ConocoPhillips (NYSE:COP) Price Target Cut to $140.00 by Analysts at UBS Group

ConocoPhillips (NYSE:COP) had its target price cut by UBS Group from $153.00 to $140.00 in a research note published on Wednesday, Benzinga reports. They currently have a buy rating on the energy producer’s stock.

Other equities analysts also recently issued research reports about the stock. Wolfe Research initiated coverage on shares of ConocoPhillips in a research note on Thursday, July 18th. They set an outperform rating and a $145.00 price objective on the stock. Bank of America reissued a buy rating and set a $147.00 price objective on shares of ConocoPhillips in a research note on Friday, June 14th. Argus raised shares of ConocoPhillips to a strong-buy rating in a research note on Friday, June 7th. Sanford C. Bernstein reduced their price objective on shares of ConocoPhillips from $147.00 to $132.00 and set an outperform rating on the stock in a research note on Wednesday, July 17th. Finally, Royal Bank of Canada reissued an outperform rating and set a $140.00 price objective on shares of ConocoPhillips in a research note on Friday, September 13th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ConocoPhillips presently has an average rating of Moderate Buy and a consensus target price of $142.29.

ConocoPhillips Stock Down 0.6 %

Shares of NYSE COP opened at $109.87 on Wednesday. ConocoPhillips has a 12-month low of $101.29 and a 12-month high of $135.18. The company has a market capitalization of $127.59 billion, a PE ratio of 12.44, a price-to-earnings-growth ratio of 0.80 and a beta of 1.22. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.33 and a quick ratio of 1.19. The firm’s 50-day moving average is $109.76 and its two-hundred day moving average is $116.57.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.02. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The company had revenue of $14.14 billion for the quarter, compared to the consensus estimate of $14.96 billion. During the same quarter in the prior year, the firm earned $1.84 earnings per share. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. Equities analysts anticipate that ConocoPhillips will post 8.41 EPS for the current fiscal year.

ConocoPhillips Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were given a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 2.11%. The ex-dividend date was Monday, August 12th. ConocoPhillips’s payout ratio is currently 26.27%.

Insider Transactions at ConocoPhillips

In related news, Director Timothy A. Leach sold 55,500 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the completion of the sale, the director now directly owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On ConocoPhillips

A number of large investors have recently added to or reduced their stakes in COP. Valued Wealth Advisors LLC raised its stake in ConocoPhillips by 45.8% during the 1st quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer’s stock valued at $33,000 after purchasing an additional 82 shares during the last quarter. Astoria Portfolio Advisors LLC. raised its stake in ConocoPhillips by 4.0% during the 1st quarter. Astoria Portfolio Advisors LLC. now owns 2,232 shares of the energy producer’s stock valued at $291,000 after purchasing an additional 85 shares during the last quarter. Manchester Capital Management LLC raised its stake in ConocoPhillips by 22.1% during the 1st quarter. Manchester Capital Management LLC now owns 475 shares of the energy producer’s stock valued at $60,000 after purchasing an additional 86 shares during the last quarter. Adirondack Trust Co. raised its stake in ConocoPhillips by 3.1% during the 4th quarter. Adirondack Trust Co. now owns 2,990 shares of the energy producer’s stock valued at $336,000 after purchasing an additional 90 shares during the last quarter. Finally, Mayfair Advisory Group LLC raised its stake in ConocoPhillips by 3.5% during the 1st quarter. Mayfair Advisory Group LLC now owns 2,627 shares of the energy producer’s stock valued at $334,000 after purchasing an additional 90 shares during the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Company Profile

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.