ConocoPhillips (NYSE:COP) Price Target Lowered to $115.00 at JPMorgan Chase & Co.

ConocoPhillips (NYSE:COP) had its target price lowered by JPMorgan Chase & Co. from $127.00 to $115.00 in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the energy producer’s stock.

Other equities analysts also recently issued research reports about the stock. UBS Group decreased their price objective on shares of ConocoPhillips from $140.00 to $137.00 and set a “buy” rating for the company in a research note on Wednesday, February 12th. Evercore ISI restated an “outperform” rating and issued a $165.00 price objective on shares of ConocoPhillips in a research note on Friday, December 6th. Barclays decreased their price objective on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Piper Sandler decreased their price objective on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Finally, Wells Fargo & Company decreased their price objective on shares of ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $133.05.

ConocoPhillips Stock Performance

NYSE:COP opened at $99.10 on Thursday. The firm has a market capitalization of $126.09 billion, a PE ratio of 12.72, a price-to-earnings-growth ratio of 0.79 and a beta of 1.12. The business’s fifty day moving average price is $99.22 and its 200 day moving average price is $103.81. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. ConocoPhillips has a 12 month low of $86.81 and a 12 month high of $135.18.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. On average, sell-side analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were issued a $0.78 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a yield of 3.15%. ConocoPhillips’s dividend payout ratio (DPR) is presently 40.05%.

Insider Buying and Selling at ConocoPhillips

In other news, Director R A. Walker purchased 10,400 shares of the stock in a transaction dated Tuesday, December 17th. The stock was acquired at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the completion of the acquisition, the director now directly owns 38,000 shares in the company, valued at $3,716,400. This represents a 37.68 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Arjun N. Murti bought 2,500 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were purchased at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the transaction, the director now owns 21,500 shares of the company’s stock, valued at $2,061,205. The trade was a 13.16 % increase in their position. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ConocoPhillips

Several hedge funds have recently made changes to their positions in the business. Cypress Capital Group boosted its holdings in shares of ConocoPhillips by 0.5% during the third quarter. Cypress Capital Group now owns 18,790 shares of the energy producer’s stock worth $1,978,000 after purchasing an additional 96 shares during the last quarter. Orrstown Financial Services Inc. boosted its holdings in shares of ConocoPhillips by 3.0% during the fourth quarter. Orrstown Financial Services Inc. now owns 3,342 shares of the energy producer’s stock worth $331,000 after purchasing an additional 96 shares during the last quarter. Smithfield Trust Co boosted its holdings in shares of ConocoPhillips by 3.3% during the third quarter. Smithfield Trust Co now owns 3,132 shares of the energy producer’s stock worth $332,000 after purchasing an additional 100 shares during the last quarter. Principle Wealth Partners LLC boosted its holdings in shares of ConocoPhillips by 0.3% during the fourth quarter. Principle Wealth Partners LLC now owns 37,255 shares of the energy producer’s stock worth $3,695,000 after purchasing an additional 100 shares during the last quarter. Finally, Arlington Trust Co LLC boosted its holdings in shares of ConocoPhillips by 1.2% during the fourth quarter. Arlington Trust Co LLC now owns 8,640 shares of the energy producer’s stock worth $857,000 after purchasing an additional 102 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

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.