ConocoPhillips (NYSE:COP) Price Target Raised to $139.00

ConocoPhillips (NYSE:COP) had its target price increased by Truist Financial from $138.00 to $139.00 in a research report report published on Monday,Benzinga reports. The brokerage currently has a buy rating on the energy producer’s stock.

Other analysts have also issued reports about the stock. Scotiabank lowered their price target on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. Wells Fargo & Company raised their price objective on ConocoPhillips from $131.00 to $134.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Evercore ISI restated an “outperform” rating and issued a $165.00 price target on shares of ConocoPhillips in a report on Friday, December 6th. Mizuho upgraded shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $132.00 to $134.00 in a report on Monday, December 16th. Finally, Barclays upped their price target on shares of ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $136.65.

ConocoPhillips Stock Performance

NYSE:COP opened at $105.45 on Monday. ConocoPhillips has a 12 month low of $94.23 and a 12 month high of $135.18. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. The firm has a market capitalization of $121.36 billion, a PE ratio of 12.54, a price-to-earnings-growth ratio of 0.81 and a beta of 1.19. The business’s fifty day moving average price is $104.21 and its 200 day moving average price is $107.56.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. The firm had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. ConocoPhillips’s quarterly revenue was down 8.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.16 earnings per share. On average, sell-side analysts anticipate that ConocoPhillips will post 7.7 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 2.96%. The ex-dividend date was Friday, November 8th. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is 37.10%.

Insider Activity at ConocoPhillips

In other ConocoPhillips news, Director Arjun N. Murti bought 2,500 shares of the stock in a transaction on Friday, December 20th. The shares were purchased at an average price of $95.87 per share, with a total value of $239,675.00. Following the acquisition, the director now directly owns 21,500 shares of the company’s stock, valued at $2,061,205. This represents a 13.16 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director R A. Walker bought 10,400 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was purchased at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the purchase, the director now directly owns 38,000 shares of the company’s stock, valued at $3,716,400. This represents a 37.68 % increase in their position. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by insiders.

Institutional Trading of ConocoPhillips

Several institutional investors and hedge funds have recently added to or reduced their stakes in COP. Clarius Group LLC lifted its stake in ConocoPhillips by 38.3% in the fourth quarter. Clarius Group LLC now owns 9,667 shares of the energy producer’s stock valued at $959,000 after buying an additional 2,676 shares during the period. HF Advisory Group LLC boosted its stake in ConocoPhillips by 12.5% in the 4th quarter. HF Advisory Group LLC now owns 16,316 shares of the energy producer’s stock worth $1,618,000 after purchasing an additional 1,812 shares during the period. Aaron Wealth Advisors LLC grew its holdings in shares of ConocoPhillips by 20.8% during the fourth quarter. Aaron Wealth Advisors LLC now owns 8,463 shares of the energy producer’s stock worth $839,000 after buying an additional 1,458 shares in the last quarter. Monarch Capital Management Inc. raised its holdings in shares of ConocoPhillips by 22.0% in the fourth quarter. Monarch Capital Management Inc. now owns 3,036 shares of the energy producer’s stock valued at $301,000 after purchasing an additional 548 shares during the last quarter. Finally, Astoria Portfolio Advisors LLC. increased its stake in ConocoPhillips by 4.9% in the 4th quarter. Astoria Portfolio Advisors LLC. now owns 2,507 shares of the energy producer’s stock valued at $263,000 after buying an additional 117 shares during the last quarter. 82.36% of the stock is owned by 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.