ConocoPhillips (NYSE:COP) Receives $137.47 Average Target Price from Brokerages

Shares of ConocoPhillips (NYSE:COP) have earned a consensus rating of “Moderate Buy” from the eighteen brokerages that are currently covering the company, Marketbeat reports. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $137.47.

COP has been the topic of a number of analyst reports. StockNews.com lowered shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. UBS Group cut their price target on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Scotiabank decreased their price objective on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. Royal Bank of Canada reiterated an “outperform” rating and issued a $140.00 price target on shares of ConocoPhillips in a research note on Friday, September 13th. Finally, Barclays upped their price objective on ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research report on Friday.

Insider Buying and Selling

In other news, Director Timothy A. Leach sold 55,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total value of $6,000,105.00. Following the transaction, the director now owns 455,909 shares in the company, valued at approximately $49,288,321.99. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.34% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Manning & Napier Advisors LLC bought a new stake in ConocoPhillips in the second quarter worth approximately $30,021,000. EP Wealth Advisors LLC lifted its holdings in shares of ConocoPhillips by 19.1% in the 1st quarter. EP Wealth Advisors LLC now owns 28,601 shares of the energy producer’s stock worth $3,640,000 after purchasing an additional 4,578 shares in the last quarter. Alpha DNA Investment Management LLC grew its position in ConocoPhillips by 83.8% in the 2nd quarter. Alpha DNA Investment Management LLC now owns 16,427 shares of the energy producer’s stock valued at $1,879,000 after purchasing an additional 7,490 shares during the period. TCW Group Inc. increased its stake in ConocoPhillips by 37.8% during the 2nd quarter. TCW Group Inc. now owns 30,026 shares of the energy producer’s stock valued at $3,434,000 after purchasing an additional 8,231 shares in the last quarter. Finally, Doheny Asset Management CA acquired a new position in ConocoPhillips during the second quarter worth $815,000. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Stock Performance

Shares of COP opened at $108.86 on Friday. The firm has a 50-day moving average of $107.84 and a 200-day moving average of $112.66. The company has a market cap of $126.41 billion, a PE ratio of 12.94, a price-to-earnings-growth ratio of 0.90 and a beta of 1.21. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.19. ConocoPhillips has a one year low of $101.29 and a one year high of $135.18.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The firm had revenue of $13.60 billion for the quarter, compared to analysts’ expectations of $13.97 billion. During the same period in the prior year, the firm earned $2.16 EPS. The business’s revenue was down 8.5% on a year-over-year basis. As a group, equities analysts forecast that ConocoPhillips will post 7.76 earnings per share for the current year.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 11th will be given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend is Friday, November 8th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s payout ratio is 37.10%.

ConocoPhillips Company Profile

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.