ConocoPhillips (NYSE:COP) Price Target Lowered to $130.00 at Wolfe Research

ConocoPhillips (NYSE:COP) had its target price trimmed by Wolfe Research from $137.00 to $130.00 in a research note published on Monday morning,MarketScreener reports. The firm currently has an outperform rating on the energy producer’s stock.

COP has been the topic of several other research reports. Scotiabank upped their price objective on ConocoPhillips from $95.00 to $100.00 and gave the company a “sector perform” rating in a research note on Friday, July 11th. JPMorgan Chase & Co. upped their price objective on ConocoPhillips from $114.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, October 9th. Wall Street Zen downgraded ConocoPhillips from a “hold” rating to a “sell” rating in a research report on Saturday. Jefferies Financial Group decreased their target price on ConocoPhillips from $129.00 to $120.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. Finally, Raymond James Financial decreased their target price on ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating on the stock in a research report on Monday, September 8th. Eighteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and a consensus price target of $115.63.

ConocoPhillips Price Performance

NYSE:COP opened at $87.01 on Monday. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. The stock’s 50 day moving average price is $93.91 and its two-hundred day moving average price is $91.92. The firm has a market capitalization of $108.67 billion, a price-to-earnings ratio of 11.68, a P/E/G ratio of 2.29 and a beta of 0.62. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $115.38.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) 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 analyst estimates of $14.39 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.98 earnings per share. On average, analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a $3.12 dividend on an annualized basis and a yield of 3.6%. ConocoPhillips’s dividend payout ratio is currently 41.88%.

Institutional Investors Weigh In On ConocoPhillips

Large investors have recently added to or reduced their stakes in the stock. Howard Hughes Medical Institute acquired a new stake in ConocoPhillips during the second quarter worth approximately $25,000. Financial Network Wealth Advisors LLC grew its position in ConocoPhillips by 341.5% during 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 in the last quarter. Stone House Investment Management LLC acquired a new stake in ConocoPhillips during the first quarter worth approximately $31,000. Bogart Wealth LLC grew its position in ConocoPhillips by 136.8% during 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 in the last quarter. Finally, Activest Wealth Management grew its position in ConocoPhillips by 249.5% during 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 in the last quarter. Institutional investors and hedge funds 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.