ConocoPhillips (NYSE:COP) Price Target Raised to $157.00 at Piper Sandler

ConocoPhillips (NYSE:COP) had its price target raised by Piper Sandler from $145.00 to $157.00 in a research report released on Thursday, Benzinga reports. They currently have an overweight rating on the energy producer’s stock.

A number of other equities analysts have also weighed in on COP. Wells Fargo & Company boosted their price objective on shares of ConocoPhillips from $141.00 to $149.00 and gave the stock an overweight rating in a report on Wednesday, April 10th. Truist Financial cut their target price on shares of ConocoPhillips from $173.00 to $170.00 and set a buy rating for the company in a research report on Friday, April 5th. UBS Group lifted their target price on shares of ConocoPhillips from $138.00 to $143.00 and gave the stock a buy rating in a research report on Wednesday, February 14th. Mizuho reaffirmed a neutral rating and issued a $139.00 target price (up previously from $132.00) on shares of ConocoPhillips in a research report on Friday, March 22nd. Finally, Raymond James cut their target price on shares of ConocoPhillips from $140.00 to $137.00 and set a strong-buy rating for the company in a research report on Wednesday, January 24th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, ConocoPhillips currently has a consensus rating of Moderate Buy and a consensus target price of $142.00.

ConocoPhillips Price Performance

Shares of NYSE COP opened at $127.81 on Thursday. ConocoPhillips has a twelve month low of $95.70 and a twelve month high of $135.18. The firm has a market cap of $150.36 billion, a P/E ratio of 14.11, a PEG ratio of 2.75 and a beta of 1.24. The company has a 50 day moving average of $120.20 and a 200 day moving average of $117.09. The company has a quick ratio of 1.29, a current ratio of 1.43 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, February 8th. The energy producer reported $2.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.32. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. The company had revenue of $15.31 billion during the quarter, compared to analyst estimates of $14.47 billion. During the same period in the previous year, the business earned $2.71 EPS. As a group, research analysts expect that ConocoPhillips will post 9.35 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Monday, February 19th were issued a $0.78 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $3.12 annualized dividend and a yield of 2.44%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio is currently 25.61%.

Insider Buying and Selling

In related news, SVP Heather G. Hrap sold 4,548 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $110.55, for a total value of $502,781.40. Following the completion of the transaction, the senior vice president now owns 2,654 shares of the company’s stock, valued at approximately $293,399.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP Heather G. Hrap sold 4,548 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $110.55, for a total value of $502,781.40. Following the completion of the transaction, the senior vice president now owns 2,654 shares of the company’s stock, valued at approximately $293,399.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Ryan Michael Lance sold 607,000 shares of the business’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $125.91, for a total transaction of $76,427,370.00. Following the completion of the sale, the chief executive officer now owns 6,780 shares in the company, valued at approximately $853,669.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 700,775 shares of company stock valued at $87,615,169. Company insiders own 0.34% of the company’s stock.

Institutional Trading of ConocoPhillips

Hedge funds have recently bought and sold shares of the stock. Orion Capital Management LLC purchased a new stake in ConocoPhillips in the 3rd quarter worth $27,000. West Branch Capital LLC lifted its stake in ConocoPhillips by 87.8% in the 4th quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock worth $27,000 after purchasing an additional 108 shares in the last quarter. Cooksen Wealth LLC purchased a new stake in shares of ConocoPhillips during the 4th quarter valued at about $27,000. RVW Wealth LLC purchased a new stake in shares of ConocoPhillips during the 3rd quarter valued at about $28,000. Finally, Sachetta LLC purchased a new stake in shares of ConocoPhillips during the 4th quarter valued at about $27,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

About ConocoPhillips

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.