ConocoPhillips (NYSE:COP) PT Raised to $160.00 at Barclays

ConocoPhillips (NYSE:COPFree Report) had its price objective lifted by Barclays from $158.00 to $160.00 in a report published on Thursday, Benzinga reports. The brokerage currently has an overweight rating on the energy producer’s stock.

Other research analysts have also recently issued reports about the stock. Susquehanna lifted their price objective on shares of ConocoPhillips from $133.00 to $154.00 and gave the company a positive rating in a research note on Monday, April 22nd. Piper Sandler lifted their price target on ConocoPhillips from $145.00 to $157.00 and gave the company an overweight rating in a research note on Thursday, April 18th. Raymond James restated a strong-buy rating and set a $159.00 price objective (up from $155.00) on shares of ConocoPhillips in a research report on Thursday. Royal Bank of Canada lifted their target price on ConocoPhillips from $135.00 to $140.00 and gave the company an outperform rating in a research report on Wednesday, May 15th. Finally, Morgan Stanley increased their target price on shares of ConocoPhillips from $123.00 to $129.00 and gave the stock an overweight rating in a report on Thursday, March 28th. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $144.65.

Read Our Latest Stock Report on COP

ConocoPhillips Stock Performance

NYSE:COP opened at $116.48 on Thursday. The company has a market cap of $136.23 billion, a price-to-earnings ratio of 13.19, a PEG ratio of 2.56 and a beta of 1.25. ConocoPhillips has a fifty-two week low of $98.38 and a fifty-two week high of $135.18. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.21 and a current ratio of 1.35. The stock has a fifty day moving average price of $125.33 and a 200-day moving average price of $117.81.

ConocoPhillips (NYSE:COPGet Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The energy producer reported $2.03 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.04. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. The business had revenue of $14.48 billion during the quarter, compared to analysts’ expectations of $14.72 billion. As a group, equities analysts anticipate that ConocoPhillips will post 9.05 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 13th will be given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 2.68%. The ex-dividend date of this dividend is Friday, May 10th. ConocoPhillips’s dividend payout ratio is currently 26.27%.

Insiders Place Their Bets

In other news, CFO William L. Jr. Bullock sold 45,200 shares of the stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $123.32, for a total value of $5,574,064.00. Following the completion of the sale, the chief financial officer now owns 44,153 shares of the company’s stock, valued at $5,444,947.96. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO William L. Jr. Bullock sold 45,200 shares of the company’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $123.32, for a total value of $5,574,064.00. Following the sale, the chief financial officer now directly owns 44,153 shares of the company’s stock, valued at approximately $5,444,947.96. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Ryan Michael Lance sold 607,000 shares of ConocoPhillips stock in a transaction on Monday, March 25th. The stock was sold at an average price of $125.91, for a total transaction of $76,427,370.00. Following the transaction, the chief executive officer now directly owns 6,780 shares of the company’s stock, valued at approximately $853,669.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 664,350 shares of company stock valued at $83,537,680. 0.34% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in COP. Orion Capital Management LLC acquired a new position in ConocoPhillips in the third quarter valued at approximately $27,000. West Branch Capital LLC lifted its position in shares of ConocoPhillips by 87.8% during the 4th quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock valued at $27,000 after acquiring an additional 108 shares during the period. Cooksen Wealth LLC bought a new position in ConocoPhillips during the fourth quarter worth $27,000. Sachetta LLC acquired a new stake in ConocoPhillips in the fourth quarter worth $27,000. Finally, Richardson Capital Management LLC bought a new stake in ConocoPhillips in the first quarter valued at $31,000. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Company Profile

(Get Free Report)

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.

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Analyst Recommendations for ConocoPhillips (NYSE:COP)

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