ConocoPhillips (NYSE:COP) Price Target Cut to $133.00

ConocoPhillips (NYSE:COP) had its price target lowered by Piper Sandler from $139.00 to $133.00 in a report published on Thursday, Benzinga reports. The firm currently has an overweight rating on the energy producer’s stock.

Several other brokerages have also issued reports on COP. UBS Group raised their target price on ConocoPhillips from $138.00 to $143.00 and gave the stock a buy rating in a research report on Wednesday, February 14th. JPMorgan Chase & Co. lowered their target price on ConocoPhillips from $153.00 to $141.00 and set a neutral rating for the company in a research report on Friday, December 8th. Raymond James lowered their target price on ConocoPhillips from $140.00 to $137.00 and set a strong-buy rating for the company in a research report on Wednesday, January 24th. Johnson Rice lowered ConocoPhillips from an accumulate rating to a hold rating in a research report on Thursday, December 14th. Finally, Susquehanna lowered their target price on ConocoPhillips from $152.00 to $133.00 and set a positive rating for the company in a research report on Friday, January 26th. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $135.06.

ConocoPhillips Price Performance

Shares of COP traded up $0.22 during trading hours on Thursday, reaching $120.26. The stock had a trading volume of 4,813,562 shares, compared to its average volume of 5,916,931. ConocoPhillips has a 12 month low of $93.26 and a 12 month high of $127.35. The stock has a market capitalization of $141.48 billion, a PE ratio of 13.27, a PEG ratio of 0.75 and a beta of 1.23. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.29 and a current ratio of 1.43. The company’s 50-day moving average is $111.97 and its two-hundred day moving average is $115.95.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, February 8th. The energy producer reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.32. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. The company had revenue of $15.31 billion during the quarter, compared to analysts’ expectations of $14.47 billion. During the same period in the prior year, the company earned $2.71 EPS. Research analysts expect that ConocoPhillips will post 8.78 EPS for the current year.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Monday, February 19th were paid a dividend of $0.78 per share. The ex-dividend date was Thursday, February 15th. This represents a $3.12 dividend on an annualized basis and a yield of 2.59%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s payout ratio is 25.61%.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, VP Christopher P. Delk sold 8,505 shares of ConocoPhillips stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $112.06, for a total transaction of $953,070.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other ConocoPhillips news, EVP Dominic E. Macklon sold 23,372 shares of ConocoPhillips stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $112.17, for a total transaction of $2,621,637.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Christopher P. Delk sold 8,505 shares of ConocoPhillips stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $112.06, for a total transaction of $953,070.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,425 shares of company stock worth $4,077,489. Insiders own 0.37% of the company’s stock.

Institutional Investors Weigh In On ConocoPhillips

Hedge funds have recently modified their holdings of the stock. West Tower Group LLC bought a new stake in shares of ConocoPhillips in the 2nd quarter worth approximately $27,000. Orion Capital Management LLC bought a new stake in ConocoPhillips during the 3rd quarter valued at $27,000. West Branch Capital LLC raised its holdings in ConocoPhillips by 87.8% during the 4th quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock valued at $27,000 after acquiring an additional 108 shares during the period. Sachetta LLC bought a new stake in ConocoPhillips during the 4th quarter valued at $27,000. Finally, RVW Wealth LLC bought a new stake in ConocoPhillips during the 3rd quarter valued at $28,000. Institutional investors own 80.36% of the company’s stock.

About ConocoPhillips

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.