Truist Financial Lowers ConocoPhillips (NYSE:COP) Price Target to $145.00

ConocoPhillips (NYSE:COP) had its price target decreased by Truist Financial from $147.00 to $145.00 in a research report released on Friday, Benzinga reports. Truist Financial currently has a buy rating on the energy producer’s stock.

Several other equities analysts have also recently issued reports on COP. Barclays boosted their price objective on ConocoPhillips from $158.00 to $160.00 and gave the company an overweight rating in a report on Thursday, May 30th. StockNews.com lowered ConocoPhillips from a buy rating to a hold rating in a research note on Wednesday, July 17th. Sanford C. Bernstein dropped their price target on ConocoPhillips from $147.00 to $132.00 and set an outperform rating for the company in a research report on Wednesday, July 17th. Mizuho decreased their price objective on ConocoPhillips from $142.00 to $132.00 and set a neutral rating on the stock in a report on Wednesday, June 5th. Finally, Piper Sandler upped 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. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, ConocoPhillips has an average rating of Moderate Buy and an average target price of $143.53.

ConocoPhillips Stock Up 1.4 %

Shares of NYSE:COP traded up $1.51 on Friday, reaching $106.08. The company had a trading volume of 4,636,934 shares, compared to its average volume of 5,675,605. ConocoPhillips has a 52-week low of $102.27 and a 52-week high of $135.18. The firm’s 50 day simple moving average is $112.50 and its 200-day simple moving average is $117.15. The firm has a market capitalization of $124.06 billion, a PE ratio of 11.94, a PEG ratio of 2.14 and a beta of 1.24. The company has a current ratio of 1.33, a quick ratio of 1.21 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.02. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The business had revenue of $14.14 billion for the quarter, compared to the consensus estimate of $14.96 billion. During the same period last year, the business posted $1.84 EPS. The business’s revenue was up 9.7% compared to the same quarter last year. As a group, analysts expect that ConocoPhillips will post 8.73 earnings per share for the current fiscal year.

ConocoPhillips Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th will be given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend is Monday, August 12th. ConocoPhillips’s payout ratio is 26.27%.

Hedge Funds Weigh In On ConocoPhillips

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Valued Wealth Advisors LLC grew its holdings in shares of ConocoPhillips by 45.8% in the 1st quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer’s stock worth $33,000 after acquiring an additional 82 shares during the period. Astoria Portfolio Advisors LLC. grew its holdings 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 worth $291,000 after acquiring an additional 85 shares during the period. Manchester Capital Management LLC grew its holdings in shares of ConocoPhillips by 22.1% in the 1st quarter. Manchester Capital Management LLC now owns 475 shares of the energy producer’s stock worth $60,000 after acquiring an additional 86 shares during the period. Adirondack Trust Co. lifted its stake in ConocoPhillips by 3.1% in the 4th quarter. Adirondack Trust Co. now owns 2,990 shares of the energy producer’s stock valued at $336,000 after buying an additional 90 shares in the last quarter. Finally, Mayfair Advisory Group LLC raised its position in shares of ConocoPhillips by 3.5% in the 1st quarter. Mayfair Advisory Group LLC now owns 2,627 shares of the energy producer’s stock worth $334,000 after buying an additional 90 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Company Profile

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.