ConocoPhillips (NYSE:COP) Price Target Raised to $130.00

ConocoPhillips (NYSE:COP) had its price objective upped by Truist Financial from $115.00 to $130.00 in a report published on Monday,Benzinga reports. They currently have a hold rating on the energy producer’s stock.

A number of other research firms also recently issued reports on COP. Wells Fargo & Company boosted their price objective on shares of ConocoPhillips from $183.00 to $189.00 and gave the company an “overweight” rating in a report on Friday, August 7th. BMO Capital Markets lowered their target price on shares of ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. Susquehanna lifted their price target on shares of ConocoPhillips from $152.00 to $155.00 and gave the company a “positive” rating in a research report on Tuesday, July 21st. Raymond James Financial cut their price target on ConocoPhillips from $145.00 to $142.00 and set an “outperform” rating for the company in a research note on Monday, June 1st. Finally, The Goldman Sachs Group reduced their price target on ConocoPhillips from $144.00 to $138.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and an average target price of $137.68.

ConocoPhillips Stock Up 0.8%

COP opened at $126.96 on Monday. ConocoPhillips has a fifty-two week low of $85.57 and a fifty-two week high of $135.87. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.39 and a current ratio of 1.54. The company has a market capitalization of $152.52 billion, a P/E ratio of 16.79, a P/E/G ratio of 1.39 and a beta of 0.11. The stock has a fifty day moving average of $113.57 and a 200-day moving average of $116.34.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.90 by $0.34. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The company had revenue of $19.52 billion during the quarter, compared to analysts’ expectations of $18.79 billion. During the same quarter in the previous year, the business posted $1.42 earnings per share. ConocoPhillips’s quarterly revenue was up 32.4% on a year-over-year basis. On average, equities analysts expect that ConocoPhillips will post 10.05 EPS for the current year.

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th will be paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Monday, August 17th. ConocoPhillips’s dividend payout ratio is presently 44.44%.

Hedge Funds Weigh In On ConocoPhillips

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in ConocoPhillips in the fourth quarter valued at approximately $25,000. Strive Asset Management LLC bought a new stake in ConocoPhillips during the third quarter worth $28,000. Frazier Financial Advisors LLC boosted its holdings in shares of ConocoPhillips by 151.0% in the 1st quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock valued at $32,000 after purchasing an additional 145 shares in the last quarter. Allied Private Wealth LLC acquired a new stake in shares of ConocoPhillips in the 2nd quarter valued at $32,000. Finally, BNP Paribas bought a new position in shares of ConocoPhillips in the 2nd quarter valued at $33,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Company Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.