Analysts Set ConocoPhillips (NYSE:COP) Target Price at $55.05


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ConocoPhillips (NYSE:COP) has earned an average rating of “Buy” from the twenty-six research firms that are currently covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and eighteen have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $55.05.

A number of brokerages have recently issued reports on COP. The Goldman Sachs Group began coverage on shares of ConocoPhillips in a report on Wednesday, February 3rd. They set a “buy” rating for the company. Piper Sandler raised their price target on shares of ConocoPhillips from $50.00 to $69.00 and gave the stock an “overweight” rating in a report on Thursday, April 1st. Mizuho upgraded shares of ConocoPhillips from a “neutral” rating to a “buy” rating and raised their price target for the stock from $36.00 to $56.00 in a report on Tuesday, January 12th. Scotiabank upgraded shares of ConocoPhillips from a “sector perform” rating to a “sector outperform” rating and raised their price target for the stock from $45.00 to $56.00 in a report on Thursday, January 14th. Finally, Truist lifted their target price on shares of ConocoPhillips from $40.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, December 31st.

COP opened at $52.38 on Monday. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.38 and a quick ratio of 2.16. The company’s 50 day simple moving average is $54.01 and its two-hundred day simple moving average is $42.67. ConocoPhillips has a 1-year low of $27.53 and a 1-year high of $61.14. The firm has a market capitalization of $70.83 billion, a price-to-earnings ratio of -46.35, a price-to-earnings-growth ratio of 10.03 and a beta of 1.85.

ConocoPhillips (NYSE:COP) last released its earnings results on Monday, February 1st. The energy producer reported ($0.19) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.25) by $0.06. ConocoPhillips had a negative net margin of 5.66% and a negative return on equity of 0.02%. The business had revenue of $6.05 billion for the quarter, compared to analyst estimates of $4.69 billion. During the same period last year, the company posted $0.76 EPS. On average, equities analysts anticipate that ConocoPhillips will post -0.9 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, March 1st. Shareholders of record on Friday, February 12th were paid a $0.43 dividend. The ex-dividend date of this dividend was Thursday, February 11th. This represents a $1.72 annualized dividend and a dividend yield of 3.28%. ConocoPhillips’s dividend payout ratio (DPR) is 47.91%.

Several large investors have recently bought and sold shares of the business. Bank of New York Mellon Corp grew its stake in shares of ConocoPhillips by 23.2% in the fourth quarter. Bank of New York Mellon Corp now owns 16,253,068 shares of the energy producer’s stock worth $649,960,000 after acquiring an additional 3,057,307 shares in the last quarter. Boston Partners grew its stake in shares of ConocoPhillips by 17.8% in the fourth quarter. Boston Partners now owns 16,005,135 shares of the energy producer’s stock worth $640,046,000 after acquiring an additional 2,417,177 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of ConocoPhillips by 12.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,872,369 shares of the energy producer’s stock worth $554,756,000 after acquiring an additional 1,569,580 shares in the last quarter. Lazard Asset Management LLC lifted its position in shares of ConocoPhillips by 29.2% during the 4th quarter. Lazard Asset Management LLC now owns 12,819,227 shares of the energy producer’s stock worth $512,639,000 after purchasing an additional 2,899,393 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of ConocoPhillips by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,490,872 shares of the energy producer’s stock worth $219,580,000 after purchasing an additional 80,824 shares during the last quarter. Institutional investors and hedge funds own 72.87% 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 worldwide. The company primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations.

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Analyst Recommendations for ConocoPhillips (NYSE:COP)

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