ConocoPhillips (NYSE:COP) Price Target Cut to $150.00 by Analysts at Wells Fargo & Company

ConocoPhillips (NYSE:COP) had its price objective trimmed by Wells Fargo & Company from $151.00 to $150.00 in a research report report published on Friday morning, Benzinga reports. The firm currently has an overweight rating on the energy producer’s stock.

Other analysts also recently issued research reports about the stock. Mizuho dropped their price target on shares of ConocoPhillips from $142.00 to $132.00 and set a neutral rating for the company in a research note on Wednesday, June 5th. Raymond James reissued a strong-buy rating and issued a $159.00 target price (up previously from $155.00) on shares of ConocoPhillips in a research report on Thursday, May 30th. Royal Bank of Canada increased their price target on shares of ConocoPhillips from $135.00 to $140.00 and gave the stock an outperform rating in a research report on Wednesday, May 15th. Bank of America reissued a buy rating and issued a $147.00 price objective on shares of ConocoPhillips in a report on Friday, June 14th. Finally, Truist Financial cut their price objective on ConocoPhillips from $147.00 to $145.00 and set a buy rating on the stock in a research note on Friday. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $143.06.

ConocoPhillips Stock Down 2.4 %

COP stock traded down $2.62 during trading on Friday, reaching $105.77. The stock had a trading volume of 7,445,068 shares, compared to its average volume of 5,694,223. The company has a current ratio of 1.33, a quick ratio of 1.21 and a debt-to-equity ratio of 0.34. The firm has a fifty day moving average price of $112.75 and a 200 day moving average price of $117.04. The company has a market capitalization of $123.70 billion, a P/E ratio of 11.97, a PEG ratio of 2.14 and a beta of 1.24. ConocoPhillips has a 1-year low of $103.98 and a 1-year high of $135.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.08). ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The business had revenue of $14.14 billion during the quarter, compared to analysts’ expectations of $14.96 billion. During the same period in the prior year, the company posted $1.84 EPS. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. On average, equities analysts anticipate that ConocoPhillips will post 8.73 earnings per share for the current year.

ConocoPhillips Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Monday, August 12th will be given a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 2.19%. The ex-dividend date is Monday, August 12th. ConocoPhillips’s dividend payout ratio is currently 26.27%.

Institutional Investors Weigh In On ConocoPhillips

Several institutional investors have recently bought and sold shares of the stock. Breakwater Capital Group grew its holdings in ConocoPhillips by 12.2% during the fourth quarter. Breakwater Capital Group now owns 3,942 shares of the energy producer’s stock worth $426,000 after acquiring an additional 430 shares during the period. Avitas Wealth Management LLC raised its holdings in shares of ConocoPhillips by 1.2% in the 4th quarter. Avitas Wealth Management LLC now owns 13,869 shares of the energy producer’s stock worth $1,610,000 after purchasing an additional 162 shares in the last quarter. Arvest Investments Inc. bought a new stake in shares of ConocoPhillips in the 4th quarter worth approximately $1,057,000. International Assets Investment Management LLC lifted its stake in ConocoPhillips by 13,905.3% during the fourth quarter. International Assets Investment Management LLC now owns 1,114,261 shares of the energy producer’s stock valued at $129,332,000 after purchasing an additional 1,106,305 shares during the last quarter. Finally, Arkadios Wealth Advisors grew its position in ConocoPhillips by 5.1% in the fourth quarter. Arkadios Wealth Advisors now owns 7,094 shares of the energy producer’s stock worth $823,000 after buying an additional 343 shares during the last quarter. Institutional investors and hedge funds 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.