ConocoPhillips (NYSE:COP) Receives $138.29 Average Price Target from Brokerages

Shares of ConocoPhillips (NYSE:COP) have earned an average recommendation of “Moderate Buy” from the eighteen ratings firms that are presently covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $138.00.

Several equities analysts have commented on the company. BMO Capital Markets increased their price target on ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Mizuho decreased their price target on shares of ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Scotiabank cut their price objective on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research report on Thursday. Truist Financial dropped their price target on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Finally, UBS Group lowered their price objective on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th.

Insiders Place Their Bets

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of ConocoPhillips stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total value of $6,000,105.00. Following the completion of the transaction, the director now directly owns 455,909 shares of the company’s stock, valued at $49,288,321.99. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.34% of the company’s stock.

Institutional Trading of ConocoPhillips

Several institutional investors and hedge funds have recently modified their holdings of the business. Cardinal Capital Management Inc. bought a new stake in shares of ConocoPhillips during the fourth quarter worth about $13,468,000. Harbor Investment Advisory LLC boosted its holdings in shares of ConocoPhillips by 2.2% during the 1st quarter. Harbor Investment Advisory LLC now owns 9,697 shares of the energy producer’s stock worth $1,234,000 after buying an additional 212 shares in the last quarter. First Trust Direct Indexing L.P. increased its stake in shares of ConocoPhillips by 5.6% in the 1st quarter. First Trust Direct Indexing L.P. now owns 26,083 shares of the energy producer’s stock valued at $3,320,000 after acquiring an additional 1,390 shares in the last quarter. Manning & Napier Advisors LLC bought a new position in ConocoPhillips during the second quarter worth $30,021,000. Finally, EP Wealth Advisors LLC boosted its position in shares of ConocoPhillips by 19.1% during the 1st quarter. EP Wealth Advisors LLC now owns 28,601 shares of the energy producer’s stock worth $3,640,000 after purchasing an additional 4,578 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Stock Up 0.8 %

NYSE COP opened at $111.86 on Tuesday. The company’s 50 day simple moving average is $108.89 and its 200 day simple moving average is $115.76. The company has a market capitalization of $130.82 billion, a P/E ratio of 12.67, a PEG ratio of 0.87 and a beta of 1.21. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.33 and a quick ratio of 1.19. ConocoPhillips has a 12 month low of $101.29 and a 12 month high of $135.18.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, beating analysts’ consensus estimates of $1.96 by $0.02. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The firm had revenue of $14.14 billion for the quarter, compared to the consensus estimate of $14.96 billion. During the same quarter in the previous year, the company posted $1.84 earnings per share. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. Equities research analysts expect that ConocoPhillips will post 8.02 earnings per share for the current fiscal year.

ConocoPhillips Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were given a $0.58 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.07%. ConocoPhillips’s payout ratio is presently 26.27%.

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.