ConocoPhillips (NYSE:COP) Receives $133.47 Average Price Target from Brokerages

Shares of ConocoPhillips (NYSE:COP) have been given an average rating of “Buy” by the nineteen research firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold recommendation, seventeen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $133.05.

Several brokerages recently commented on COP. Truist Financial increased their price objective on shares of ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Wells Fargo & Company dropped their price objective on shares of ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Evercore ISI reissued an “outperform” rating and issued a $165.00 price objective on shares of ConocoPhillips in a research note on Friday, December 6th. Barclays dropped their price target on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Finally, JPMorgan Chase & Co. dropped their price target on shares of ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a research note on Thursday.

Insiders Place Their Bets

In related news, Director R A. Walker purchased 10,400 shares of ConocoPhillips stock in a transaction on Tuesday, December 17th. The stock was acquired at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the completion of the acquisition, the director now owns 38,000 shares of the company’s stock, valued at $3,716,400. This trade represents a 37.68 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Arjun N. Murti purchased 2,500 shares of ConocoPhillips stock in a transaction on Friday, December 20th. The stock was bought at an average price of $95.87 per share, with a total value of $239,675.00. Following the completion of the acquisition, the director now directly owns 21,500 shares of the company’s stock, valued at approximately $2,061,205. This trade represents a 13.16 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Harbor Capital Advisors Inc. boosted its holdings in ConocoPhillips by 18.1% during the third quarter. Harbor Capital Advisors Inc. now owns 1,648 shares of the energy producer’s stock worth $174,000 after purchasing an additional 253 shares during the last quarter. United Advisor Group LLC boosted its holdings in ConocoPhillips by 33.4% during the third quarter. United Advisor Group LLC now owns 2,454 shares of the energy producer’s stock worth $258,000 after purchasing an additional 614 shares during the last quarter. Crestwood Advisors Group LLC boosted its holdings in ConocoPhillips by 1.7% during the third quarter. Crestwood Advisors Group LLC now owns 6,420 shares of the energy producer’s stock worth $676,000 after purchasing an additional 105 shares during the last quarter. Avidian Wealth Enterprises LLC boosted its holdings in ConocoPhillips by 2.2% during the third quarter. Avidian Wealth Enterprises LLC now owns 12,441 shares of the energy producer’s stock worth $1,310,000 after purchasing an additional 270 shares during the last quarter. Finally, 1834 Investment Advisors Co. boosted its holdings in ConocoPhillips by 1.8% during the third quarter. 1834 Investment Advisors Co. now owns 8,167 shares of the energy producer’s stock worth $860,000 after purchasing an additional 141 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Stock Performance

NYSE COP opened at $96.27 on Friday. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $122.49 billion, a price-to-earnings ratio of 12.36, a P/E/G ratio of 0.79 and a beta of 1.12. The firm’s 50 day simple moving average is $99.26 and its 200 day simple moving average is $103.97. ConocoPhillips has a 1 year low of $86.81 and a 1 year high of $135.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. As a group, research analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date was Friday, February 14th. ConocoPhillips’s payout ratio is 40.05%.

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.