ConocoPhillips (NYSE:COP) Given New $109.00 Price Target at Raymond James

ConocoPhillips (NYSE:COP) had its target price hoisted by Raymond James from $103.00 to $109.00 in a research note released on Tuesday,Benzinga reports. The firm currently has an outperform rating on the energy producer’s stock.

A number of other research firms have also recently weighed in on COP. Royal Bank of Canada decreased their price target on ConocoPhillips from $133.00 to $120.00 and set an “outperform” rating for the company in a report on Monday, April 14th. Barclays reduced their target price on ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. Wells Fargo & Company reduced their target price on ConocoPhillips from $116.00 to $113.00 and set an “overweight” rating for the company in a research note on Wednesday, May 14th. Scotiabank reduced their target price on ConocoPhillips from $115.00 to $95.00 and set a “sector perform” rating for the company in a research note on Friday, April 11th. Finally, Piper Sandler dropped their price target on ConocoPhillips from $114.00 to $107.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 13th. Three equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $121.95.

ConocoPhillips Stock Down 0.9%

NYSE COP opened at $89.63 on Tuesday. The stock has a market cap of $113.31 billion, a PE ratio of 11.51, a P/E/G ratio of 0.79 and a beta of 0.64. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $121.73. The business has a 50 day moving average price of $92.96 and a two-hundred day moving average price of $98.77. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $2.05 by $0.04. The firm had revenue of $16.18 billion during the quarter, compared to analysts’ expectations of $15.74 billion. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. During the same quarter in the prior year, the business earned $2.05 EPS. As a group, sell-side analysts predict that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be paid a dividend of $0.78 per share. The ex-dividend date is Monday, May 19th. This represents a $3.12 annualized dividend and a yield of 3.48%. ConocoPhillips’s dividend payout ratio is currently 39.64%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Albion Financial Group UT boosted its stake in ConocoPhillips by 876.9% during the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after buying an additional 228 shares in the last quarter. Murphy & Mullick Capital Management Corp purchased a new stake in shares of ConocoPhillips during the fourth quarter valued at $26,000. Centricity Wealth Management LLC purchased a new stake in shares of ConocoPhillips during the fourth quarter valued at $27,000. 10Elms LLP purchased a new stake in shares of ConocoPhillips during the fourth quarter valued at $28,000. Finally, Financial Network Wealth Advisors LLC lifted its holdings in shares of ConocoPhillips by 341.5% during the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock valued at $30,000 after purchasing an additional 222 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

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.