ConocoPhillips (NYSE:COP) Price Target Cut to $126.00 by Analysts at Morgan Stanley

ConocoPhillips (NYSE:COP) had its price target decreased by Morgan Stanley from $131.00 to $126.00 in a report issued on Thursday,Benzinga reports. Morgan Stanley currently has an overweight rating on the energy producer’s stock.

Several other analysts have also recently weighed in on COP. JPMorgan Chase & Co. reduced their price target on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. UBS Group reduced their target price on shares of ConocoPhillips from $140.00 to $137.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. TD Cowen started coverage on shares of ConocoPhillips in a research note on Friday, January 17th. They set a “buy” rating and a $125.00 price target for the company. Wells Fargo & Company reduced their price objective on shares of ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. Finally, Truist Financial raised their target price on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.95.

ConocoPhillips Price Performance

Shares of NYSE:COP opened at $102.86 on Thursday. ConocoPhillips has a one year low of $86.81 and a one year high of $135.18. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. The company has a market cap of $130.87 billion, a price-to-earnings ratio of 13.20, a PEG ratio of 0.79 and a beta of 1.12. The firm has a 50 day simple moving average of $99.02 and a 200 day simple moving average of $103.30.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, beating 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%. Research analysts predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date was Friday, February 14th. ConocoPhillips’s payout ratio is 40.05%.

Institutional Trading of ConocoPhillips

Several hedge funds have recently modified their holdings of the stock. Albion Financial Group UT grew its holdings in ConocoPhillips by 876.9% in the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after purchasing an additional 228 shares during the period. Murphy & Mullick Capital Management Corp bought a new position in shares of ConocoPhillips during the 4th quarter worth about $26,000. Centricity Wealth Management LLC acquired a new stake in shares of ConocoPhillips in the 4th quarter valued at about $27,000. 10Elms LLP bought a new stake in ConocoPhillips in the 4th quarter valued at about $28,000. Finally, Truvestments Capital LLC acquired a new position in ConocoPhillips during the 3rd quarter worth approximately $31,000. Institutional investors own 82.36% of the company’s stock.

About ConocoPhillips

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.