UBS Group Cuts ConocoPhillips (NYSE:COP) Price Target to $111.00

ConocoPhillips (NYSE:COP) had its target price trimmed by UBS Group from $116.00 to $111.00 in a research report sent to investors on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the energy producer’s stock.

Other research analysts also recently issued reports about the stock. Barclays decreased their target price on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Morgan Stanley lowered their target price on ConocoPhillips from $131.00 to $126.00 and set an “overweight” rating on the stock in a research note on Thursday, March 27th. Truist Financial lifted their price target on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Scotiabank lowered their price objective on ConocoPhillips from $115.00 to $95.00 and set a “sector perform” rating on the stock in a research report on Friday, April 11th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $128.32.

ConocoPhillips Stock Up 3.0 %

ConocoPhillips stock opened at $88.96 on Tuesday. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $130.77. The company has a market cap of $112.46 billion, a PE ratio of 11.42, a PEG ratio of 0.79 and a beta of 0.83. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29. The business’s 50-day simple moving average is $95.50 and its two-hundred day simple moving average is $101.58.

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

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were paid a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.12 annualized dividend and a yield of 3.51%. ConocoPhillips’s dividend payout ratio (DPR) is presently 40.05%.

Institutional Trading of ConocoPhillips

Several large investors have recently bought and sold shares of the business. Orrstown Financial Services Inc. boosted its holdings in ConocoPhillips by 3.0% in the 4th quarter. Orrstown Financial Services Inc. now owns 3,342 shares of the energy producer’s stock valued at $331,000 after purchasing an additional 96 shares during the last quarter. Principle Wealth Partners LLC increased its position in shares of ConocoPhillips by 0.3% during the 4th quarter. Principle Wealth Partners LLC now owns 37,255 shares of the energy producer’s stock worth $3,695,000 after purchasing an additional 100 shares during the last quarter. Arlington Trust Co LLC raised its holdings in ConocoPhillips by 1.2% in the 4th quarter. Arlington Trust Co LLC now owns 8,640 shares of the energy producer’s stock valued at $857,000 after buying an additional 102 shares during the period. Courier Capital LLC lifted its position in ConocoPhillips by 0.5% in the fourth quarter. Courier Capital LLC now owns 20,481 shares of the energy producer’s stock valued at $2,031,000 after buying an additional 103 shares during the last quarter. Finally, Gray Wealth Management Inc. boosted its stake in ConocoPhillips by 5.0% during the fourth quarter. Gray Wealth Management Inc. now owns 2,171 shares of the energy producer’s stock worth $215,000 after buying an additional 104 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

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.