ConocoPhillips (NYSE:COP) Given New $123.00 Price Target at Wolfe Research

ConocoPhillips (NYSE:COP) had its price target increased by Wolfe Research from $122.00 to $123.00 in a research report report published on Monday morning,MarketScreener reports. Wolfe Research currently has an outperform rating on the energy producer’s stock.

Several other equities analysts have also weighed in on COP. Bank of America reissued an “underperform” rating and issued a $102.00 target price on shares of ConocoPhillips in a research note on Friday, January 16th. Piper Sandler cut their price target on shares of ConocoPhillips from $115.00 to $109.00 and set an “overweight” rating on the stock in a research report on Thursday, January 8th. UBS Group lifted their price objective on shares of ConocoPhillips from $117.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. Evercore ISI lowered their target price on shares of ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating for the company in a research note on Monday, October 6th. Finally, BMO Capital Markets cut their target price on shares of ConocoPhillips from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Monday, December 15th. Sixteen research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $110.96.

ConocoPhillips Price Performance

Shares of COP stock opened at $98.50 on Monday. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $106.20. The stock has a market cap of $121.71 billion, a PE ratio of 13.93, a PEG ratio of 2.91 and a beta of 0.32. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.18 and a current ratio of 1.32. The firm’s 50 day moving average price is $93.59 and its two-hundred day moving average price is $93.03.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, November 6th. The energy producer reported $1.61 EPS for the quarter, beating the consensus estimate of $1.41 by $0.20. ConocoPhillips had a net margin of 14.25% and a return on equity of 13.64%. The company had revenue of $15.03 billion during the quarter, compared to analysts’ expectations of $14.51 billion. During the same quarter in the previous year, the company posted $1.78 EPS. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. As a group, analysts forecast that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Monday, November 17th were given a $0.84 dividend. The ex-dividend date of this dividend was Monday, November 17th. This represents a $3.36 dividend on an annualized basis and a yield of 3.4%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.78. ConocoPhillips’s payout ratio is 47.52%.

Insider Activity at ConocoPhillips

In other news, CEO Ryan Michael Lance sold 500,708 shares of the business’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $92.50, for a total value of $46,315,490.00. Following the sale, the chief executive officer owned 325,972 shares of the company’s stock, valued at $30,152,410. The trade was a 60.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director William H. Mcraven bought 5,768 shares of ConocoPhillips stock in a transaction that occurred on Monday, November 10th. The shares were acquired at an average price of $86.68 per share, with a total value of $499,970.24. Following the acquisition, the director directly owned 5,768 shares of the company’s stock, valued at $499,970.24. The trade was a ∞ increase in their position. The SEC filing for this purchase provides additional information. Insiders own 0.24% of the company’s stock.

Hedge Funds Weigh In On ConocoPhillips

A number of large investors have recently modified their holdings of COP. Howard Hughes Medical Institute bought a new stake in ConocoPhillips during the second quarter worth about $25,000. Cloud Capital Management LLC bought a new stake in shares of ConocoPhillips during the 3rd quarter worth approximately $26,000. Bogart Wealth LLC boosted its holdings in shares of ConocoPhillips by 136.8% in the 2nd quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock valued at $28,000 after buying an additional 182 shares during the last quarter. KERR FINANCIAL PLANNING Corp bought a new position in shares of ConocoPhillips in the third quarter valued at $28,000. Finally, Board of the Pension Protection Fund acquired a new position in ConocoPhillips during the fourth quarter worth $28,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting ConocoPhillips

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Libya deal: ConocoPhillips is part of a reported >$20 billion energy/oil agreement with Libya alongside TotalEnergies, giving COP potential long‑term production and revenue upside from a large, regional development opportunity (but note country/political risk). Read More.
• Positive Sentiment: Analyst upgrades and higher targets: Wolfe Research raised its price target to $123 and kept an “outperform” rating, signaling increased upside expectations from the sell‑side. Read More.
• Positive Sentiment: Other analyst sentiment: Consensus views remain constructive (moderate buy) and at least one outlet reports a price‑target raise to $105, supporting the bullish narrative and investor confidence in near‑to‑medium term upside. Read More. Read More.
• Neutral Sentiment: Company statement re: Alaska operations: ConocoPhillips says a planned drilling project in Alaska will be unaffected by the nearby rig collapse, which should limit immediate operational or capital‑expenditure impacts if accurate. Read More.
• Neutral Sentiment: Investor commentary: Recent pieces (e.g., Seeking Alpha) argue there’s future appreciation potential — useful for sentiment but not a direct catalyst. Read More.
• Negative Sentiment: North Slope rig collapse: A massive Alaska rig that toppled near Nuiqsut remains unstable, creating potential environmental, regulatory, cleanup‑cost and reputational risks for regional operators and contractors; this raises near‑term downside risk for Alaska operations and could draw regulatory scrutiny. Read More.

ConocoPhillips Company Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.