Shares of ConocoPhillips (NYSE:COP – Get Rating) have earned an average recommendation of “Moderate Buy” from the twenty-three research firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, fourteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $134.71.
Several equities analysts have commented on COP shares. Raymond James lifted their target price on shares of ConocoPhillips from $135.00 to $150.00 and gave the stock a “strong-buy” rating in a research report on Monday, October 24th. Barclays lifted their price target on shares of ConocoPhillips from $135.00 to $151.00 and gave the stock an “overweight” rating in a report on Wednesday, December 7th. Societe Generale cut shares of ConocoPhillips from a “hold” rating to a “sell” rating and lifted their price target for the stock from $106.00 to $114.00 in a report on Monday, November 21st. They noted that the move was a valuation call. Truist Financial lifted their price target on shares of ConocoPhillips from $149.00 to $167.00 in a report on Monday, November 7th. Finally, Credit Suisse Group lifted their price target on shares of ConocoPhillips from $134.00 to $145.00 and gave the stock an “outperform” rating in a report on Friday, November 4th.
Insider Activity
In related news, Director Timothy A. Leach sold 4,860 shares of the company’s stock in a transaction on Thursday, December 15th. The shares were sold at an average price of $112.58, for a total value of $547,138.80. Following the completion of the transaction, the director now directly owns 661,142 shares in the company, valued at $74,431,366.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Timothy A. Leach sold 4,860 shares of the company’s stock in a transaction dated Thursday, December 15th. The shares were sold at an average price of $112.58, for a total transaction of $547,138.80. Following the completion of the transaction, the director now directly owns 661,142 shares of the company’s stock, valued at $74,431,366.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Nicholas G. Olds sold 10,950 shares of the company’s stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of $134.90, for a total transaction of $1,477,155.00. The disclosure for this sale can be found here. Company insiders own 0.40% of the company’s stock.
Institutional Investors Weigh In On ConocoPhillips
Several institutional investors have recently made changes to their positions in COP. Whalerock Point Partners LLC purchased a new position in shares of ConocoPhillips in the 3rd quarter worth approximately $204,680,000. Semmax Financial Advisors Inc. acquired a new position in shares of ConocoPhillips in the 3rd quarter valued at $33,000. Delos Wealth Advisors LLC raised its position in ConocoPhillips by 102.0% during the third quarter. Delos Wealth Advisors LLC now owns 297 shares of the energy producer’s stock worth $30,000 after acquiring an additional 150 shares during the period. Activest Wealth Management raised its position in ConocoPhillips by 30,200.0% during the third quarter. Activest Wealth Management now owns 303 shares of the energy producer’s stock worth $31,000 after acquiring an additional 302 shares during the period. Finally, Center for Financial Planning Inc. grew its holdings in shares of ConocoPhillips by 146.0% during the third quarter. Center for Financial Planning Inc. now owns 305 shares of the energy producer’s stock worth $31,000 after buying an additional 181 shares in the last quarter. Institutional investors own 81.76% of the company’s stock.
ConocoPhillips Price Performance
ConocoPhillips stock opened at $118.47 on Wednesday. ConocoPhillips has a 52 week low of $71.68 and a 52 week high of $138.49. The company’s 50 day moving average price is $122.97 and its two-hundred day moving average price is $109.15. The company has a quick ratio of 1.37, a current ratio of 1.46 and a debt-to-equity ratio of 0.33. The stock has a market cap of $147.62 billion, a P/E ratio of 8.54, a P/E/G ratio of 0.43 and a beta of 1.30.
ConocoPhillips (NYSE:COP – Get Rating) last posted its earnings results on Thursday, November 3rd. The energy producer reported $3.60 EPS for the quarter, topping the consensus estimate of $3.41 by $0.19. ConocoPhillips had a net margin of 22.90% and a return on equity of 35.02%. The firm had revenue of $21.61 billion for the quarter, compared to analysts’ expectations of $17.05 billion. On average, equities analysts predict that ConocoPhillips will post 14.09 earnings per share for the current year.
ConocoPhillips Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, January 13th. Stockholders of record on Tuesday, December 27th will be given a dividend of $0.51 per share. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.46. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date of this dividend is Friday, December 23rd. ConocoPhillips’s payout ratio is 14.70%.
About ConocoPhillips
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. It primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations. The company’s portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.
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