ConocoPhillips (NYSE:COP) Given New $146.00 Price Target at Morgan Stanley

ConocoPhillips (NYSE:COP) had its target price lowered by Morgan Stanley from $153.00 to $146.00 in a research report sent to investors on Friday morning,MarketScreener reports. The firm currently has an overweight rating on the energy producer’s stock.

COP has been the subject of a number of other reports. Raymond James Financial lowered their price target on ConocoPhillips from $145.00 to $142.00 and set an “outperform” rating for the company in a research report on Monday, June 1st. Wall Street Zen raised shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Susquehanna raised their target price on shares of ConocoPhillips from $149.00 to $152.00 in a research report on Friday, May 1st. Jefferies Financial Group increased their price objective on ConocoPhillips from $160.00 to $161.00 and gave the stock a “buy” rating in a research note on Monday, May 18th. Finally, Citigroup increased their price target on ConocoPhillips from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, April 2nd. Eighteen research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $134.04.

ConocoPhillips Price Performance

COP stock opened at $105.63 on Friday. ConocoPhillips has a 52 week low of $85.57 and a 52 week high of $135.87. The firm has a market capitalization of $128.69 billion, a P/E ratio of 17.93, a price-to-earnings-growth ratio of 1.18 and a beta of 0.11. The company has a fifty day simple moving average of $117.29 and a two-hundred day simple moving average of $111.81. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last announced its quarterly 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 net margin of 12.10% and a return on equity of 11.39%. The firm had revenue of $15.76 billion during the quarter, compared to the consensus estimate of $15.62 billion. During the same quarter last year, the firm earned $2.09 EPS. The firm’s revenue for the quarter was down 6.1% compared to the same quarter last year. Analysts anticipate that ConocoPhillips will post 10.03 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 11th were given a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Monday, May 11th. ConocoPhillips’s dividend payout ratio (DPR) is presently 57.05%.

Insider Buying and Selling

In other ConocoPhillips news, CEO Ryan Michael Lance sold 113,221 shares of the business’s stock in a transaction that occurred on Tuesday, March 31st. The shares were sold at an average price of $132.71, for a total transaction of $15,025,558.91. Following the sale, the chief executive officer owned 350,000 shares of the company’s stock, valued at approximately $46,448,500. The trade was a 24.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.09% of the stock is owned by company insiders.

Hedge Funds Weigh In On ConocoPhillips

Several hedge funds have recently made changes to their positions in the company. Ballast Advisors LLC purchased a new stake in ConocoPhillips in the first quarter valued at approximately $36,000. Sapient Capital LLC lifted its stake in ConocoPhillips by 99.9% during the 1st quarter. Sapient Capital LLC now owns 10,203 shares of the energy producer’s stock valued at $1,347,000 after acquiring an additional 5,100 shares during the period. Dakota Community Bank & Trust NA lifted its stake in ConocoPhillips by 44.9% during the 1st quarter. Dakota Community Bank & Trust NA now owns 781 shares of the energy producer’s stock valued at $103,000 after acquiring an additional 242 shares during the period. Robinswood Financial LLC purchased a new stake in shares of ConocoPhillips in the 1st quarter valued at $53,000. Finally, Pine Valley Investments Ltd Liability Co increased its stake in shares of ConocoPhillips by 6.1% in the first quarter. Pine Valley Investments Ltd Liability Co now owns 6,680 shares of the energy producer’s stock worth $882,000 after acquiring an additional 382 shares during the period. 82.36% of the stock is owned by institutional investors and hedge funds.

About ConocoPhillips

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.