brokerages also recently weighed in on COP. Sanford C. Bernstein cut their price target on shares of ConocoPhillips from $147.00 to $132.00 and set an outperform rating on the stock in a report on Wednesday, July 17th. Truist Financial reduced their target price on shares of ConocoPhillips from $147.00 to $145.00 and set a buy rating for the company in a report on Friday, August 2nd. Wells Fargo & Company lowered their price target on shares of ConocoPhillips from $151.00 to $150.00 and set an overweight rating on the stock in a report on Friday, August 2nd. Susquehanna reduced their price objective on ConocoPhillips from $154.00 to $147.00 and set a positive rating for the company in a research note on Wednesday, September 4th. Finally, Raymond James restated a strong-buy rating and issued a $159.00 target price (up previously from $155.00) on shares of ConocoPhillips in a research note on Thursday, May 30th. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, ConocoPhillips has an average rating of Moderate Buy and a consensus target price of $142.29.

ConocoPhillips Price Performance

Shares of COP opened at $108.64 on Wednesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.33 and a quick ratio of 1.19. The company’s fifty day moving average price is $109.89 and its 200-day moving average price is $116.59. ConocoPhillips has a 1-year low of $101.29 and a 1-year high of $135.18. The firm has a market capitalization of $126.16 billion, a PE ratio of 12.30, a price-to-earnings-growth ratio of 0.78 and a beta of 1.22.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.02. The business had revenue of $14.14 billion for the quarter, compared to the consensus estimate of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. During the same quarter in the previous year, the business earned $1.84 EPS. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. On average, equities research analysts predict that ConocoPhillips will post 8.41 EPS for the current year.

ConocoPhillips Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 2.14%. The ex-dividend date was Monday, August 12th. ConocoPhillips’s payout ratio is 26.27%.

Insider Activity

In related news, Director Timothy A. Leach sold 55,500 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total value of $6,000,105.00. Following the transaction, the director now directly owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.34% of the company’s stock.

Institutional Trading of ConocoPhillips

Institutional investors have recently made changes to their positions in the company. Heritage Wealth Management Inc. acquired a new position in ConocoPhillips in the 2nd quarter valued at $1,366,000. Lazari Capital Management Inc. raised its position in shares of ConocoPhillips by 2.1% in the second quarter. Lazari Capital Management Inc. now owns 12,803 shares of the energy producer’s stock valued at $1,464,000 after buying an additional 262 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in shares of ConocoPhillips in the second quarter worth about $29,201,000. Clear Rock Advisors LLC boosted its position in ConocoPhillips by 2.9% during the second quarter. Clear Rock Advisors LLC now owns 22,274 shares of the energy producer’s stock worth $2,548,000 after acquiring an additional 627 shares during the last quarter. Finally, Brown Financial Advisors purchased a new stake in ConocoPhillips during the 2nd quarter valued at about $1,277,000. 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.