Analysts Set ConocoPhillips (NYSE:COP) Price Target at $140.29

ConocoPhillips (NYSE:COP) has received an average recommendation of “Moderate Buy” from the twenty-eight brokerages that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $140.60.

A number of equities analysts have issued reports on COP shares. Roth Capital upgraded ConocoPhillips from a “neutral” rating to a “buy” rating and increased their price target for the stock from $124.00 to $130.00 in a report on Monday, June 22nd. Weiss Ratings upgraded shares of ConocoPhillips from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, August 6th. UBS Group boosted their target price on shares of ConocoPhillips from $143.00 to $153.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Stifel Nicolaus began coverage on shares of ConocoPhillips in a research note on Thursday. They set a “hold” rating and a $148.00 target price on the stock. Finally, Truist Financial raised their price target on shares of ConocoPhillips from $115.00 to $130.00 and gave the stock a “hold” rating in a report on Monday, August 10th.

Insider Activity at ConocoPhillips

In related news, SVP Andrew Lundquist sold 9,487 shares of the business’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $135.15, for a total value of $1,282,168.05. Following the completion of the sale, the senior vice president directly owned 9,593 shares of the company’s stock, valued at $1,296,493.95. The trade was a 49.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.09% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ConocoPhillips

Several hedge funds and other institutional investors have recently modified their holdings of COP. B. Metzler seel. Sohn & Co. AG bought a new position in shares of ConocoPhillips during the second quarter valued at about $6,896,000. Qsemble Capital Management LP bought a new stake in shares of ConocoPhillips in the 2nd quarter valued at about $3,645,000. Nicholas Investment Partners LP bought a new stake in shares of ConocoPhillips in the 2nd quarter valued at about $6,498,000. Northwestern Mutual Wealth Management Co. boosted its holdings in ConocoPhillips by 255.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,857,206 shares of the energy producer’s stock valued at $173,853,000 after acquiring an additional 1,334,687 shares during the period. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in ConocoPhillips by 3,112.4% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 17,604 shares of the energy producer’s stock valued at $1,830,000 after acquiring an additional 17,056 shares during the period. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Up 0.4%

Shares of NYSE:COP opened at $137.08 on Tuesday. ConocoPhillips has a 1 year low of $85.57 and a 1 year high of $138.89. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.54 and a quick ratio of 1.39. The business’s 50-day moving average is $122.69 and its 200-day moving average is $120.21. The company has a market capitalization of $164.68 billion, a price-to-earnings ratio of 18.13, a P/E/G ratio of 1.44 and a beta of 0.13.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, August 6th. The energy producer reported $3.24 EPS for the quarter, topping the consensus estimate of $2.90 by $0.34. The business had revenue of $19.52 billion during the quarter, compared to analysts’ expectations of $18.79 billion. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%.The firm’s revenue was up 32.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.42 earnings per share. Equities research analysts predict that ConocoPhillips will post 10.54 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th were given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Monday, August 17th. ConocoPhillips’s dividend payout ratio is 44.44%.

ConocoPhillips Company Profile

ConocoPhillips (NYSE:COP) is an independent exploration and production company engaged primarily in finding, developing and producing crude oil, natural gas and natural gas liquids. The company sells its production to refiners, utilities, industrial customers and other energy market participants.

Its portfolio includes conventional and unconventional assets, with operations and development activities in the United States, including Alaska and the Lower 48, as well as Canada, Australia, Norway, Qatar and other international locations.