Brokerages Set ConocoPhillips (NYSE:COP) Target Price at $121.30

Shares of ConocoPhillips (NYSE:COP) have been given an average rating of “Moderate Buy” by the nineteen brokerages that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and seventeen have given a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $121.30.

COP has been the subject of a number of research analyst reports. Raymond James Financial reaffirmed an “outperform” rating and issued a $109.00 price target (up from $103.00) on shares of ConocoPhillips in a report on Tuesday, May 20th. Piper Sandler lowered their target price on shares of ConocoPhillips from $114.00 to $107.00 and set an “overweight” rating for the company in a report on Tuesday, May 13th. Royal Bank Of Canada dropped their target price on shares of ConocoPhillips from $120.00 to $115.00 and set an “outperform” rating on the stock in a research report on Friday, May 30th. Citigroup reduced their price target on shares of ConocoPhillips from $140.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, June 11th. Finally, Scotiabank decreased their price objective on shares of ConocoPhillips from $115.00 to $95.00 and set a “sector perform” rating for the company in a research note on Friday, April 11th.

ConocoPhillips Price Performance

Shares of COP opened at $95.54 on Friday. The firm has a market capitalization of $120.78 billion, a price-to-earnings ratio of 12.14, a PEG ratio of 2.57 and a beta of 0.61. The firm’s fifty day simple moving average is $89.23 and its 200-day simple moving average is $95.69. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $118.40. The company has a current ratio of 1.27, a quick ratio of 1.13 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $2.05 by $0.04. The company had revenue of $16.18 billion for the quarter, compared to analysts’ expectations of $15.74 billion. ConocoPhillips had a return on equity of 16.54% and a net margin of 16.02%. During the same period last year, the firm earned $2.05 earnings per share. Equities analysts forecast that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.27%. The ex-dividend date was Monday, May 19th. ConocoPhillips’s dividend payout ratio is presently 39.64%.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, EVP Kirk L. Johnson acquired 5,300 shares of the stock in a transaction on Monday, June 16th. The shares were bought at an average price of $94.24 per share, with a total value of $499,472.00. Following the acquisition, the executive vice president now owns 14,527 shares of the company’s stock, valued at $1,369,024.48. This trade represents a 57.44% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.24% of the stock is currently owned by corporate insiders.

Institutional Trading of ConocoPhillips

A number of institutional investors have recently modified their holdings of the business. Murphy & Mullick Capital Management Corp acquired a new position in shares of ConocoPhillips during the 4th quarter worth $26,000. Centricity Wealth Management LLC purchased a new stake in ConocoPhillips during the fourth quarter worth about $27,000. 10Elms LLP acquired a new position in ConocoPhillips during the fourth quarter worth about $28,000. Financial Network Wealth Advisors LLC increased its holdings in ConocoPhillips by 341.5% in the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock valued at $30,000 after buying an additional 222 shares in the last quarter. Finally, Stone House Investment Management LLC acquired a new stake in shares of ConocoPhillips during the 1st quarter valued at approximately $31,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

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.