ConocoPhillips (NYSE:COP) Receives $134.04 Consensus Target Price from Analysts

ConocoPhillips (NYSE:COP) has received an average rating of “Moderate Buy” from the twenty-eight brokerages that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eighteen have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $134.16.

Several brokerages have commented on COP. Piper Sandler upped their price objective on shares of ConocoPhillips from $154.00 to $157.00 and gave the company an “overweight” rating in a report on Wednesday, April 8th. BMO Capital Markets cut their price objective on shares of ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 13th. Sanford C. Bernstein raised their target price on shares of ConocoPhillips from $98.00 to $121.00 and gave the stock an “outperform” rating in a report on Monday, April 13th. Jefferies Financial Group boosted their target price on shares of ConocoPhillips from $160.00 to $161.00 and gave the company a “buy” rating in a research report on Monday, May 18th. Finally, Wolfe Research upped their price target on shares of ConocoPhillips from $138.00 to $144.00 and gave the company an “outperform” rating in a report on Monday, April 6th.

Institutional Trading of ConocoPhillips

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in ConocoPhillips in the fourth quarter valued at approximately $25,000. Strive Asset Management LLC acquired a new stake in shares of ConocoPhillips during the 3rd quarter worth approximately $28,000. Frazier Financial Advisors LLC grew its stake in shares of ConocoPhillips by 151.0% during the 1st quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock worth $32,000 after purchasing an additional 145 shares during the period. Allied Private Wealth LLC purchased a new position in shares of ConocoPhillips during the 2nd quarter valued at approximately $32,000. Finally, BNP Paribas purchased a new position in shares of ConocoPhillips during the 2nd quarter valued at approximately $33,000. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Stock Up 0.1%

Shares of COP stock opened at $120.30 on Monday. ConocoPhillips has a fifty-two week low of $85.57 and a fifty-two week high of $135.87. The firm has a market capitalization of $146.56 billion, a PE ratio of 20.42, a P/E/G ratio of 1.45 and a beta of 0.12. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29. The stock’s 50-day simple moving average is $113.50 and its 200-day simple moving average is $114.23.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.17. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The firm had revenue of $15.76 billion for the quarter, compared to analyst estimates of $15.62 billion. During the same quarter in the prior year, the firm earned $2.09 earnings per share. ConocoPhillips’s revenue for the quarter was down 6.1% on a year-over-year basis. Equities analysts expect that ConocoPhillips will post 9.2 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 11th were issued a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Monday, May 11th. ConocoPhillips’s payout ratio is 57.05%.

ConocoPhillips Company Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.