ConocoPhillips (NYSE:COP) Price Target Raised to $157.00

ConocoPhillips (NYSE:COP) had its target price increased by Piper Sandler from $145.00 to $157.00 in a report published on Thursday morning, Benzinga reports. They currently have an overweight rating on the energy producer’s stock.

Other equities research analysts have also issued reports about the company. UBS Group upped their price target on ConocoPhillips from $138.00 to $143.00 and gave the company a buy rating in a research report on Wednesday, February 14th. Wells Fargo & Company raised their target price on ConocoPhillips from $141.00 to $149.00 and gave the stock an overweight rating in a research note on Wednesday, April 10th. Barclays started coverage on shares of ConocoPhillips in a research report on Wednesday, April 10th. They set an overweight rating and a $158.00 price target on the stock. Scotiabank raised their price objective on shares of ConocoPhillips from $120.00 to $135.00 and gave the stock a sector perform rating in a research report on Thursday, April 11th. Finally, Morgan Stanley boosted their target price on shares of ConocoPhillips from $123.00 to $129.00 and gave the company an overweight rating in a report on Thursday, March 28th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $142.00.

ConocoPhillips Trading Up 1.2 %

Shares of COP stock opened at $129.38 on Thursday. ConocoPhillips has a fifty-two week low of $95.70 and a fifty-two week high of $135.18. The firm has a market capitalization of $152.20 billion, a P/E ratio of 14.28, a PEG ratio of 2.74 and a beta of 1.24. The stock’s fifty day moving average is $120.56 and its two-hundred day moving average is $117.17. 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 (NYSE:COP) last posted its quarterly earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.32. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. The firm had revenue of $15.31 billion for the quarter, compared to the consensus estimate of $14.47 billion. During the same period last year, the firm posted $2.71 earnings per share. Research analysts expect that ConocoPhillips will post 9.35 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Monday, February 19th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 2.41%. The ex-dividend date was Thursday, February 15th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio is currently 25.61%.

Insiders Place Their Bets

In related news, CEO Ryan Michael Lance sold 607,000 shares of the company’s stock in a transaction dated 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 directly owns 6,780 shares of the company’s stock, valued at approximately $853,669.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Ryan Michael Lance sold 607,000 shares of the stock in a transaction on Monday, March 25th. The shares were sold at an average price of $125.91, for a total transaction 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Christopher P. Delk sold 8,505 shares of ConocoPhillips 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 700,775 shares of company stock valued at $87,615,169. 0.34% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Capital Investment Counsel Inc purchased a new position in ConocoPhillips during the 3rd quarter worth $228,000. Columbia Trust Co 01012016 raised its holdings in ConocoPhillips by 1.2% during the fourth quarter. Columbia Trust Co 01012016 now owns 9,463 shares of the energy producer’s stock worth $1,098,000 after purchasing an additional 112 shares in the last quarter. Raymond James & Associates boosted its holdings in ConocoPhillips by 1.5% in the 4th quarter. Raymond James & Associates now owns 1,563,044 shares of the energy producer’s stock valued at $181,422,000 after purchasing an additional 23,572 shares in the last quarter. Syon Capital LLC acquired a new position in ConocoPhillips during the 3rd quarter worth approximately $2,262,000. Finally, PFG Investments LLC purchased a new position in shares of ConocoPhillips during the 3rd quarter worth approximately $233,000. 82.36% of the stock is currently 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.