ConocoPhillips (NYSE:COP) Given Average Recommendation of “Moderate Buy” by Analysts

ConocoPhillips (NYSE:COP) has earned a consensus recommendation of “Moderate Buy” from the seventeen brokerages that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $121.33.

Several analysts recently commented on COP shares. Piper Sandler reissued an “overweight” rating and set a $123.00 target price (up from $113.00) on shares of ConocoPhillips in a research note on Tuesday, July 15th. Barclays reduced their price objective on ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. Susquehanna decreased their price target on ConocoPhillips from $114.00 to $113.00 and set a “positive” rating on the stock in a research report on Wednesday, July 23rd. UBS Group raised their target price on shares of ConocoPhillips from $111.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, July 11th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $119.00 price objective on shares of ConocoPhillips in a report on Tuesday, July 15th.

Insider Activity

In other ConocoPhillips news, EVP Kirk L. Johnson purchased 5,300 shares of the stock in a transaction dated Monday, June 16th. The shares were purchased at an average cost of $94.24 per share, with a total value of $499,472.00. Following the completion of the acquisition, the executive vice president directly owned 14,527 shares in the company, valued at $1,369,024.48. This trade represents a 57.44% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.24% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ConocoPhillips

Hedge funds and other institutional investors have recently modified their holdings of the company. 10Elms LLP bought a new position in ConocoPhillips in the 4th quarter worth $28,000. Bogart Wealth LLC raised its stake in shares of ConocoPhillips by 136.8% in the second quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock worth $28,000 after buying an additional 182 shares during the period. Activest Wealth Management raised its stake in shares of ConocoPhillips by 249.5% in the second quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock worth $29,000 after buying an additional 232 shares during the period. Financial Network Wealth Advisors LLC raised its stake in shares of ConocoPhillips by 341.5% in the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock worth $30,000 after buying an additional 222 shares during the period. Finally, Stone House Investment Management LLC bought a new position in shares of ConocoPhillips in the first quarter worth about $31,000. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Stock Performance

ConocoPhillips stock opened at $92.75 on Monday. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $116.08. The company has a current ratio of 1.27, a quick ratio of 1.13 and a debt-to-equity ratio of 0.36. The stock has a fifty day moving average price of $91.97 and a 200 day moving average price of $93.99. The firm has a market capitalization of $117.25 billion, a P/E ratio of 11.79, a PEG ratio of 2.41 and a beta of 0.67.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $15.74 billion. During the same quarter last year, the company earned $2.05 earnings per share. Equities research analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors 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 annualized dividend and a yield of 3.4%. ConocoPhillips’s dividend payout ratio is 39.64%.

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.