ConocoPhillips (NYSE:COP) Given New $165.00 Price Target at Barclays

ConocoPhillips (NYSE:COP) had its target price lifted by Barclays from $150.00 to $165.00 in a research report sent to investors on Friday,Benzinga reports. Barclays currently has an overweight rating on the energy producer’s stock.

Several other equities research analysts have also commented on the stock. Stifel Nicolaus initiated coverage on shares of ConocoPhillips in a research note on Thursday, September 10th. They issued a “hold” rating and a $148.00 price target on the stock. Morgan Stanley boosted their price target on ConocoPhillips from $151.00 to $159.00 and gave the stock an “overweight” rating in a research report on Thursday, October 15th. Mizuho set a $149.00 price target on shares of ConocoPhillips in a research note on Thursday, November 5th. Seaport Research Partners began coverage on shares of ConocoPhillips in a report on Thursday, September 3rd. They issued a “neutral” rating for the company. Finally, Sanford C. Bernstein lowered shares of ConocoPhillips from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $129.00 to $122.00 in a research note on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.31.

ConocoPhillips Stock Performance

Shares of COP traded up $2.21 during midday trading on Friday, hitting $142.27. 5,869,080 shares of the stock traded hands, compared to its average volume of 7,063,315. The business’s 50 day moving average price is $137.29 and its two-hundred day moving average price is $123.10. The firm has a market capitalization of $168.21 billion, a PE ratio of 14.94, a price-to-earnings-growth ratio of 1.28 and a beta of 0.16. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.37 and a current ratio of 1.52. ConocoPhillips has a 1-year low of $85.70 and a 1-year high of $154.28.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, November 5th. The energy producer reported $3.27 earnings per share for the quarter, topping analysts’ consensus estimates of $3.05 by $0.22. The business had revenue of $19.43 billion for the quarter, compared to analysts’ expectations of $18.59 billion. ConocoPhillips had a net margin of 16.55% and a return on equity of 17.60%. The company’s revenue for the quarter was up 29.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.61 EPS. Equities research analysts predict that ConocoPhillips will post 12.13 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Monday, November 16th will be given a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 2.6%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.84. The ex-dividend date is Monday, November 16th. ConocoPhillips’s dividend payout ratio (DPR) is presently 35.29%.

Insider Buying and Selling

In other ConocoPhillips news, SVP Andrew Lundquist sold 9,487 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were 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 approximately $1,296,493.95. This represents a 49.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.09% of the company’s stock.

Institutional Trading of ConocoPhillips

Several institutional investors and hedge funds have recently added to or reduced their stakes in COP. Venture Visionary Partners LLC raised its position in ConocoPhillips by 263.6% in the 3rd quarter. Venture Visionary Partners LLC now owns 118,655 shares of the energy producer’s stock valued at $14,850,000 after purchasing an additional 86,019 shares during the last quarter. Cooper Financial Group grew its holdings in shares of ConocoPhillips by 55.9% during the third quarter. Cooper Financial Group now owns 11,635 shares of the energy producer’s stock worth $1,456,000 after purchasing an additional 4,172 shares during the last quarter. B. Metzler seel. Sohn & Co. AG bought a new stake in shares of ConocoPhillips during the second quarter worth $6,896,000. NewEdge Advisors LLC increased its stake in shares of ConocoPhillips by 22.7% in the second quarter. NewEdge Advisors LLC now owns 243,708 shares of the energy producer’s stock valued at $25,336,000 after buying an additional 45,088 shares in the last quarter. Finally, Qsemble Capital Management LP acquired a new stake in shares of ConocoPhillips in the second quarter valued at $3,645,000. 82.36% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting ConocoPhillips

Here are a few of the latest headlines about COP:

• Positive Sentiment: COP was highlighted among companies that raised dividends, supporting its appeal to income-focused investors. A separate analysis notes an 11% dividend increase and substantial buybacks. Dividend hikes article ConocoPhillips valuation article
• Neutral Sentiment: Traders bought 17,775 call options, about 49% above typical volume. This may indicate bullish positioning, but options activity alone does not establish a lasting trend.
• Neutral Sentiment: A report said the shares moved above their 50-day moving average, a technical development that may be supportive, though the move followed an analyst downgrade. Moving-average report

ConocoPhillips Company Profile

ConocoPhillips is an independent exploration and production company focused on finding, developing and producing oil and natural gas. Its products include crude oil, natural gas, liquefied natural gas and natural gas liquids. The company operates in several regions, including North America, Europe, the Middle East, North Africa and the Asia-Pacific. Its activities span exploration, development and production, with a portfolio that includes both conventional and unconventional resources. ConocoPhillips was formed in 2002 through the merger of Conoco and Phillips Petroleum.