ConocoPhillips (NYSE:COP) Price Target Cut to $112.00 by Analysts at JPMorgan Chase & Co.

ConocoPhillips (NYSE:COP) had its target price cut by JPMorgan Chase & Co. from $115.00 to $112.00 in a research report sent to investors on Friday morning,MarketScreener reports. They currently have an overweight rating on the energy producer’s stock.

A number of other research firms also recently commented on COP. Raymond James Financial lowered their target price on ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating for the company in a research report on Monday, September 8th. Wolfe Research reiterated an “outperform” rating and set a $131.00 price objective on shares of ConocoPhillips in a research report on Thursday. Royal Bank Of Canada boosted their target price on shares of ConocoPhillips from $113.00 to $118.00 and gave the stock an “outperform” rating in a report on Monday, October 13th. Wells Fargo & Company began coverage on shares of ConocoPhillips in a research report on Friday, October 17th. They set an “equal weight” rating and a $100.00 target price on the stock. Finally, BMO Capital Markets boosted their price objective on ConocoPhillips from $115.00 to $117.00 and gave the stock an “outperform” rating in a research note on Monday, October 13th. Eighteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $114.54.

ConocoPhillips Price Performance

Shares of ConocoPhillips stock traded up $1.16 during trading on Friday, reaching $86.82. 7,567,386 shares of the stock traded hands, compared to its average volume of 7,704,949. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $115.38. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10. The business has a fifty day simple moving average of $91.58 and a two-hundred day simple moving average of $91.98. The company has a market capitalization of $108.43 billion, a price-to-earnings ratio of 11.65, a P/E/G ratio of 2.36 and a beta of 0.58.

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 company had revenue of $15.03 billion for the quarter, compared to the consensus estimate of $14.51 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.78 earnings per share. Sell-side analysts expect that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be paid a $0.84 dividend. The ex-dividend date is Monday, November 17th. This represents a $3.36 dividend on an annualized basis and a yield of 3.9%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.78. ConocoPhillips’s payout ratio is currently 41.88%.

Institutional Trading of ConocoPhillips

A number of hedge funds have recently added to or reduced their stakes in COP. Howard Hughes Medical Institute purchased a new stake in shares of ConocoPhillips in the 2nd quarter worth approximately $25,000. Cloud Capital Management LLC bought a new stake in ConocoPhillips during the 3rd quarter valued at $26,000. Bogart Wealth LLC increased its holdings in shares of ConocoPhillips by 136.8% in the 2nd quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock valued at $28,000 after acquiring an additional 182 shares during the period. Activest Wealth Management raised its position in shares of ConocoPhillips by 249.5% in the 2nd quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock worth $29,000 after acquiring an additional 232 shares in the last quarter. Finally, Financial Network Wealth Advisors LLC lifted its stake in shares of ConocoPhillips by 341.5% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock worth $30,000 after purchasing an additional 222 shares during the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

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.