ConocoPhillips (NYSE:COP) Price Target Raised to $116.00 at Capital One Financial

ConocoPhillips (NYSE:COP) had its price objective boosted by Capital One Financial from $111.00 to $116.00 in a research note published on Tuesday morning,MarketScreener reports. The brokerage currently has an equal weight rating on the energy producer’s stock.

Several other research firms also recently commented on COP. Sanford C. Bernstein reduced their price objective on ConocoPhillips from $116.00 to $98.00 and set an “outperform” rating for the company in a research note on Monday, January 5th. UBS Group boosted their target price on ConocoPhillips from $117.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. Royal Bank Of Canada increased their price objective on ConocoPhillips from $113.00 to $118.00 and gave the stock an “outperform” rating in a research report on Monday, October 13th. JPMorgan Chase & Co. restated a “neutral” rating and set a $98.00 target price on shares of ConocoPhillips in a research report on Tuesday. Finally, Mizuho boosted their price objective on shares of ConocoPhillips from $120.00 to $121.00 and gave the stock an “outperform” rating in a report on Friday, December 12th. Sixteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and a consensus target price of $111.04.

ConocoPhillips Stock Up 1.8%

Shares of NYSE COP traded up $1.68 during mid-day trading on Tuesday, reaching $97.20. The company had a trading volume of 2,112,740 shares, compared to its average volume of 9,136,017. The firm has a 50 day simple moving average of $92.95 and a two-hundred day simple moving average of $92.94. The stock has a market cap of $120.11 billion, a P/E ratio of 13.75, a PEG ratio of 2.73 and a beta of 0.32. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $106.20. The company has a current ratio of 1.32, a quick ratio of 1.18 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, November 6th. The energy producer reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.20. The business had revenue of $15.03 billion for the quarter, compared to analysts’ expectations of $14.51 billion. ConocoPhillips had a return on equity of 13.64% and a net margin of 14.25%.The business’s revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.78 earnings per share. Sell-side analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Monday, November 17th were paid a $0.84 dividend. The ex-dividend date was Monday, November 17th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.78. This represents a $3.36 annualized dividend and a yield of 3.5%. ConocoPhillips’s payout ratio is currently 47.52%.

Insider Activity

In other news, Director William H. Mcraven bought 5,768 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The shares were acquired at an average cost of $86.68 per share, with a total value of $499,970.24. Following the transaction, the director owned 5,768 shares of the company’s stock, valued at $499,970.24. This represents a ? increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Ryan Michael Lance sold 500,708 shares of the firm’s stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $92.50, for a total value of $46,315,490.00. Following the completion of the transaction, the chief executive officer owned 325,972 shares in the company, valued at approximately $30,152,410. This trade represents a 60.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.24% of the company’s stock.

Hedge Funds Weigh In On ConocoPhillips

A number of hedge funds have recently made changes to their positions in COP. Wedge Capital Management L L P NC lifted its position in ConocoPhillips by 4.1% during the 4th quarter. Wedge Capital Management L L P NC now owns 2,570 shares of the energy producer’s stock worth $241,000 after acquiring an additional 101 shares in the last quarter. Oregon Pacific Wealth Management LLC boosted its holdings in ConocoPhillips by 4.5% in the fourth quarter. Oregon Pacific Wealth Management LLC now owns 2,414 shares of the energy producer’s stock worth $226,000 after purchasing an additional 104 shares during the period. Navalign LLC increased its stake in ConocoPhillips by 1.1% during the second quarter. Navalign LLC now owns 9,918 shares of the energy producer’s stock valued at $890,000 after purchasing an additional 108 shares during the last quarter. Greenfield Savings Bank raised its holdings in shares of ConocoPhillips by 1.2% during the third quarter. Greenfield Savings Bank now owns 9,018 shares of the energy producer’s stock worth $853,000 after purchasing an additional 108 shares during the period. Finally, Redhawk Wealth Advisors Inc. boosted its holdings in shares of ConocoPhillips by 5.1% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 2,231 shares of the energy producer’s stock valued at $209,000 after buying an additional 109 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Company Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.