ConocoPhillips (NYSE:COP) Receives $115.00 Consensus Target Price from Analysts

ConocoPhillips (NYSE:COP) has received an average rating of “Moderate Buy” from the twenty-four brokerages that are currently covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $115.6250.

Several research firms have weighed in on COP. Wolfe Research dropped their price target on ConocoPhillips from $137.00 to $130.00 and set an “outperform” rating for the company in a research report on Monday. Jefferies Financial Group decreased their price objective on ConocoPhillips from $129.00 to $120.00 and set a “buy” rating on the stock in a report on Monday, October 13th. Piper Sandler decreased their price objective on ConocoPhillips from $124.00 to $115.00 and set an “overweight” rating on the stock in a report on Monday, October 13th. The Goldman Sachs Group decreased their price objective on ConocoPhillips from $111.00 to $108.00 and set a “buy” rating on the stock in a report on Friday. Finally, Barclays decreased their price objective on ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating on the stock in a report on Tuesday, October 7th.

Institutional Investors Weigh In On ConocoPhillips

Several hedge funds have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC boosted its holdings in ConocoPhillips by 14.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 269,154 shares of the energy producer’s stock valued at $28,267,000 after acquiring an additional 34,284 shares during the last quarter. CWA Asset Management Group LLC boosted its holdings in ConocoPhillips by 59.7% in the first quarter. CWA Asset Management Group LLC now owns 5,587 shares of the energy producer’s stock valued at $587,000 after acquiring an additional 2,089 shares during the last quarter. Silver Oak Securities Incorporated boosted its holdings in ConocoPhillips by 28.3% in the first quarter. Silver Oak Securities Incorporated now owns 2,676 shares of the energy producer’s stock valued at $274,000 after acquiring an additional 591 shares during the last quarter. Blue Trust Inc. boosted its holdings in ConocoPhillips by 6.8% in the first quarter. Blue Trust Inc. now owns 20,478 shares of the energy producer’s stock valued at $2,151,000 after acquiring an additional 1,303 shares during the last quarter. Finally, Meriwether Wealth & Planning LLC boosted its holdings in ConocoPhillips by 14.7% in the first quarter. Meriwether Wealth & Planning LLC now owns 10,406 shares of the energy producer’s stock valued at $1,093,000 after acquiring an additional 1,335 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

ConocoPhillips stock opened at $87.01 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27. The stock has a fifty day moving average of $93.91 and a two-hundred day moving average of $91.92. The company has a market capitalization of $108.67 billion, a price-to-earnings ratio of 11.68, a PEG ratio of 2.29 and a beta of 0.62. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $115.38.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.06. The company had revenue of $14.94 billion during the quarter, compared to the consensus estimate of $14.39 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.ConocoPhillips’s revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.98 earnings per share. On average, analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were issued a dividend of $0.78 per share. The ex-dividend date was Monday, August 18th. This represents a $3.12 annualized dividend and a dividend yield of 3.6%. ConocoPhillips’s dividend payout ratio (DPR) is 41.88%.

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.