ConocoPhillips (NYSE:COP) Given New $122.00 Price Target at Wolfe Research

ConocoPhillips (NYSE:COP) had its price objective reduced by Wolfe Research from $126.00 to $122.00 in a research report report published on Tuesday morning,MarketScreener reports. They currently have an outperform rating on the energy producer’s stock.

Other equities research analysts have also issued reports about the stock. UBS Group lifted their target price on shares of ConocoPhillips from $117.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, December 12th. Johnson Rice lowered ConocoPhillips from an “accumulate” rating to a “hold” rating and dropped their price target for the stock from $108.00 to $105.00 in a research note on Friday, December 5th. Evercore ISI cut their price objective on ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating for the company in a report on Monday, October 6th. The Goldman Sachs Group decreased their price objective on ConocoPhillips from $111.00 to $108.00 and set a “buy” rating on the stock in a report on Friday, October 17th. Finally, Jefferies Financial Group restated a “buy” rating on shares of ConocoPhillips in a research report on Monday, December 15th. Eighteen equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $111.56.

ConocoPhillips Price Performance

NYSE:COP traded down $1.43 during trading hours on Tuesday, hitting $98.91. The stock had a trading volume of 7,455,881 shares, compared to its average volume of 9,739,338. The company has a 50 day simple moving average of $92.16 and a two-hundred day simple moving average of $92.80. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 1.18. ConocoPhillips has a one year low of $79.88 and a one year high of $106.20. The firm has a market capitalization of $122.22 billion, a price-to-earnings ratio of 13.99, a P/E/G ratio of 2.61 and a beta of 0.32.

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

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Monday, November 17th were issued a $0.84 dividend. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.78. This represents a $3.36 annualized dividend and a dividend yield of 3.4%. The ex-dividend date was Monday, November 17th. ConocoPhillips’s dividend payout ratio (DPR) is 47.52%.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Victory Financial Group LLC purchased a new position in shares of ConocoPhillips during the fourth quarter valued at approximately $346,000. Uncommon Cents Investing LLC increased its position in ConocoPhillips by 0.7% during the 4th quarter. Uncommon Cents Investing LLC now owns 53,380 shares of the energy producer’s stock valued at $4,997,000 after purchasing an additional 384 shares during the period. Lodestone Wealth Management LLC raised its holdings in ConocoPhillips by 2.0% in the 4th quarter. Lodestone Wealth Management LLC now owns 13,681 shares of the energy producer’s stock worth $1,281,000 after purchasing an additional 267 shares in the last quarter. Nilsine Partners LLC boosted its stake in shares of ConocoPhillips by 27.6% during the 4th quarter. Nilsine Partners LLC now owns 4,414 shares of the energy producer’s stock valued at $413,000 after purchasing an additional 955 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its position in shares of ConocoPhillips by 1.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 396,273 shares of the energy producer’s stock valued at $37,095,000 after buying an additional 6,303 shares during the period. 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.