ConocoPhillips (NYSE:COP – Free Report) had its target price cut by Truist Financial from $147.00 to $145.00 in a report released on Friday, Benzinga reports. They currently have a buy rating on the energy producer’s stock.
Several other equities analysts have also commented on COP. Wolfe Research started coverage on ConocoPhillips in a report on Thursday, July 18th. They set an outperform rating and a $145.00 target price for the company. Wells Fargo & Company raised their target price on ConocoPhillips from $149.00 to $151.00 and gave the company an overweight rating in a research note on Friday, May 3rd. Susquehanna upped their price target on shares of ConocoPhillips from $133.00 to $154.00 and gave the stock a positive rating in a research report on Monday, April 22nd. Scotiabank cut their price objective on shares of ConocoPhillips from $135.00 to $120.00 and set a sector perform rating on the stock in a research report on Friday, July 12th. Finally, StockNews.com lowered shares of ConocoPhillips from a buy rating to a hold rating in a research note on Wednesday, July 17th. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $143.06.
Check Out Our Latest Analysis on COP
ConocoPhillips Stock Performance
Shares of COP traded down $2.45 during mid-day trading on Friday, hitting $103.32. The stock had a trading volume of 2,882,608 shares, compared to its average volume of 5,645,043. The company has a quick ratio of 1.21, a current ratio of 1.33 and a debt-to-equity ratio of 0.34. The company has a market cap of $120.84 billion, a PE ratio of 11.98, a PEG ratio of 2.14 and a beta of 1.24. ConocoPhillips has a fifty-two week low of $102.47 and a fifty-two week high of $135.18. The company’s fifty day simple moving average is $112.75 and its two-hundred day simple moving average is $117.16.
ConocoPhillips (NYSE:COP – Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.02. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The firm had revenue of $14.14 billion during the quarter, compared to the consensus estimate of $14.96 billion. During the same quarter in the previous year, the company posted $1.84 earnings per share. The firm’s revenue was up 9.7% on a year-over-year basis. On average, equities analysts expect that ConocoPhillips will post 8.73 earnings per share for the current year.
ConocoPhillips Cuts Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Monday, August 12th will be issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend is Monday, August 12th. ConocoPhillips’s dividend payout ratio is currently 26.27%.
Institutional Investors Weigh In On ConocoPhillips
Hedge funds and other institutional investors have recently made changes to their positions in the company. Sachetta LLC acquired a new stake in shares of ConocoPhillips in the 4th quarter valued at $27,000. Cooksen Wealth LLC acquired a new stake in shares of ConocoPhillips in the 4th quarter valued at $27,000. Cape Investment Advisory Inc. lifted its stake in shares of ConocoPhillips by 96.0% in the 4th quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock valued at $29,000 after purchasing an additional 121 shares during the last quarter. Stephens Consulting LLC lifted its stake in shares of ConocoPhillips by 69.3% in 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. Finally, Richardson Capital Management LLC acquired a new stake in shares of ConocoPhillips in the 1st quarter valued at $31,000. 82.36% of the stock is owned by hedge funds and other 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.
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Source: defenseworld.net
