ConocoPhillips (NYSE:COP) Price Target Raised to $156.00 at Wells Fargo & Company

ConocoPhillips (NYSE:COPGet Rating) had its target price boosted by Wells Fargo & Company from $154.00 to $156.00 in a research report released on Tuesday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the energy producer’s stock.

Other analysts have also recently issued research reports about the company. Erste Group Bank raised ConocoPhillips from a hold rating to a buy rating in a research report on Wednesday, October 5th. Credit Suisse Group lifted their price objective on ConocoPhillips from $134.00 to $145.00 and gave the company an outperform rating in a research note on Friday, November 4th. Piper Sandler lifted their price objective on ConocoPhillips from $155.00 to $157.00 and gave the company an overweight rating in a research note on Monday, December 19th. Barclays lifted their price objective on ConocoPhillips from $135.00 to $151.00 and gave the company an overweight rating in a research note on Wednesday, December 7th. Finally, Mizuho reiterated a buy rating and set a $151.00 price objective (up previously from $135.00) on shares of ConocoPhillips in a research note on Tuesday. One research analyst has rated the stock with a sell rating, two have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, ConocoPhillips has an average rating of Moderate Buy and a consensus price target of $135.57.

ConocoPhillips Stock Performance

Shares of COP opened at $118.08 on Tuesday. The stock has a 50-day moving average of $121.25 and a two-hundred day moving average of $110.35. ConocoPhillips has a one year low of $78.30 and a one year high of $138.49. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.37 and a current ratio of 1.46. The stock has a market cap of $147.14 billion, a P/E ratio of 8.51, a P/E/G ratio of 0.48 and a beta of 1.29.

ConocoPhillips (NYSE:COPGet Rating) last issued its quarterly earnings results on Thursday, November 3rd. The energy producer reported $3.60 EPS for the quarter, topping analysts’ consensus estimates of $3.41 by $0.19. ConocoPhillips had a return on equity of 35.02% and a net margin of 22.90%. The company had revenue of $21.61 billion during the quarter, compared to analysts’ expectations of $17.05 billion. As a group, research analysts predict that ConocoPhillips will post 14.05 EPS for the current year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 13th. Shareholders of record on Tuesday, December 27th will be paid a dividend of $0.51 per share. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.46. This represents a $2.04 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend is Friday, December 23rd. ConocoPhillips’s payout ratio is 14.70%.

Insiders Place Their Bets

In other ConocoPhillips news, EVP Nicholas G. Olds sold 10,950 shares of the business’s stock in a transaction that occurred on Tuesday, November 8th. The stock was sold at an average price of $134.90, for a total transaction of $1,477,155.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other ConocoPhillips news, EVP Nicholas G. Olds sold 10,950 shares of the business’s stock in a transaction that occurred on Tuesday, November 8th. The stock was sold at an average price of $134.90, for a total transaction of $1,477,155.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Timothy A. Leach sold 4,860 shares of the business’s stock in a transaction that occurred on Thursday, December 15th. The stock was sold at an average price of $112.58, for a total value of $547,138.80. Following the transaction, the director now owns 661,142 shares in the company, valued at $74,431,366.36. The disclosure for this sale can be found here. 0.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Delos Wealth Advisors LLC boosted its holdings in shares of ConocoPhillips by 102.0% during the 3rd quarter. Delos Wealth Advisors LLC now owns 297 shares of the energy producer’s stock worth $30,000 after purchasing an additional 150 shares during the last quarter. Center for Financial Planning Inc. lifted its holdings in ConocoPhillips by 146.0% in the third quarter. Center for Financial Planning Inc. now owns 305 shares of the energy producer’s stock valued at $31,000 after acquiring an additional 181 shares during the last quarter. Activest Wealth Management lifted its holdings in ConocoPhillips by 30,200.0% in the third quarter. Activest Wealth Management now owns 303 shares of the energy producer’s stock valued at $31,000 after acquiring an additional 302 shares during the last quarter. Fairfield Bush & CO. acquired a new position in ConocoPhillips in the first quarter valued at approximately $31,000. Finally, Semmax Financial Advisors Inc. acquired a new position in ConocoPhillips in the third quarter valued at approximately $33,000. 81.76% of the stock is currently owned by institutional investors and hedge funds.

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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