ConocoPhillips (NYSE:COP) Price Target Raised to $151.00

ConocoPhillips (NYSE:COP) had its price objective upped by Wells Fargo & Company from $149.00 to $151.00 in a report issued on Friday morning, Benzinga reports. They currently have an overweight rating on the energy producer’s stock.

A number of other brokerages have also weighed in on COP. Mizuho restated a neutral rating and issued a $139.00 price objective (up from $132.00) on shares of ConocoPhillips in a report on Friday, March 22nd. UBS Group raised their price target on ConocoPhillips from $138.00 to $143.00 and gave the company a buy rating in a research note on Wednesday, February 14th. Scotiabank upped their price objective on ConocoPhillips from $120.00 to $135.00 and gave the stock a sector perform rating in a research report on Thursday, April 11th. Piper Sandler increased their price objective on ConocoPhillips from $145.00 to $157.00 and gave the company an overweight rating in a report on Thursday, April 18th. Finally, Barclays initiated coverage on ConocoPhillips in a research note on Wednesday, April 10th. They set an overweight rating and a $158.00 target price for the company. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $142.76.

ConocoPhillips Stock Down 0.0 %

Shares of NYSE COP opened at $122.23 on Friday. ConocoPhillips has a 12-month low of $95.81 and a 12-month high of $135.18. The stock has a market cap of $142.95 billion, a P/E ratio of 13.84, a PEG ratio of 2.69 and a beta of 1.25. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.35. The business’s fifty day simple moving average is $123.85 and its 200-day simple moving average is $117.61.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, February 8th. The energy producer reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.32. The business had revenue of $15.31 billion during the quarter, compared to analysts’ expectations of $14.47 billion. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. During the same quarter last year, the business posted $2.71 EPS. As a group, equities analysts predict that ConocoPhillips will post 9.1 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 13th will be issued a $0.78 dividend. The ex-dividend date is Friday, May 10th. This represents a $3.12 dividend on an annualized basis and a yield of 2.55%. ConocoPhillips’s dividend payout ratio (DPR) is presently 26.27%.

Insider Transactions at ConocoPhillips

In related news, VP Christopher P. Delk sold 8,505 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $112.06, for a total value of $953,070.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Dominic E. Macklon sold 23,372 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $112.17, for a total value of $2,621,637.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Christopher P. Delk sold 8,505 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $112.06, for a total value of $953,070.30. The disclosure for this sale can be found here. Insiders have sold 700,775 shares of company stock valued at $87,615,169 in the last quarter. 0.34% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ConocoPhillips

Hedge funds and other institutional investors have recently made changes to their positions in the business. Valued Wealth Advisors LLC grew its stake in shares of ConocoPhillips by 45.8% during the 1st quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer’s stock valued at $33,000 after buying an additional 82 shares during the period. Sloy Dahl & Holst LLC increased its position in shares of ConocoPhillips by 3.3% in the third quarter. Sloy Dahl & Holst LLC now owns 2,629 shares of the energy producer’s stock worth $315,000 after acquiring an additional 85 shares in the last quarter. Astoria Portfolio Advisors LLC. raised its stake in shares of ConocoPhillips by 4.0% in the 1st quarter. Astoria Portfolio Advisors LLC. now owns 2,232 shares of the energy producer’s stock valued at $291,000 after acquiring an additional 85 shares during the period. KLCM Advisors Inc. lifted its holdings in shares of ConocoPhillips by 2.8% during the 3rd quarter. KLCM Advisors Inc. now owns 3,305 shares of the energy producer’s stock valued at $396,000 after acquiring an additional 89 shares in the last quarter. Finally, Evergreen Capital Management LLC boosted its position in ConocoPhillips by 0.5% during the 3rd quarter. Evergreen Capital Management LLC now owns 18,944 shares of the energy producer’s stock worth $2,270,000 after purchasing an additional 89 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

About ConocoPhillips

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.