ConocoPhillips (NYSE:COP) Price Target Cut to $154.00 by Analysts at Capital One Financial

ConocoPhillips (NYSE:COP) had its target price trimmed by Capital One Financial from $156.00 to $154.00 in a report published on Monday morning,MarketScreener reports. The brokerage currently has an equal weight rating on the energy producer’s stock.

Other equities analysts have also recently issued reports about the company. The Goldman Sachs Group increased their target price on ConocoPhillips from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, February 6th. Piper Sandler increased their price target on ConocoPhillips from $154.00 to $157.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 8th. Wolfe Research increased their price target on ConocoPhillips from $138.00 to $144.00 and gave the stock an “outperform” rating in a research report on Monday, April 6th. Argus increased their price target on ConocoPhillips from $128.00 to $136.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Truist Financial set a $128.00 price target on ConocoPhillips in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, ConocoPhillips currently has a consensus rating of “Moderate Buy” and an average target price of $133.12.

ConocoPhillips Trading Up 1.6%

Shares of COP opened at $124.39 on Monday. ConocoPhillips has a 1 year low of $84.28 and a 1 year high of $135.87. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34. The stock has a 50 day simple moving average of $123.21 and a 200-day simple moving average of $106.64. The stock has a market cap 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 issued its earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.17. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The business had revenue of $15.76 billion during the quarter, compared to analysts’ expectations of $15.62 billion. During the same period in the prior year, the firm posted $2.09 EPS. ConocoPhillips’s quarterly revenue was down 6.1% compared to the same quarter last year. On average, sell-side analysts predict that ConocoPhillips will post 9.66 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

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

Insider Activity

In other news, EVP Nicholas G. Olds sold 14,522 shares of the stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $119.36, for a total value of $1,733,345.92. Following the transaction, the executive vice president owned 12,389 shares of the company’s stock, valued at $1,478,751.04. This represents a 53.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Andrew D. Lundquist sold 34,500 shares of the firm’s 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 transaction, the senior vice president 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. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 734,891 shares of company stock worth $93,345,692. 0.09% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Frazier Financial Advisors LLC boosted its position in shares of ConocoPhillips by 151.0% in the 1st quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock worth $32,000 after purchasing an additional 145 shares during the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in ConocoPhillips during the 4th quarter worth $25,000. Evergreen Advisors LLC acquired a new stake in ConocoPhillips during the 1st quarter worth $36,000. Cloud Capital Management LLC acquired a new stake in ConocoPhillips during the 3rd quarter worth $26,000. Finally, Strive Asset Management LLC acquired a new stake in ConocoPhillips during the 3rd quarter worth $28,000. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips News Roundup

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

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.