BMO Capital Markets Raises ConocoPhillips (NYSE:COP) Price Target to $125.00

ConocoPhillips (NYSE:COP) had its price objective hoisted by BMO Capital Markets from $123.00 to $125.00 in a report released on Friday, Benzinga reports. The firm currently has an outperform rating on the energy producer’s stock.

Several other equities research analysts have also recently issued reports on the stock. Mizuho reduced their price objective on shares of ConocoPhillips from $132.00 to $129.00 and set a neutral rating on the stock in a research report on Monday, September 16th. Royal Bank of Canada reissued an outperform rating and set a $140.00 price target on shares of ConocoPhillips in a research report on Friday, September 13th. Bank of America restated a buy rating and set a $147.00 target price on shares of ConocoPhillips in a research report on Friday, June 14th. Scotiabank decreased their target price on ConocoPhillips from $135.00 to $120.00 and set a sector perform rating on the stock in a research report on Friday, July 12th. Finally, Truist Financial lowered their price target on shares of ConocoPhillips from $145.00 to $138.00 and set a buy rating on the stock in a research report on Monday, September 30th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $138.29.

ConocoPhillips Stock Up 0.2 %

Shares of NYSE:COP opened at $114.72 on Friday. ConocoPhillips has a 52-week low of $101.29 and a 52-week high of $135.18. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.33. The business’s 50 day simple moving average is $108.77 and its two-hundred day simple moving average is $115.94. The firm has a market cap of $134.17 billion, a P/E ratio of 13.04, a PEG ratio of 0.87 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.02. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The company had revenue of $14.14 billion for the quarter, compared to analysts’ expectations of $14.96 billion. During the same quarter last year, the company earned $1.84 EPS. The firm’s revenue was up 9.7% compared to the same quarter last year. As a group, research analysts forecast that ConocoPhillips will post 8.02 EPS for the current fiscal year.

ConocoPhillips Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were paid a dividend of $0.58 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $2.32 dividend on an annualized basis and a yield of 2.02%. ConocoPhillips’s dividend payout ratio (DPR) is currently 26.27%.

Insider Buying and Selling

In related news, Director Timothy A. Leach sold 55,500 shares of the company’s stock in a transaction 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 completion of the transaction, the director now directly owns 455,909 shares in the company, valued at approximately $49,288,321.99. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.34% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ConocoPhillips

A number of institutional investors have recently modified their holdings of the stock. CFS Investment Advisory Services LLC boosted its holdings in ConocoPhillips by 20.2% in the 4th quarter. CFS Investment Advisory Services LLC now owns 3,330 shares of the energy producer’s stock worth $387,000 after buying an additional 559 shares during the period. Westwood Holdings Group Inc. lifted its holdings in shares of ConocoPhillips by 3.4% in the 4th quarter. Westwood Holdings Group Inc. now owns 641,990 shares of the energy producer’s stock worth $74,516,000 after buying an additional 21,362 shares during the period. Security National Bank purchased a new position in ConocoPhillips during the 4th quarter valued at about $141,000. Cairn Investment Group Inc. lifted its holdings in ConocoPhillips by 1.1% during the fourth quarter. Cairn Investment Group Inc. now owns 44,283 shares of the energy producer’s stock worth $5,140,000 after buying an additional 490 shares during the period. Finally, Evercore Wealth Management LLC lifted its stake in shares of ConocoPhillips by 2.6% during the 4th quarter. Evercore Wealth Management LLC now owns 13,758 shares of the energy producer’s stock worth $1,597,000 after purchasing an additional 343 shares during the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

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.