ConocoPhillips (NYSE:COP) PT Raised to $134.00

ConocoPhillips (NYSE:COPGet Rating) had its price objective boosted by Piper Sandler from $123.00 to $134.00 in a report published on Monday morning, The Fly reports. The brokerage currently has an overweight rating on the energy producer’s stock.

Several other equities analysts also recently issued reports on COP. Truist Financial cut their price objective on shares of ConocoPhillips from $126.00 to $123.00 and set a buy rating on the stock in a report on Wednesday, July 13th. Mizuho cut their price objective on shares of ConocoPhillips from $148.00 to $138.00 and set a buy rating on the stock in a report on Thursday, August 18th. StockNews.com downgraded shares of ConocoPhillips from a buy rating to a hold rating in a report on Tuesday, August 16th. Barclays upped their price objective on shares of ConocoPhillips from $142.00 to $153.00 and gave the company an overweight rating in a report on Wednesday, August 31st. Finally, MKM Partners upped their price objective on shares of ConocoPhillips from $110.00 to $118.00 and gave the company a buy rating in a report on Friday, August 26th. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $121.47.

ConocoPhillips Stock Performance

COP stock opened at $114.39 on Monday. The firm has a market cap of $147.96 billion, a price-to-earnings ratio of 9.45, a PEG ratio of 0.36 and a beta of 1.31. The firm has a 50-day simple moving average of $97.35 and a two-hundred day simple moving average of $100.28. ConocoPhillips has a one year low of $56.30 and a one year high of $124.08. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.44 and a current ratio of 1.54.

ConocoPhillips (NYSE:COPGet Rating) last released its quarterly earnings results on Thursday, August 4th. The energy producer reported $3.91 EPS for the quarter, missing the consensus estimate of $3.95 by ($0.04). ConocoPhillips had a net margin of 23.10% and a return on equity of 31.24%. During the same quarter in the previous year, the business earned $1.27 EPS. On average, equities analysts forecast that ConocoPhillips will post 15.13 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a None dividend, which will be paid on Friday, October 14th. Stockholders of record on Thursday, September 29th will be paid a dividend of $1.40 per share. The ex-dividend date is Thursday, September 29th. ConocoPhillips’s payout ratio is 15.19%.

Institutional Investors Weigh In On ConocoPhillips

A number of hedge funds and other institutional investors have recently made changes to their positions in COP. Delos Wealth Advisors LLC grew its stake in shares of ConocoPhillips by 1,300.0% during the 4th quarter. Delos Wealth Advisors LLC now owns 378 shares of the energy producer’s stock worth $27,000 after purchasing an additional 351 shares during the period. James Investment Research Inc. acquired a new stake in shares of ConocoPhillips during the 1st quarter worth approximately $29,000. Fairfield Bush & CO. acquired a new stake in shares of ConocoPhillips during the 1st quarter worth approximately $31,000. Heritage Financial Services LLC acquired a new stake in shares of ConocoPhillips during the 2nd quarter worth approximately $36,000. Finally, Apeiron RIA LLC purchased a new position in shares of ConocoPhillips during the 2nd quarter valued at approximately $36,000. Institutional investors and hedge funds own 79.66% of the company’s stock.

About ConocoPhillips

(Get Rating)

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. It primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.

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