ConocoPhillips (NYSE:COP) Price Target Raised to $118.00 at Raymond James Financial

ConocoPhillips (NYSE:COP) had its price objective increased by Raymond James Financial from $113.00 to $118.00 in a research note released on Wednesday,MarketScreener reports. They currently have an outperform rating on the energy producer’s stock.

Several other equities analysts have also commented on the stock. The Goldman Sachs Group raised their target price on shares of ConocoPhillips from $115.00 to $120.00 and gave the company a “buy” rating in a report on Friday, February 6th. BMO Capital Markets lifted their price objective on shares of ConocoPhillips from $105.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, February 6th. Mizuho boosted their price objective on shares of ConocoPhillips from $120.00 to $121.00 and gave the company an “outperform” rating in a research report on Friday, December 12th. Wall Street Zen upgraded ConocoPhillips from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, UBS Group reiterated a “buy” rating and issued a $130.00 price target on shares of ConocoPhillips in a research note on Monday. Seventeen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.00.

ConocoPhillips Price Performance

Shares of NYSE COP opened at $111.24 on Wednesday. The business has a fifty day moving average price of $97.63 and a two-hundred day moving average price of $94.01. The stock has a market capitalization of $137.46 billion, a PE ratio of 17.55 and a beta of 0.32. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.30 and a quick ratio of 1.14. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $111.44.

ConocoPhillips (NYSE:COP) last released its 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 company had revenue of $13.86 billion for 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% compared to the same quarter last year. During the same period last year, the company posted $1.98 earnings per share. As a group, equities analysts predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Wednesday, February 18th will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Wednesday, February 18th. ConocoPhillips’s dividend payout ratio (DPR) is 53.00%.

Insiders Place Their Bets

In other ConocoPhillips news, CEO Ryan Michael Lance sold 500,708 shares of the company’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 transaction, the chief executive officer directly owned 325,972 shares in the company, valued at approximately $30,152,410. This represents a 60.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.24% of the stock is owned by insiders.

Hedge Funds Weigh In On ConocoPhillips

Hedge funds have recently modified their holdings of the business. Tema Etfs LLC purchased a new stake in ConocoPhillips in the third quarter worth $1,804,000. Chilton Capital Management LLC increased its stake in shares of ConocoPhillips by 3.2% in the 3rd quarter. Chilton Capital Management LLC now owns 389,995 shares of the energy producer’s stock worth $36,890,000 after acquiring an additional 11,958 shares in the last quarter. D.A. Davidson & CO. increased its stake in shares of ConocoPhillips by 12.1% in the 3rd quarter. D.A. Davidson & CO. now owns 140,829 shares of the energy producer’s stock worth $13,321,000 after acquiring an additional 15,202 shares in the last quarter. AE Wealth Management LLC lifted its position in ConocoPhillips by 107.5% during the 3rd quarter. AE Wealth Management LLC now owns 103,430 shares of the energy producer’s stock valued at $9,783,000 after acquiring an additional 53,587 shares during the period. Finally, StoneX Group Inc. boosted its stake in ConocoPhillips by 510.5% during the second quarter. StoneX Group Inc. now owns 29,285 shares of the energy producer’s stock worth $2,628,000 after acquiring an additional 24,488 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

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.