ConocoPhillips (NYSE:COP) PT Lowered to $129.00 at Mizuho

ConocoPhillips (NYSE:COP) had its price objective decreased by Mizuho from $132.00 to $129.00 in a research report released on Monday morning, Benzinga reports. Mizuho currently has a neutral rating on the energy producer’s stock.

Several other equities research analysts also recently weighed in on the company. Scotiabank reduced their price target on ConocoPhillips from $135.00 to $120.00 and set a sector perform rating on the stock in a report on Friday, July 12th. Wolfe Research started coverage on ConocoPhillips in a research report on Thursday, July 18th. They set an outperform rating and a $145.00 target price for the company. Barclays upped their price target on shares of ConocoPhillips from $158.00 to $160.00 and gave the stock an overweight rating in a report on Thursday, May 30th. Susquehanna decreased their price objective on shares of ConocoPhillips from $154.00 to $147.00 and set a positive rating for the company in a report on Wednesday, September 4th. Finally, Raymond James restated a strong-buy rating and issued a $159.00 target price (up from $155.00) on shares of ConocoPhillips in a research note on Thursday, May 30th. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, ConocoPhillips has a consensus rating of Moderate Buy and a consensus price target of $142.29.

ConocoPhillips Stock Performance

NYSE:COP opened at $110.51 on Monday. The firm has a market capitalization of $128.33 billion, a PE ratio of 12.52, a PEG ratio of 0.78 and a beta of 1.22. The stock’s fifty day moving average is $109.82 and its 200 day moving average is $116.55. ConocoPhillips has a fifty-two week low of $101.29 and a fifty-two 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.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.02. The firm had revenue of $14.14 billion during the quarter, compared to analyst estimates of $14.96 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The business’s revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the business earned $1.84 EPS. On average, sell-side analysts anticipate that ConocoPhillips will post 8.41 earnings per share for the current year.

ConocoPhillips Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 2.10%. The ex-dividend date was Monday, August 12th. ConocoPhillips’s payout ratio is 26.27%.

Insider Activity

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the firm’s stock in a transaction that occurred 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 sale, the director now directly owns 455,909 shares in the company, valued at $49,288,321.99. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On ConocoPhillips

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cooksen Wealth LLC acquired a new position in shares of ConocoPhillips during the fourth quarter valued at about $27,000. Sachetta LLC purchased a new position in shares of ConocoPhillips in the fourth quarter worth $27,000. Richardson Capital Management LLC acquired a new stake in shares of ConocoPhillips during the first quarter worth $31,000. Cape Investment Advisory Inc. lifted its stake in shares of ConocoPhillips by 96.0% during the fourth quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock worth $29,000 after buying an additional 121 shares during the period. Finally, Ruedi Wealth Management Inc. grew its holdings in shares of ConocoPhillips by 150.0% during the first quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock valued at $32,000 after buying an additional 150 shares during the last quarter. 82.36% of the stock is currently 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.