ConocoPhillips (NYSE:COP) Price Target Raised to $129.00

ConocoPhillips (NYSE:COP) had its price target increased by Jefferies Financial Group from $120.00 to $129.00 in a research note published on Monday morning,MarketScreener reports. The firm currently has a buy rating on the energy producer’s stock.

Other equities analysts have also recently issued reports about the company. Argus increased their target price on ConocoPhillips from $111.00 to $128.00 and gave the stock a “strong-buy” rating in a report on Friday, February 13th. UBS Group reiterated a “buy” rating and set a $130.00 price objective on shares of ConocoPhillips in a research note on Monday, February 9th. BMO Capital Markets lifted their price objective on ConocoPhillips from $105.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, February 6th. Mizuho upped their target price on shares of ConocoPhillips from $120.00 to $121.00 and gave the stock an “outperform” rating in a report on Friday, December 12th. Finally, Sanford C. Bernstein dropped their target price on shares of ConocoPhillips from $116.00 to $98.00 and set an “outperform” rating for the company in a research report on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, ConocoPhillips presently has a consensus rating of “Moderate Buy” and an average target price of $115.92.

ConocoPhillips Price Performance

Shares of ConocoPhillips stock opened at $110.07 on Monday. The firm has a market cap of $136.01 billion, a P/E ratio of 17.36, a price-to-earnings-growth ratio of 2.81 and a beta of 0.32. The firm’s 50-day simple moving average is $100.91 and its 200-day simple moving average is $95.14. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $113.80. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.14 and a current ratio of 1.30.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, February 5th. The energy producer reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.21). The business had revenue of $13.86 billion during the quarter, compared to analyst estimates of $14.35 billion. ConocoPhillips had a return on equity of 11.90% and a net margin of 12.98%.The business’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same period last year, the company earned $1.98 EPS. As a group, research analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Wednesday, February 18th will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Wednesday, February 18th. ConocoPhillips’s dividend payout ratio is presently 53.00%.

Insider Activity at ConocoPhillips

In related news, CEO Ryan Michael Lance sold 500,708 shares of the firm’s stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $92.50, for a total value of $46,315,490.00. Following the completion of the sale, the chief executive officer owned 325,972 shares of the company’s stock, valued at $30,152,410. This trade represents a 60.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.24% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Howard Hughes Medical Institute bought a new position in ConocoPhillips in the second quarter valued at about $25,000. Cloud Capital Management LLC acquired a new position in ConocoPhillips during the 3rd quarter valued at about $26,000. KERR FINANCIAL PLANNING Corp acquired a new position in ConocoPhillips during the 3rd quarter valued at about $28,000. Board of the Pension Protection Fund bought a new position in shares of ConocoPhillips in the 4th quarter valued at about $28,000. Finally, Strive Asset Management LLC acquired a new stake in shares of ConocoPhillips during the 3rd quarter worth approximately $28,000. 82.36% of the stock is currently owned by institutional investors.

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.