Investment Analysts’ Recent Ratings Changes for ConocoPhillips (COP)

Several brokerages have updated their recommendations and price targets on shares of ConocoPhillips (NYSE: COP) in the last few weeks:

• 12/19/2024 – ConocoPhillips had its price target lowered by analysts at Piper Sandler from $135.00 to $114.00. They now have an “overweight” rating on the stock.
• 12/16/2024 – ConocoPhillips is now covered by analysts at Morgan Stanley. They set an “overweight” rating and a $128.00 price target on the stock.
• 12/16/2024 – ConocoPhillips was upgraded by analysts at Mizuho from a “neutral” rating to an “outperform” rating. They now have a $134.00 price target on the stock, up previously from $132.00.
• 12/9/2024 – ConocoPhillips had its price target raised by analysts at Wells Fargo & Company from $131.00 to $134.00. They now have an “overweight” rating on the stock.
• 12/6/2024 – ConocoPhillips had its “outperform” rating reaffirmed by analysts at Evercore ISI. They now have a $165.00 price target on the stock.
• 12/5/2024 – ConocoPhillips was upgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating. They now have a $123.00 price target on the stock, up previously from $120.00.
• 11/1/2024 – ConocoPhillips had its price target raised by analysts at Susquehanna from $144.00 to $148.00. They now have a “positive” rating on the stock.
• 11/1/2024 – ConocoPhillips had its price target raised by analysts at Barclays PLC from $135.00 to $137.00. They now have an “overweight” rating on the stock.
• 11/1/2024 – ConocoPhillips had its price target raised by analysts at Mizuho from $129.00 to $132.00. They now have a “neutral” rating on the stock.

ConocoPhillips Stock Up 0.8 %

COP stock opened at $97.11 on Wednesday. The business has a 50 day moving average of $106.00 and a 200 day moving average of $108.93. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The firm has a market cap of $111.77 billion, a PE ratio of 11.55, a price-to-earnings-growth ratio of 0.83 and a beta of 1.18. ConocoPhillips has a twelve month low of $94.23 and a twelve month high of $135.18.

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

ConocoPhillips Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.21%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date was Friday, November 8th. ConocoPhillips’s dividend payout ratio is presently 37.10%.

Insider Transactions at ConocoPhillips

In related news, Director R A. Walker bought 10,400 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were bought at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the completion of the transaction, the director now owns 38,000 shares of the company’s stock, valued at approximately $3,716,400. This trade represents a 37.68 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Arjun N. Murti purchased 2,500 shares of the business’s stock in a transaction on Friday, December 20th. The shares were bought at an average cost of $95.87 per share, with a total value of $239,675.00. Following the acquisition, the director now directly owns 21,500 shares of the company’s stock, valued at $2,061,205. This trade represents a 13.16 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On ConocoPhillips

A number of hedge funds have recently modified their holdings of the company. State Street Corp raised its stake in ConocoPhillips by 19.0% during the 3rd quarter. State Street Corp now owns 66,928,793 shares of the energy producer’s stock valued at $7,046,263,000 after purchasing an additional 10,663,093 shares during the period. Wellington Management Group LLP grew its holdings in ConocoPhillips by 20.2% during the 3rd quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer’s stock valued at $3,280,725,000 after buying an additional 5,240,016 shares in the last quarter. Geode Capital Management LLC increased its holdings in ConocoPhillips by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 24,733,928 shares of the energy producer’s stock valued at $2,601,639,000 after acquiring an additional 924,289 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of ConocoPhillips by 12.5% during the 3rd quarter. Franklin Resources Inc. now owns 13,557,351 shares of the energy producer’s stock worth $1,469,163,000 after acquiring an additional 1,506,599 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its position in ConocoPhillips by 59.7% during the third quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer’s stock valued at $1,311,369,000 after purchasing an additional 4,656,040 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors.

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.