Bank of America Boosts ConocoPhillips (NYSE:COP) Price Target to $140.00

ConocoPhillips (NYSE:COPGet Rating) had its price target lifted by Bank of America from $134.00 to $140.00 in a research note released on Monday, MarketBeat.com reports. They currently have a buy rating on the energy producer’s stock.

COP has been the topic of several other research reports. Morgan Stanley upped their price objective on shares of ConocoPhillips from $117.00 to $118.00 and gave the company an overweight rating in a report on Monday, August 29th. StockNews.com downgraded ConocoPhillips from a buy rating to a hold rating in a research note on Tuesday, August 16th. MKM Partners increased their price objective on ConocoPhillips from $110.00 to $118.00 and gave the company a buy rating in a research note on Friday, August 26th. Piper Sandler raised their target price on ConocoPhillips from $123.00 to $134.00 and gave the stock an overweight rating in a research note on Monday, September 12th. Finally, Societe Generale increased their price target on ConocoPhillips to $127.00 in a report on Thursday, June 9th. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $121.79.

ConocoPhillips Trading Down 0.2 %

Shares of COP opened at $112.87 on Monday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.44 and a current ratio of 1.54. The company’s fifty day moving average is $100.18 and its 200 day moving average is $100.95. The stock has a market capitalization of $145.99 billion, a PE ratio of 9.32, a P/E/G ratio of 0.37 and a beta of 1.31. ConocoPhillips has a fifty-two week low of $56.30 and a fifty-two week high of $124.08.

ConocoPhillips (NYSE:COPGet Rating) last issued its earnings results on Thursday, August 4th. The energy producer reported $3.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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. Sell-side analysts expect that ConocoPhillips will post 14.68 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently announced a None dividend, which will be paid on Friday, October 14th. Investors of record on Thursday, September 29th will be issued a $1.40 dividend. The ex-dividend date is Thursday, September 29th. ConocoPhillips’s payout ratio is 15.19%.

Insider Buying and Selling

In related news, EVP Nicholas G. Olds sold 10,950 shares of ConocoPhillips stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $116.52, for a total transaction of $1,275,894.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.40% of the company’s stock.

Institutional Trading of ConocoPhillips

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Arkadios Wealth Advisors increased its stake in ConocoPhillips by 46.5% during the first quarter. Arkadios Wealth Advisors now owns 5,224 shares of the energy producer’s stock valued at $522,000 after acquiring an additional 1,657 shares during the period. Great Valley Advisor Group Inc. grew its stake in shares of ConocoPhillips by 76.7% during the first quarter. Great Valley Advisor Group Inc. now owns 27,710 shares of the energy producer’s stock worth $2,328,000 after purchasing an additional 12,028 shares during the period. Cetera Advisors LLC grew its stake in shares of ConocoPhillips by 63.9% during the first quarter. Cetera Advisors LLC now owns 42,067 shares of the energy producer’s stock worth $4,207,000 after purchasing an additional 16,396 shares during the period. First Republic Investment Management Inc. lifted its holdings in ConocoPhillips by 9.5% during the first quarter. First Republic Investment Management Inc. now owns 697,281 shares of the energy producer’s stock worth $69,728,000 after acquiring an additional 60,715 shares in the last quarter. Finally, AE Wealth Management LLC lifted its holdings in ConocoPhillips by 6.8% during the first quarter. AE Wealth Management LLC now owns 60,699 shares of the energy producer’s stock worth $6,070,000 after acquiring an additional 3,856 shares in the last quarter. 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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