Piper Sandler Cuts ConocoPhillips (NYSE:COP) Price Target to $107.00

ConocoPhillips (NYSE:COP) had its price target reduced by Piper Sandler from $114.00 to $107.00 in a report published on Tuesday, MarketBeat reports. They currently have an overweight rating on the energy producer’s stock.

A number of other research analysts have also weighed in on COP. JPMorgan Chase & Co. cut their target price on shares of ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Royal Bank of Canada dropped their price objective on shares of ConocoPhillips from $133.00 to $120.00 and set an “outperform” rating for the company in a research note on Monday, April 14th. Wells Fargo & Company decreased their target price on shares of ConocoPhillips from $131.00 to $116.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 15th. Raymond James lowered ConocoPhillips from a “strong-buy” rating to an “outperform” rating and dropped their price target for the stock from $157.00 to $124.00 in a research report on Monday, February 10th. Finally, Truist Financial boosted their price objective on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Three research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $122.74.

ConocoPhillips Trading Up 0.3%

Shares of ConocoPhillips stock opened at $92.86 on Tuesday. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $122.11. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The business has a 50-day moving average price of $93.30 and a 200-day moving average price of $99.13. The firm has a market cap of $117.39 billion, a price-to-earnings ratio of 11.92, a PEG ratio of 0.79 and a beta of 0.64.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, beating analysts’ consensus estimates of $2.05 by $0.04. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. The company had revenue of $16.18 billion during the quarter, compared to analyst estimates of $15.74 billion. During the same period in the prior year, the company earned $2.05 earnings per share. Equities research analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date is Monday, May 19th. ConocoPhillips’s payout ratio is presently 39.64%.

Institutional Investors Weigh In On ConocoPhillips

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Albion Financial Group UT raised its stake in shares of ConocoPhillips by 876.9% during the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after acquiring an additional 228 shares in the last quarter. Murphy & Mullick Capital Management Corp purchased a new position in ConocoPhillips during the 4th quarter worth $26,000. Centricity Wealth Management LLC bought a new stake in ConocoPhillips during the 4th quarter valued at $27,000. 10Elms LLP bought a new stake in ConocoPhillips during the 4th quarter valued at $28,000. Finally, Financial Network Wealth Advisors LLC lifted its holdings in shares of ConocoPhillips by 341.5% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock worth $30,000 after buying an additional 222 shares during the period. Institutional investors own 82.36% of the company’s stock.

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.