ConocoPhillips (NYSE:COP) Receives Average Recommendation of “Moderate Buy” from Analysts

ConocoPhillips (NYSE:COP) has been given an average rating of “Moderate Buy” by the twenty-six brokerages that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $119.75.

COP has been the topic of a number of research analyst reports. Citigroup upped their price target on shares of ConocoPhillips from $125.00 to $135.00 and gave the company a “buy” rating in a research report on Monday, March 2nd. Raymond James Financial boosted their price objective on ConocoPhillips from $113.00 to $118.00 and gave the company an “outperform” rating in a research note on Wednesday, February 11th. Bank of America reiterated an “underperform” rating and issued a $102.00 target price on shares of ConocoPhillips in a report on Friday, January 16th. Mizuho boosted their price target on ConocoPhillips from $120.00 to $121.00 and gave the company an “outperform” rating in a research note on Friday, December 12th. Finally, Roth Mkm downgraded shares of ConocoPhillips from a “buy” rating to a “neutral” rating and set a $112.00 price objective for the company. in a research report on Tuesday, February 17th.

More ConocoPhillips News

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Barclays raised its price target to $128 and maintained an “overweight” rating, giving explicit analyst support and upside to the stock. This upgrade is a near-term bullish catalyst. Read More.
• Positive Sentiment: Piper Sandler bumped its COP price target to $154 (from $111), a much more aggressive bullish view that can underpin buying interest from institutional investors. Read More.
• Positive Sentiment: Industry commentary: U.S. oil CEOs (including ConocoPhillips’ peers) warned officials the Iran-related energy crisis could worsen — a development that typically supports higher oil prices and benefits oil producers’ earnings and cash flow. Read More.
• Neutral Sentiment: Market chatter flagged executive caution about ongoing volatility in energy markets; this underscores uncertainty (volatility can lift oil-company revenues but also increase stock-price swings). Read More.
• Negative Sentiment: Large insider sales: EVP Nicholas Olds sold 14,522 shares (~53.96% reduction of his holding) at ~$119.36 — a material, disclosed sale that can pressure the stock and prompt investor questions about timing. Read More.
• Negative Sentiment: Senior VP Andrew Lundquist sold 34,500 shares (a ~66% reduction) at ~$119.68 — another sizable executive sale that likely amplified selling sentiment today. Read More.
• Negative Sentiment: Senior VP Heather Hrap sold 2,654 shares (~31.9% reduction) at ~$119.68 — adds to the pattern of senior-level profit-taking disclosed this week. Read More.

Insiders Place Their Bets

In other news, SVP Heather G. Hrap sold 2,654 shares of the company’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $119.68, for a total transaction of $317,630.72. Following the transaction, the senior vice president owned 5,663 shares in the company, valued at approximately $677,747.84. This represents a 31.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Kelly Brunetti Rose sold 8,500 shares of the firm’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $118.04, for a total value of $1,003,340.00. Following the completion of the sale, the senior vice president owned 32,984 shares of the company’s stock, valued at approximately $3,893,431.36. This represents a 20.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 600,884 shares of company stock valued at $58,250,367. 0.24% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Capital International Investors increased its holdings in shares of ConocoPhillips by 18.2% during the third quarter. Capital International Investors now owns 45,645,397 shares of the energy producer’s stock valued at $4,318,239,000 after acquiring an additional 7,037,873 shares in the last quarter. Primecap Management Co. CA lifted its holdings in shares of ConocoPhillips by 66.0% in the 2nd quarter. Primecap Management Co. CA now owns 7,883,455 shares of the energy producer’s stock worth $707,461,000 after purchasing an additional 3,135,315 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of ConocoPhillips by 31.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 10,778,664 shares of the energy producer’s stock worth $966,267,000 after purchasing an additional 2,575,803 shares in the last quarter. AQR Capital Management LLC grew its position in ConocoPhillips by 229.2% in the 4th quarter. AQR Capital Management LLC now owns 3,595,177 shares of the energy producer’s stock valued at $336,544,000 after purchasing an additional 2,503,156 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in ConocoPhillips by 6.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 41,450,162 shares of the energy producer’s stock valued at $3,880,151,000 after purchasing an additional 2,350,645 shares during the period. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Trading Down 0.4%

NYSE:COP opened at $121.37 on Tuesday. The firm’s fifty day moving average is $107.06 and its 200-day moving average is $97.09. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.14 and a current ratio of 1.30. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $122.50. The firm has a market cap of $149.98 billion, a P/E ratio of 19.14, a P/E/G ratio of 2.89 and a beta of 0.27.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, February 5th. The energy producer reported $1.02 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.21). The firm had revenue of $13.86 billion for the quarter, compared to the consensus estimate of $14.35 billion. ConocoPhillips had a return on equity of 11.90% and a net margin of 12.98%.ConocoPhillips’s quarterly revenue was down 3.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.98 EPS. Equities analysts expect that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Wednesday, February 18th were paid a dividend of $0.84 per share. The ex-dividend date of this dividend was Wednesday, February 18th. This represents a $3.36 annualized dividend and a yield of 2.8%. ConocoPhillips’s dividend payout ratio is currently 53.00%.

About ConocoPhillips

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.