ConocoPhillips (NYSE:COP) Given New $120.00 Price Target at Jefferies Financial Group

ConocoPhillips (NYSE:COP) had its target price lowered by Jefferies Financial Group from $129.00 to $120.00 in a report published on Monday morning, MarketBeat reports. The brokerage currently has a buy rating on the energy producer’s stock.

Other equities analysts have also recently issued reports about the company. Roth Capital reissued a “buy” rating on shares of ConocoPhillips in a report on Wednesday, September 3rd. Barclays decreased their target price on ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating on the stock in a report on Tuesday, October 7th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of ConocoPhillips in a report on Wednesday, October 8th. Morgan Stanley reaffirmed an “overweight” rating and issued a $123.00 target price (up from $119.00) on shares of ConocoPhillips in a report on Sunday, August 10th. Finally, Piper Sandler raised their target price on ConocoPhillips from $123.00 to $124.00 and gave the stock an “overweight” rating in a report on Monday, August 18th. Seventeen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and an average target price of $117.65.

ConocoPhillips Price Performance

NYSE COP opened at $88.77 on Monday. The business’s fifty day moving average price is $94.52 and its 200-day moving average price is $92.35. The stock has a market capitalization of $110.87 billion, a price-to-earnings ratio of 11.92, a PEG ratio of 2.33 and a beta of 0.62. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $115.38.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.06. The firm had revenue of $14.94 billion for the quarter, compared to analysts’ expectations of $14.39 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The company’s revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.98 EPS. On average, equities analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date was Monday, August 18th. ConocoPhillips’s dividend payout ratio is presently 41.88%.

Institutional Investors Weigh In On ConocoPhillips

Institutional investors have recently bought and sold shares of the business. Howard Hughes Medical Institute purchased a new stake in ConocoPhillips in the 2nd quarter worth $25,000. Financial Network Wealth Advisors LLC increased its stake in ConocoPhillips by 341.5% in the 1st 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 in the last quarter. Stone House Investment Management LLC purchased a new stake in ConocoPhillips in the 1st quarter worth $31,000. Bogart Wealth LLC increased its stake in ConocoPhillips by 136.8% in the 2nd quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock worth $28,000 after buying an additional 182 shares in the last quarter. Finally, Activest Wealth Management increased its stake in ConocoPhillips by 249.5% in the 2nd quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock worth $29,000 after buying an additional 232 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Company Profile

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.