Brokerages Set ConocoPhillips (NYSE:COP) Price Target at $136.71

Shares of ConocoPhillips (NYSE:COP) have earned a consensus rating of “Buy” from the eighteen brokerages that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $136.71.

Several equities research analysts have recently weighed in on the stock. Wells Fargo & Company increased their price objective on shares of ConocoPhillips from $131.00 to $134.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Morgan Stanley began coverage on ConocoPhillips in a report on Monday, December 16th. They set an “overweight” rating and a $128.00 price target for the company. Piper Sandler dropped their price objective on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. UBS Group decreased their target price on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Finally, BMO Capital Markets boosted their price target on ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research note on Friday, October 4th.

Insiders Place Their Bets

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

Hedge Funds Weigh In On ConocoPhillips

Several hedge funds have recently modified their holdings of COP. Values First Advisors Inc. purchased a new stake in shares of ConocoPhillips during the third quarter valued at approximately $26,000. Stephens Consulting LLC increased its position in shares of ConocoPhillips by 69.3% during the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after purchasing an additional 104 shares during the last quarter. Reston Wealth Management LLC bought a new stake in shares of ConocoPhillips during the 3rd quarter worth $31,000. Truvestments Capital LLC purchased a new position in shares of ConocoPhillips in the 3rd quarter worth about $31,000. Finally, Y.D. More Investments Ltd bought a new position in ConocoPhillips during the second quarter valued at about $35,000. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Up 0.8 %

Shares of NYSE:COP opened at $97.11 on Friday. The firm has a market cap of $111.77 billion, a P/E ratio of 11.55, a P/E/G ratio of 0.83 and a beta of 1.18. ConocoPhillips has a 12-month low of $94.23 and a 12-month high of $135.18. The business has a fifty day simple moving average of $106.00 and a 200 day simple moving average of $108.93. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. The company had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The firm’s quarterly revenue was down 8.5% on a year-over-year basis. During the same period in the previous year, the firm earned $2.16 earnings per share. Analysts predict that ConocoPhillips will post 7.77 earnings per share for the current year.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 11th were paid a dividend of $0.78 per share. The ex-dividend date was Friday, November 8th. This represents a $3.12 dividend on an annualized basis and a yield of 3.21%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s payout ratio is 37.10%.

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.