ConocoPhillips (NYSE:COP) Receives $121.80 Consensus Target Price from Analysts

ConocoPhillips (NYSE:COP) has been given a consensus rating of “Moderate Buy” by the nineteen brokerages that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and seventeen have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $122.15.

COP has been the subject of several research analyst reports. Morgan Stanley lifted their target price on shares of ConocoPhillips from $116.00 to $118.00 and gave the company an “overweight” rating in a research report on Friday, May 9th. Susquehanna dropped their target price on shares of ConocoPhillips from $120.00 to $114.00 and set a “positive” rating for the company in a research report on Monday, May 12th. Barclays cut their price objective on shares of ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. UBS Group upped their price objective on shares of ConocoPhillips from $111.00 to $115.00 and gave the company a “buy” rating in a research note on Friday. Finally, Citigroup cut their price objective on shares of ConocoPhillips from $140.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, June 11th.

ConocoPhillips Trading Up 0.3%

Shares of ConocoPhillips stock opened at $95.66 on Thursday. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $118.40. The firm has a market cap of $120.93 billion, a PE ratio of 12.16, a PEG ratio of 2.58 and a beta of 0.61. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.27 and a quick ratio of 1.13. The company has a 50 day simple moving average of $90.58 and a two-hundred day simple moving average of $94.75.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.04. ConocoPhillips had a net margin of 16.02% and a return on equity of 16.54%. The business had revenue of $16.18 billion during the quarter, compared to analyst estimates of $15.74 billion. During the same period in the previous year, the business posted $2.05 earnings per share. Analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were given a $0.78 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.26%. ConocoPhillips’s dividend payout ratio is currently 39.64%.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, EVP Kirk L. Johnson acquired 5,300 shares of the business’s stock in a transaction dated Monday, June 16th. The shares were purchased at an average cost of $94.24 per share, for a total transaction of $499,472.00. Following the transaction, the executive vice president owned 14,527 shares in the company, valued at $1,369,024.48. This represents a 57.44% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.24% of the company’s stock.

Institutional Investors Weigh In On ConocoPhillips

A number of large investors have recently made changes to their positions in COP. Murphy & Mullick Capital Management Corp purchased a new position in shares of ConocoPhillips in the 4th quarter valued at approximately $26,000. 10Elms LLP purchased a new position in shares of ConocoPhillips in the 4th quarter valued at approximately $28,000. Financial Network Wealth Advisors LLC lifted its stake 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 valued at $30,000 after purchasing an additional 222 shares during the period. Stone House Investment Management LLC purchased a new position in shares of ConocoPhillips in the 1st quarter valued at approximately $31,000. Finally, Crowley Wealth Management Inc. purchased a new position in shares of ConocoPhillips in the 4th quarter valued at approximately $32,000. 82.36% of the stock is currently 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.