ConocoPhillips (NYSE:COP) Given New $160.00 Price Target at Truist Financial

ConocoPhillips (NYSE:COP) had its price target lowered by Truist Financial from $170.00 to $160.00 in a report issued on Monday, Benzinga reports. Truist Financial currently has a buy rating on the energy producer’s stock.

COP has been the topic of a number of other research reports. Mizuho reissued a neutral rating and set a $139.00 target price (up previously from $132.00) on shares of ConocoPhillips in a report on Friday, March 22nd. Barclays initiated coverage on ConocoPhillips in a research note on Wednesday, April 10th. They set an overweight rating and a $158.00 price objective on the stock. Piper Sandler raised their target price on ConocoPhillips from $145.00 to $157.00 and gave the stock an overweight rating in a research note on Thursday, April 18th. Wells Fargo & Company upped their price target on ConocoPhillips from $141.00 to $149.00 and gave the company an overweight rating in a research report on Wednesday, April 10th. Finally, Raymond James cut their price objective on shares of ConocoPhillips from $140.00 to $137.00 and set a strong-buy rating for the company in a research report on Wednesday, January 24th. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, ConocoPhillips currently has a consensus rating of Moderate Buy and an average target price of $142.65.

ConocoPhillips Stock Performance

NYSE COP opened at $130.22 on Monday. The company has a market capitalization of $153.19 billion, a PE ratio of 14.37, a price-to-earnings-growth ratio of 2.72 and a beta of 1.24. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.29 and a current ratio of 1.43. ConocoPhillips has a 52-week low of $95.70 and a 52-week high of $135.18. The company has a 50-day simple moving average of $122.88 and a 200 day simple moving average of $117.67.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, February 8th. The energy producer reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.32. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. The company had revenue of $15.31 billion for the quarter, compared to analysts’ expectations of $14.47 billion. During the same quarter in the previous year, the firm posted $2.71 EPS. On average, research analysts predict that ConocoPhillips will post 9.57 EPS for the current year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Monday, February 19th were issued a $0.78 dividend. The ex-dividend date was Thursday, February 15th. This represents a $3.12 annualized dividend and a dividend yield of 2.40%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s payout ratio is currently 25.61%.

Insider Activity at ConocoPhillips

In related news, VP Christopher P. Delk sold 8,505 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total transaction of $953,070.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other ConocoPhillips news, CEO Ryan Michael Lance sold 607,000 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $125.91, for a total value of $76,427,370.00. Following the completion of the sale, the chief executive officer now owns 6,780 shares in the company, valued at approximately $853,669.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Christopher P. Delk sold 8,505 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total value of $953,070.30. The disclosure for this sale can be found here. Insiders sold 700,775 shares of company stock worth $87,615,169 in the last ninety days. 0.34% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD raised its holdings in ConocoPhillips by 24.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 23,712,617 shares of the energy producer’s stock worth $2,752,325,000 after purchasing an additional 4,726,952 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in ConocoPhillips by 512.8% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,737,026 shares of the energy producer’s stock worth $433,757,000 after acquiring an additional 3,127,165 shares in the last quarter. Alphinity Investment Management Pty Ltd purchased a new stake in ConocoPhillips in the third quarter worth about $310,102,000. Capital Wealth Planning LLC increased its stake in shares of ConocoPhillips by 45,426.8% during the third quarter. Capital Wealth Planning LLC now owns 1,429,085 shares of the energy producer’s stock valued at $171,204,000 after purchasing an additional 1,425,946 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of ConocoPhillips by 3,931.3% during the first quarter. Assenagon Asset Management S.A. now owns 1,455,878 shares of the energy producer’s stock valued at $185,304,000 after purchasing an additional 1,419,764 shares during the last quarter. 82.36% of the stock is currently owned by 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.