ConocoPhillips (NYSE:COP) Price Target Raised to $123.00

ConocoPhillips (NYSE:COP) had its target price hoisted by Wolfe Research from $122.00 to $123.00 in a research note released on Monday morning,MarketScreener reports. The firm currently has an outperform rating on the energy producer’s stock.

COP has been the subject of a number of other reports. Wells Fargo & Company started coverage on ConocoPhillips in a research report on Friday, October 17th. They issued an “equal weight” rating and a $100.00 target price for the company. Morgan Stanley reduced their price objective on ConocoPhillips from $117.00 to $108.00 and set an “overweight” rating for the company in a research note on Friday, January 23rd. Evercore ISI decreased their price objective on ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating for the company in a report on Monday, October 6th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $98.00 target price on shares of ConocoPhillips in a report on Tuesday, January 20th. Finally, Roth Mkm lifted their price target on shares of ConocoPhillips from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Friday, January 23rd. Sixteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $110.96.

ConocoPhillips Stock Performance

NYSE:COP opened at $101.47 on Monday. The company has a quick ratio of 1.18, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $106.20. The company has a fifty day moving average of $94.06 and a 200-day moving average of $93.11. The firm has a market capitalization of $125.39 billion, a P/E ratio of 14.35, a P/E/G ratio of 3.16 and a beta of 0.32.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, November 6th. The energy producer reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.20. ConocoPhillips had a net margin of 14.25% and a return on equity of 13.64%. The business had revenue of $15.03 billion during the quarter, compared to analysts’ expectations of $14.51 billion. During the same period last year, the company posted $1.78 earnings per share. The business’s quarterly revenue was up 14.1% on a year-over-year basis. As a group, sell-side analysts anticipate that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Monday, November 17th were issued a $0.84 dividend. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.78. This represents a $3.36 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Monday, November 17th. ConocoPhillips’s dividend payout ratio is currently 47.52%.

Insider Activity

In other ConocoPhillips news, Director William H. Mcraven purchased 5,768 shares of the firm’s stock in a transaction that occurred on Monday, November 10th. The stock was bought at an average cost of $86.68 per share, with a total value of $499,970.24. Following the completion of the transaction, the director owned 5,768 shares of the company’s stock, valued at $499,970.24. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Ryan Michael Lance sold 500,708 shares of ConocoPhillips stock in a transaction on Friday, December 19th. The stock was sold at an average price of $92.50, for a total value of $46,315,490.00. Following the sale, the chief executive officer owned 325,972 shares in the company, valued at $30,152,410. This trade represents a 60.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.24% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ConocoPhillips

Several large investors have recently made changes to their positions in the business. Howard Hughes Medical Institute purchased a new stake in ConocoPhillips during the second quarter worth about $25,000. Cloud Capital Management LLC bought a new position in shares of ConocoPhillips during the 3rd quarter valued at approximately $26,000. Strive Asset Management LLC purchased a new stake in shares of ConocoPhillips during the 3rd quarter worth approximately $28,000. Board of the Pension Protection Fund bought a new stake in shares of ConocoPhillips in the 4th quarter worth approximately $28,000. Finally, Bogart Wealth LLC raised its holdings in shares of ConocoPhillips by 136.8% in the 2nd quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock worth $28,000 after purchasing an additional 182 shares during the period. 82.36% of the stock is owned by hedge funds and other institutional investors.

About ConocoPhillips

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.