ConocoPhillips (NYSE:COP) Receives $144.18 Average Price Target from Brokerages

Shares of ConocoPhillips (NYSE:COP) have been given a consensus rating of “Moderate Buy” by the eighteen research firms that are currently covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation, twelve have given a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $144.18.

COP has been the subject of a number of recent research reports. Argus raised ConocoPhillips to a “strong-buy” rating in a report on Friday, June 7th. StockNews.com upgraded ConocoPhillips from a “hold” rating to a “buy” rating in a report on Thursday, June 27th. Bank of America restated a “buy” rating and set a $147.00 price objective on shares of ConocoPhillips in a research note on Friday, June 14th. Raymond James reiterated a “strong-buy” rating and issued a $159.00 target price (up previously from $155.00) on shares of ConocoPhillips in a research note on Thursday, May 30th. Finally, Truist Financial raised their price target on shares of ConocoPhillips from $160.00 to $165.00 and gave the company a “buy” rating in a research report on Monday, June 3rd.

ConocoPhillips Stock Performance

NYSE COP opened at $114.13 on Friday. The company has a market cap of $133.48 billion, a P/E ratio of 12.93, a PEG ratio of 2.04 and a beta of 1.24. The company has a fifty day simple moving average of $118.00 and a 200 day simple moving average of $117.61. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 12-month low of $99.35 and a 12-month high of $135.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, May 2nd. The energy producer reported $2.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.04. The firm had revenue of $14.48 billion during the quarter, compared to analysts’ expectations of $14.72 billion. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. Sell-side analysts predict that ConocoPhillips will post 8.89 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 13th were paid a $0.78 dividend. The ex-dividend date of this dividend was Friday, May 10th. This represents a $3.12 annualized dividend and a dividend yield of 2.73%. ConocoPhillips’s payout ratio is presently 26.27%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Orion Capital Management LLC bought a new stake in shares of ConocoPhillips in the third quarter valued at approximately $27,000. West Branch Capital LLC boosted its holdings in ConocoPhillips by 87.8% in the 4th quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock worth $27,000 after buying an additional 108 shares during the period. Sachetta LLC purchased a new position in ConocoPhillips in the 4th quarter valued at approximately $27,000. Cooksen Wealth LLC bought a new stake in ConocoPhillips during the 4th quarter valued at $27,000. Finally, Cape Investment Advisory Inc. lifted its position in shares of ConocoPhillips by 96.0% during the fourth quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock worth $29,000 after acquiring an additional 121 shares in 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.