ConocoPhillips (NYSE:COP) Price Target Cut to $116.00 by Analysts at UBS Group

ConocoPhillips (NYSE:COP) had its target price trimmed by UBS Group from $130.00 to $116.00 in a research report released on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the energy producer’s stock.

A number of other analysts also recently weighed in on the stock. JPMorgan Chase & Co. cut their price target on shares of ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Wells Fargo & Company cut their target price on shares of ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Barclays reduced their price target on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Morgan Stanley lowered their price objective on shares of ConocoPhillips from $131.00 to $126.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. Finally, The Goldman Sachs Group set a $132.00 target price on ConocoPhillips in a report on Thursday, January 30th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $131.84.

ConocoPhillips Stock Performance

ConocoPhillips stock opened at $85.74 on Monday. ConocoPhillips has a 12-month low of $81.72 and a 12-month high of $135.18. The stock has a market capitalization of $108.38 billion, a price-to-earnings ratio of 11.01, a P/E/G ratio of 0.79 and a beta of 0.83. 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 stock has a 50-day simple moving average of $98.19 and a 200 day simple moving average of $102.89.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. On average, research analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.64%. The ex-dividend date was Friday, February 14th. ConocoPhillips’s payout ratio is 40.05%.

Institutional Investors Weigh In On ConocoPhillips

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. EP Wealth Advisors LLC boosted its position in ConocoPhillips by 22.6% during the third quarter. EP Wealth Advisors LLC now owns 38,690 shares of the energy producer’s stock valued at $4,073,000 after purchasing an additional 7,131 shares during the last quarter. iA Global Asset Management Inc. raised its stake in shares of ConocoPhillips by 9.1% during the 3rd quarter. iA Global Asset Management Inc. now owns 24,335 shares of the energy producer’s stock worth $2,562,000 after purchasing an additional 2,033 shares in the last quarter. iSAM Funds UK Ltd acquired a new stake in shares of ConocoPhillips in the 3rd quarter valued at approximately $299,000. Nomura Asset Management Co. Ltd. grew its stake in shares of ConocoPhillips by 11.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 634,547 shares of the energy producer’s stock valued at $66,805,000 after buying an additional 64,378 shares in the last quarter. Finally, Hamilton Capital LLC grew its stake in shares of ConocoPhillips by 10.6% in the third quarter. Hamilton Capital LLC now owns 9,999 shares of the energy producer’s stock valued at $1,095,000 after buying an additional 958 shares in the last quarter. 82.36% of the stock is owned by institutional investors.

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.