ConocoPhillips (NYSE:COP) Stock Price Expected to Rise, Raymond James Analyst Says

ConocoPhillips (NYSE:COP) had its target price boosted by Raymond James from $148.00 to $157.00 in a research report report published on Thursday morning,Benzinga reports. Raymond James currently has a strong-buy rating on the energy producer’s stock.

COP has been the subject of a number of other research reports. Truist Financial increased their price objective on shares of ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a report on Monday, January 13th. Barclays raised their target price on ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Evercore ISI reissued an “outperform” rating and set a $165.00 price target on shares of ConocoPhillips in a research report on Friday, December 6th. TD Cowen assumed coverage on shares of ConocoPhillips in a research report on Friday, January 17th. They set a “buy” rating and a $125.00 price objective for the company. Finally, Susquehanna boosted their target price on shares of ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, ConocoPhillips presently has an average rating of “Buy” and a consensus target price of $135.89.

ConocoPhillips Stock Performance

NYSE COP opened at $104.07 on Thursday. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. ConocoPhillips has a twelve month low of $94.23 and a twelve month high of $135.18. The stock has a 50-day moving average of $103.36 and a 200 day moving average of $107.22. The stock has a market capitalization of $119.77 billion, a price-to-earnings ratio of 12.37, a PEG ratio of 0.86 and a beta of 1.19.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The firm had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. During the same quarter in the prior year, the firm earned $2.16 EPS. The company’s revenue for the quarter was down 8.5% on a year-over-year basis. Sell-side analysts anticipate that ConocoPhillips will post 7.65 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were issued a $0.78 dividend. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend was Friday, November 8th. ConocoPhillips’s dividend payout ratio is presently 37.10%.

Insider Activity

In related news, Director R A. Walker acquired 10,400 shares of ConocoPhillips stock in a transaction that occurred on Tuesday, December 17th. The stock was purchased at an average price of $97.80 per share, for a total transaction 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 approximately $3,716,400. This trade represents a 37.68 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arjun N. Murti purchased 2,500 shares of the company’s stock in a transaction dated Friday, December 20th. The stock was purchased at an average price of $95.87 per share, with a total value of $239,675.00. Following the transaction, the director now owns 21,500 shares of the company’s stock, valued at approximately $2,061,205. This represents a 13.16 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.34% of the company’s stock.

Institutional Trading of ConocoPhillips

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Heck Capital Advisors LLC purchased a new position in ConocoPhillips in the fourth quarter valued at about $1,767,000. Austin Private Wealth LLC increased its holdings in ConocoPhillips by 167.2% in the fourth quarter. Austin Private Wealth LLC now owns 8,090 shares of the energy producer’s stock valued at $802,000 after buying an additional 20,131 shares during the last quarter. Caprock Group LLC raised its stake in ConocoPhillips by 19.4% during the fourth quarter. Caprock Group LLC now owns 32,671 shares of the energy producer’s stock valued at $3,240,000 after buying an additional 5,299 shares in the last quarter. Saxony Capital Management LLC lifted its holdings in ConocoPhillips by 11.7% during the 4th quarter. Saxony Capital Management LLC now owns 4,788 shares of the energy producer’s stock worth $475,000 after buying an additional 501 shares during the last quarter. Finally, New Wave Wealth Advisors LLC bought a new stake in ConocoPhillips during the fourth quarter valued at $87,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

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.