Brokerages Set ConocoPhillips (NYSE:COP) Target Price at $110.83

Shares of ConocoPhillips (NYSE:COP) have been assigned an average rating of “Moderate Buy” from the twenty-four analysts that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have given a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $110.9565.

A number of equities research analysts recently issued reports on the company. Wall Street Zen raised ConocoPhillips from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Wells Fargo & Company began coverage on ConocoPhillips in a report on Friday, October 17th. They set an “equal weight” rating and a $100.00 target price on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of ConocoPhillips in a research note on Monday, December 29th. The Goldman Sachs Group upped their price objective on shares of ConocoPhillips from $108.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Finally, Royal Bank Of Canada raised their target price on shares of ConocoPhillips from $113.00 to $118.00 and gave the company an “outperform” rating in a report on Monday, October 13th.

Trending Headlines about ConocoPhillips

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Federal judge cleared ConocoPhillips to proceed with its winter drilling program in Alaska, reducing near-term legal uncertainty that could have delayed production and spending. Federal judge rules that ConocoPhillips can proceed with winter drilling program
• Positive Sentiment: Regulatory clearance was echoed in coverage that a judge “green-lit” COP’s Alaska drilling program, further lowering execution risk for Arctic activity. Judge green-lights ConocoPhillips Alaska oil drilling program
• Positive Sentiment: Geopolitical risk has pushed oil prices higher (Iran/strait-of-Hormuz concerns), which benefits integrated E&P names like ConocoPhillips through stronger commodity realizations and cash flow. Oil Rallies On Iran War Fears – 5 Integrated Energy Giants With Big Dividends
• Neutral Sentiment: ConocoPhillips says its plans for four new Arctic wells are unaffected by the toppled rig, which suggests management expects limited near-term disruption to the development schedule. ConocoPhillips’ plans for 4 new Arctic wells unaffected by toppled rig, company says
• Neutral Sentiment: Coverage notes the company called the Doyon rig destruction “a sad day” but downplayed major impacts; investors should watch for official damage/insurance updates. ConocoPhillips execs call Doyon oil rig destruction a ‘sad day,’ but no major impacts expected
• Negative Sentiment: An Arctic rig toppled and ignited a fire — an operational and reputational risk that could lead to added costs, regulatory scrutiny or delays if follow-up inspections or litigation arise. Monitor incident reports and any updates from regulators. As an Oil Rig Topples in the Alaskan Arctic and Ignites a Fire, Exploration There Continues
• Negative Sentiment: Analysts expect a year-over-year earnings decline for the upcoming quarter, which could cap near-term upside if results miss expectations or guidance is cautious. Analysts Estimate ConocoPhillips (COP) to Report a Decline in Earnings: What to Look Out for

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, Director William H. Mcraven bought 5,768 shares of ConocoPhillips stock in a transaction on Monday, November 10th. The shares were purchased at an average price of $86.68 per share, with a total value of $499,970.24. Following the acquisition, the director owned 5,768 shares in the company, valued at $499,970.24. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ryan Michael Lance sold 500,708 shares of the business’s 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 transaction, the chief executive officer directly owned 325,972 shares of the company’s stock, valued at $30,152,410. This trade represents a 60.57% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.24% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ConocoPhillips

A number of hedge funds have recently made changes to their positions in COP. Heartland Bank & Trust Co increased its position in shares of ConocoPhillips by 97.2% during the second quarter. Heartland Bank & Trust Co now owns 6,861 shares of the energy producer’s stock worth $616,000 after acquiring an additional 3,381 shares in the last quarter. Tema Etfs LLC bought a new stake in ConocoPhillips during the 3rd quarter worth approximately $1,804,000. D.A. Davidson & CO. raised its stake in shares of ConocoPhillips by 12.1% in the third quarter. D.A. Davidson & CO. now owns 140,829 shares of the energy producer’s stock worth $13,321,000 after purchasing an additional 15,202 shares during the last quarter. Chilton Capital Management LLC lifted its holdings in shares of ConocoPhillips by 3.2% in the third quarter. Chilton Capital Management LLC now owns 389,995 shares of the energy producer’s stock valued at $36,890,000 after purchasing an additional 11,958 shares in the last quarter. Finally, StoneX Group Inc. boosted its position in shares of ConocoPhillips by 510.5% during the second quarter. StoneX Group Inc. now owns 29,285 shares of the energy producer’s stock valued at $2,628,000 after buying an additional 24,488 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Price Performance

NYSE:COP opened at $104.25 on Monday. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $106.20. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.18 and a current ratio of 1.32. The firm’s 50-day simple moving average is $94.70 and its 200 day simple moving average is $93.25. The firm has a market cap of $128.82 billion, a price-to-earnings ratio of 14.74, a P/E/G ratio of 3.26 and a beta of 0.32.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, November 6th. The energy producer reported $1.61 earnings per share (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 firm had revenue of $15.03 billion for the quarter, compared to analyst estimates of $14.51 billion. During the same quarter in the prior year, the business posted $1.78 EPS. The business’s revenue was up 14.1% compared to the same quarter last year. As a group, sell-side analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Monday, November 17th were paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 3.2%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend was Monday, November 17th. ConocoPhillips’s payout ratio is 47.52%.

ConocoPhillips Company Profile

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.