ConocoPhillips (NYSE:COP) Given New $115.00 Price Target at Citigroup

ConocoPhillips (NYSE:COP) had its price objective decreased by Citigroup from $140.00 to $115.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Citigroup currently has a buy rating on the energy producer’s stock.

A number of other analysts also recently commented on COP. Morgan Stanley boosted their target price on shares of ConocoPhillips from $116.00 to $118.00 and gave the stock an “overweight” rating in a report on Friday, May 9th. JPMorgan Chase & Co. dropped their target price on shares of ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Piper Sandler dropped their target price on shares of ConocoPhillips from $114.00 to $107.00 and set an “overweight” rating on the stock in a report on Tuesday, May 13th. Wells Fargo & Company dropped their target price on shares of ConocoPhillips from $116.00 to $113.00 and set an “overweight” rating on the stock in a report on Wednesday, May 14th. Finally, UBS Group cut their price target on shares of ConocoPhillips from $116.00 to $111.00 and set a “buy” rating on the stock in a report on Tuesday, April 15th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, ConocoPhillips currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.30.

ConocoPhillips Stock Performance

ConocoPhillips stock opened at $97.00 on Wednesday. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $118.40. The company has a market capitalization of $122.63 billion, a price-to-earnings ratio of 12.45, a price-to-earnings-growth ratio of 0.79 and a beta of 0.61. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. The firm’s fifty day moving average price is $88.91 and its 200 day moving average price is $95.95.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, beating the consensus estimate of $2.05 by $0.04. The business had revenue of $16.18 billion during the quarter, compared to analyst estimates of $15.74 billion. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. During the same period in the previous year, the business posted $2.05 EPS. On average, research analysts forecast that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date was Monday, May 19th. ConocoPhillips’s payout ratio is currently 39.64%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Murphy & Mullick Capital Management Corp bought a new position in shares of ConocoPhillips during the fourth quarter valued at $26,000. Centricity Wealth Management LLC bought a new position in shares of ConocoPhillips during the fourth quarter valued at $27,000. 10Elms LLP bought a new position in ConocoPhillips in the fourth quarter valued at about $28,000. Financial Network Wealth Advisors LLC lifted its holdings in ConocoPhillips by 341.5% in the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock valued at $30,000 after acquiring an additional 222 shares during the period. Finally, Stone House Investment Management LLC bought a new position in ConocoPhillips in the first quarter valued at about $31,000. 82.36% of the stock is owned by institutional investors.

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.