ConocoPhillips (NYSE:COP) Given New $161.00 Price Target at Jefferies Financial Group

ConocoPhillips (NYSE:COP) had its target price upped by Jefferies Financial Group from $160.00 to $161.00 in a research report sent to investors on Monday morning,MarketScreener reports. The firm currently has a buy rating on the energy producer’s stock.

Several other brokerages also recently issued reports on COP. Sanford C. Bernstein upped their price target on shares of ConocoPhillips from $98.00 to $121.00 and gave the stock an “outperform” rating in a report on Monday, April 13th. Wolfe Research upped their price target on shares of ConocoPhillips from $138.00 to $144.00 and gave the stock an “outperform” rating in a report on Monday, April 6th. Truist Financial set a $128.00 price target on shares of ConocoPhillips in a report on Friday, May 1st. Royal Bank Of Canada upped their price target on shares of ConocoPhillips from $118.00 to $152.00 and gave the stock an “outperform” rating in a report on Wednesday, April 8th. Finally, Roth Mkm downgraded shares of ConocoPhillips from a “buy” rating to a “neutral” rating and set a $112.00 price target for the company. in a report on Tuesday, February 17th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, ConocoPhillips has a consensus rating of “Moderate Buy” and a consensus target price of $133.12.

ConocoPhillips Stock Up 1.6%

NYSE COP opened at $124.39 on Monday. The business has a fifty day moving average price of $123.21 and a two-hundred day moving average price of $106.64. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.29 and a quick ratio of 1.14. ConocoPhillips has a fifty-two week low of $84.28 and a fifty-two week high of $135.87. The stock has a market capitalization of $151.54 billion, a PE ratio of 21.12, a PEG ratio of 1.41 and a beta of 0.14.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.17. The company had revenue of $15.76 billion during the quarter, compared to the consensus estimate of $15.62 billion. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The company’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.09 earnings per share. Equities analysts expect that ConocoPhillips will post 9.66 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, May 11th will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Monday, May 11th. ConocoPhillips’s dividend payout ratio is presently 57.05%.

Insiders Place Their Bets

In related news, SVP Andrew D. Lundquist sold 34,500 shares of the stock in a transaction on Friday, March 13th. The stock was sold at an average price of $119.68, for a total value of $4,128,960.00. Following the completion of the sale, the senior vice president directly owned 17,469 shares in the company, valued at $2,090,689.92. This represents a 66.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ryan Michael Lance sold 113,221 shares of the stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of $132.71, for a total value of $15,025,558.91. Following the completion of the sale, the chief executive officer owned 350,000 shares of the company’s stock, valued at $46,448,500. The trade was a 24.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 734,891 shares of company stock valued at $93,345,692 over the last ninety days. 0.09% of the stock is currently owned by corporate insiders.

Institutional Trading of ConocoPhillips

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in ConocoPhillips by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 120,251,183 shares of the energy producer’s stock valued at $11,256,713,000 after purchasing an additional 408,304 shares during the period. Capital International Investors increased its holdings in ConocoPhillips by 5.9% in the fourth quarter. Capital International Investors now owns 48,360,060 shares of the energy producer’s stock valued at $4,527,230,000 after purchasing an additional 2,714,663 shares during the period. Charles Schwab Investment Management Inc. boosted its position in ConocoPhillips by 6.0% during the fourth 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 acquiring an additional 2,350,645 shares during the last quarter. Franklin Resources Inc. grew its holdings in ConocoPhillips by 4.5% during the 4th quarter. Franklin Resources Inc. now owns 15,038,675 shares of the energy producer’s stock worth $1,407,770,000 after acquiring an additional 648,432 shares during the period. Finally, Fisher Asset Management LLC grew its holdings in ConocoPhillips by 1.3% during the 4th quarter. Fisher Asset Management LLC now owns 14,847,367 shares of the energy producer’s stock worth $1,389,862,000 after acquiring an additional 193,401 shares during the period. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Key ConocoPhillips News

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: ConocoPhillips signed a 30-year gas sales precedent agreement with Glenfarne Alaska LNG to supply North Slope natural gas for Phase One of the Alaska LNG project, strengthening the company’s long-term volume outlook and signaling progress toward a final investment decision. Reuters: Alaska LNG secures supply deal with ConocoPhillips for pipeline project
• Positive Sentiment: The Alaska LNG announcement was echoed by multiple reports, reinforcing investor optimism that ConocoPhillips is helping advance a major infrastructure project that could support future gas monetization and regional energy demand. Yahoo Finance: Glenfarne, ConocoPhillips Sign North Slope Gas Sales Precedent Agreement for Alaska LNG
• Positive Sentiment: Jefferies raised its price target on ConocoPhillips to $161 from $160 and kept a Buy rating, suggesting continued upside expectations from current levels. MarketScreener: Jefferies adjusts price target on ConocoPhillips
• Neutral Sentiment: Capital One Financial trimmed its price target slightly to $154 from $156 while maintaining an Equal Weight rating, a modestly less bullish read but not a major negative for the stock. MarketScreener: Capital One adjusts price target on ConocoPhillips
• Neutral Sentiment: Broader commentary on oil prices and options trading pointed to a supportive crude backdrop for COP, but this was more of a market/strategy note than a company-specific fundamental update. Barchart: ConocoPhillips Put Options Look Attractive to Short Sellers as Oil Rises

ConocoPhillips Company Profile

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.