ConocoPhillips (NYSE:COP) Price Target Raised to $175.00

by · The Cerbat Gem

ConocoPhillips (NYSE:COP – Free Report) had its price objective raised by Susquehanna from $161.00 to $175.00 in a report published on Tuesday morning, MarketBeat reports. Susquehanna currently has a positive rating on the energy producer’s stock.

Several other research firms have also recently weighed in on COP. Raymond James Financial reissued an “underperform” rating and issued a $168.00 price target on shares of ConocoPhillips in a report on Monday, August 24th. Mizuho decreased their price objective on ConocoPhillips from $150.00 to $146.00 and set an “outperform” rating on the stock in a report on Tuesday, July 7th. Wall Street Zen upgraded ConocoPhillips from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Stifel Nicolaus started coverage on ConocoPhillips in a research report on Thursday, September 10th. They set a “hold” rating and a $148.00 price objective on the stock. Finally, Roth Capital raised ConocoPhillips from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $124.00 to $130.00 in a report on Monday, June 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $145.00.

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ConocoPhillips Price Performance

NYSE:COP opened at $145.80 on Tuesday. The company has a market cap of $175.15 billion, a P/E ratio of 18.77, a P/E/G ratio of 1.45 and a beta of 0.24. The firm’s fifty day moving average price is $133.76 and its two-hundred day moving average price is $122.80. ConocoPhillips has a one year low of $85.57 and a one year high of $147.55. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.54 and a quick ratio of 1.39.

ConocoPhillips (NYSE:COP – Get Free Report) last posted its earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.90 by $0.34. The company had revenue of $19.52 billion during the quarter, compared to analysts’ expectations of $18.79 billion. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. ConocoPhillips’s quarterly revenue was up 32.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.42 EPS. Equities analysts expect that ConocoPhillips will post 11.19 earnings per share for the current year.

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th were issued a dividend of $0.84 per share. The ex-dividend date of this dividend was Monday, August 17th. This represents a $3.36 annualized dividend and a dividend yield of 2.3%. ConocoPhillips’s dividend payout ratio (DPR) is currently 44.44%.

Insider Activity at ConocoPhillips

In other news, SVP Andrew Lundquist sold 9,487 shares of ConocoPhillips stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $135.15, for a total value of $1,282,168.05. Following the completion of the sale, the senior vice president directly owned 9,593 shares in the company, valued at approximately $1,296,493.95. The trade was a 49.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.09% of the company’s stock.

Institutional Investors Weigh In On ConocoPhillips

Large investors have recently added to or reduced their stakes in the stock. Warwick Investment Management Inc. raised its holdings in ConocoPhillips by 2.1% in the 3rd quarter. Warwick Investment Management Inc. now owns 4,066 shares of the energy producer’s stock valued at $509,000 after acquiring an additional 82 shares in the last quarter. Patten Group Inc. lifted its position in shares of ConocoPhillips by 1.5% during the 1st quarter. Patten Group Inc. now owns 5,447 shares of the energy producer’s stock valued at $719,000 after acquiring an additional 83 shares during the period. IFC Advisors LLC grew its holdings in shares of ConocoPhillips by 0.4% during the 1st quarter. IFC Advisors LLC now owns 20,182 shares of the energy producer’s stock worth $2,664,000 after purchasing an additional 84 shares in the last quarter. Kennebec Savings Bank grew its holdings in shares of ConocoPhillips by 1.3% during the 3rd quarter. Kennebec Savings Bank now owns 6,828 shares of the energy producer’s stock worth $855,000 after purchasing an additional 85 shares in the last quarter. Finally, Cornerstone Planning Group LLC grew its holdings in shares of ConocoPhillips by 9.6% during the 1st quarter. Cornerstone Planning Group LLC now owns 1,006 shares of the energy producer’s stock worth $124,000 after purchasing an additional 88 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

About ConocoPhillips

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ConocoPhillips (NYSE:COP) is an independent exploration and production company engaged in finding, developing and producing oil, natural gas and natural gas liquids. Unlike integrated energy companies, it primarily focuses on upstream activities rather than operating large refining or retail fuel businesses.

The company’s portfolio includes conventional and unconventional oil and natural gas assets, liquefied natural gas-related interests, oil sands operations and other energy resources.

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