Brokerages Set ConocoPhillips (NYSE:COP) Target Price at $132.95

Shares of ConocoPhillips (NYSE:COP) have been given a consensus rating of “Buy” by the nineteen analysts that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation, seventeen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $131.84.

A number of analysts have weighed in on COP shares. Piper Sandler cut their target price on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Mizuho raised ConocoPhillips from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $132.00 to $134.00 in a report on Monday, December 16th. Truist Financial boosted their price objective on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Raymond James downgraded ConocoPhillips from a “strong-buy” rating to an “outperform” rating and dropped their target price for the company from $157.00 to $124.00 in a research report on Monday, February 10th. Finally, JPMorgan Chase & Co. reduced their price target on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in COP. Albion Financial Group UT lifted its stake in ConocoPhillips by 876.9% in the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after buying an additional 228 shares during the period. Murphy & Mullick Capital Management Corp bought a new stake in shares of ConocoPhillips in the 4th quarter valued at $26,000. Centricity Wealth Management LLC acquired a new position in shares of ConocoPhillips during the 4th quarter valued at $27,000. 10Elms LLP bought a new position in ConocoPhillips during the fourth quarter worth $28,000. Finally, Crowley Wealth Management Inc. acquired a new stake in ConocoPhillips in the fourth quarter worth $32,000. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Price Performance

Shares of COP stock opened at $85.74 on Tuesday. The business has a fifty day simple moving average of $98.19 and a 200 day simple moving average of $102.89. The company has a market cap of $108.38 billion, a P/E ratio of 11.01, a P/E/G ratio of 0.79 and a beta of 0.83. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. ConocoPhillips has a twelve month low of $81.72 and a twelve month high of $135.18.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. On average, sell-side analysts forecast that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were issued a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a yield of 3.64%. ConocoPhillips’s payout ratio is currently 40.05%.

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.