ConocoPhillips (NYSE:COP) Receives $138.29 Consensus PT from Analysts

Shares of ConocoPhillips (NYSE:COP) have been assigned an average recommendation of “Moderate Buy” from the eighteen ratings firms that are presently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation, twelve have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $137.12.

COP has been the subject of several analyst reports. StockNews.com cut shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Sanford C. Bernstein decreased their target price on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. Scotiabank decreased their target price on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research note on Thursday. Susquehanna decreased their target price on shares of ConocoPhillips from $154.00 to $147.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th. Finally, Truist Financial decreased their target price on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, September 30th.

Insider Transactions at ConocoPhillips

In related news, Director Timothy A. Leach sold 55,500 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total value of $6,000,105.00. Following the completion of the sale, the director now owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.34% of the company’s stock.

Institutional Trading of ConocoPhillips

Several hedge funds have recently made changes to their positions in the company. Cardinal Capital Management Inc. acquired a new position in ConocoPhillips in the fourth quarter valued at approximately $13,468,000. Harbor Investment Advisory LLC lifted its holdings in ConocoPhillips by 2.2% in the first quarter. Harbor Investment Advisory LLC now owns 9,697 shares of the energy producer’s stock valued at $1,234,000 after acquiring an additional 212 shares during the last quarter. First Trust Direct Indexing L.P. lifted its holdings in ConocoPhillips by 5.6% in the first quarter. First Trust Direct Indexing L.P. now owns 26,083 shares of the energy producer’s stock valued at $3,320,000 after acquiring an additional 1,390 shares during the last quarter. Manning & Napier Advisors LLC acquired a new position in ConocoPhillips in the second quarter valued at approximately $30,021,000. Finally, EP Wealth Advisors LLC lifted its holdings in ConocoPhillips by 19.1% in the first quarter. EP Wealth Advisors LLC now owns 28,601 shares of the energy producer’s stock valued at $3,640,000 after acquiring an additional 4,578 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of NYSE COP opened at $110.49 on Tuesday. The company has a current ratio of 1.33, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 12 month low of $101.29 and a 12 month high of $135.18. The company has a 50 day simple moving average of $109.06 and a two-hundred day simple moving average of $115.55. The stock has a market cap of $128.31 billion, a price-to-earnings ratio of 12.32, a PEG ratio of 0.88 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, beating the consensus estimate of $1.96 by $0.02. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The business had revenue of $14.14 billion during the quarter, compared to analysts’ expectations of $14.96 billion. During the same period in the previous year, the business posted $1.84 EPS. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. As a group, analysts predict that ConocoPhillips will post 8.02 earnings per share for the current year.

ConocoPhillips Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date of this dividend was Monday, August 12th. ConocoPhillips’s payout ratio is 25.86%.

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.