ConocoPhillips (NYSE:COP) Given New $115.00 Price Target at Truist Financial

ConocoPhillips (NYSE:COP) had its target price reduced by Truist Financial from $128.00 to $115.00 in a report issued on Wednesday morning,Benzinga reports. They currently have a hold rating on the energy producer’s stock.

A number of other brokerages have also recently weighed in on COP. Raymond James Financial dropped their price objective on ConocoPhillips from $145.00 to $142.00 and set an “outperform” rating for the company in a research note on Monday, June 1st. Jefferies Financial Group raised their target price on ConocoPhillips from $160.00 to $161.00 and gave the company a “buy” rating in a report on Monday, May 18th. Scotiabank lifted their target price on ConocoPhillips from $100.00 to $125.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 22nd. Roth Capital upgraded shares of ConocoPhillips from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $124.00 to $130.00 in a research note on Monday, June 22nd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of ConocoPhillips in a research report on Wednesday, June 3rd. Eighteen research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $134.04.

ConocoPhillips Price Performance

ConocoPhillips stock opened at $110.58 on Wednesday. The company’s 50 day simple moving average is $114.85 and its 200-day simple moving average is $112.57. The company has a market capitalization of $134.71 billion, a price-to-earnings ratio of 18.77, a price-to-earnings-growth ratio of 1.26 and a beta of 0.12. ConocoPhillips has a 1 year low of $85.57 and a 1 year high of $135.87. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, topping the consensus estimate of $1.72 by $0.17. The firm had revenue of $15.76 billion for the quarter, compared to analyst estimates of $15.62 billion. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The business’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 posted $2.09 EPS. As a group, equities research analysts expect that ConocoPhillips will post 9.57 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 11th were paid a $0.84 dividend. The ex-dividend date was Monday, May 11th. This represents a $3.36 dividend on an annualized basis and a yield of 3.0%. ConocoPhillips’s payout ratio is currently 57.05%.

Hedge Funds Weigh In On ConocoPhillips

Several large investors have recently bought and sold shares of COP. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in ConocoPhillips in the fourth quarter valued at approximately $25,000. KERR FINANCIAL PLANNING Corp acquired a new position in ConocoPhillips in the third quarter valued at $28,000. Board of the Pension Protection Fund acquired a new position in ConocoPhillips in the fourth quarter valued at $28,000. Strive Asset Management LLC acquired a new position in ConocoPhillips during the third quarter worth approximately $28,000. Finally, Frazier Financial Advisors LLC increased its holdings 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 valued at $32,000 after acquiring an additional 145 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Key ConocoPhillips News

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Crude oil prices surged after escalating Middle East conflict and shipping disruptions, lifting sentiment on COP because higher oil prices can translate into stronger upstream earnings and cash flow. Why ConocoPhillips Stock Is Rising Wednesday
• Positive Sentiment: ConocoPhillips was highlighted as trading below fair value in a valuation-focused article, suggesting some investors still see upside if oil prices remain elevated. Is ConocoPhillips (COP) Still Below Fair Value After Oil Prices Jumped?
• Positive Sentiment: Evercore ISI reportedly maintained a buy rating on COP, reinforcing a constructive analyst view despite recent volatility. Conocophillips (COP) Receives a Buy from Evercore ISI
• Neutral Sentiment: Truist lowered its price target to $115 from $128 and kept a hold rating, which is a modest headwind but still implies limited upside from current levels. Benzinga analyst update
• Neutral Sentiment: Recent index-related buying and broad energy-stock enthusiasm have also helped support the shares, but these factors are secondary to the oil-price move. How Investors May Respond To ConocoPhillips (COP) Shelf Moves Amid Index Shift And Oil Shock

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.