Wolfe Research Issues Positive Forecast for ConocoPhillips (NYSE:COP) Stock Price

ConocoPhillips (NYSE:COP) had its price objective raised by Wolfe Research from $138.00 to $144.00 in a research report report published on Monday morning,MarketScreener reports. The brokerage currently has an outperform rating on the energy producer’s stock.

COP has been the subject of a number of other research reports. Truist Financial began coverage on ConocoPhillips in a report on Tuesday, March 24th. They issued a “hold” rating and a $124.00 target price for the company. JPMorgan Chase & Co. increased their price target on ConocoPhillips from $98.00 to $103.00 and gave the company a “neutral” rating in a research note on Friday, February 6th. Mizuho increased their price target on ConocoPhillips from $121.00 to $136.00 and gave the company an “outperform” rating in a research note on Tuesday, March 17th. BMO Capital Markets increased their price target on ConocoPhillips from $115.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday, March 3rd. Finally, Roth Mkm cut ConocoPhillips from a “buy” rating to a “neutral” rating and set a $112.00 price target for the company. in a research note on Tuesday, February 17th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $125.20.

ConocoPhillips Price Performance

Shares of COP opened at $131.59 on Monday. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $135.87. The business has a 50-day simple moving average of $116.59 and a two-hundred day simple moving average of $100.75. The company has a quick ratio of 1.14, a current ratio of 1.30 and a debt-to-equity ratio of 0.35. The stock has a market cap of $160.38 billion, a PE ratio of 20.75, a PEG ratio of 2.53 and a beta of 0.19.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, February 5th. The energy producer reported $1.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.21). ConocoPhillips had a return on equity of 11.90% and a net margin of 12.98%.The firm had revenue of $13.86 billion during the quarter, compared to analyst estimates of $14.35 billion. During the same period in the previous year, the company earned $1.98 EPS. ConocoPhillips’s revenue for the quarter was down 3.7% on a year-over-year basis. Analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Wednesday, February 18th were paid a $0.84 dividend. The ex-dividend date of this dividend was Wednesday, February 18th. This represents a $3.36 annualized dividend and a dividend yield of 2.6%. ConocoPhillips’s dividend payout ratio is presently 53.00%.

Insider Buying and Selling at ConocoPhillips

In related news, EVP Nicholas G. Olds sold 6,994 shares of the firm’s stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $127.06, for a total transaction of $888,657.64. Following the completion of the sale, the executive vice president owned 5,395 shares of the company’s stock, valued at $685,488.70. This trade represents a 56.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Ryan Michael Lance sold 113,221 shares of the firm’s stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $132.71, for a total value of $15,025,558.91. Following the sale, the chief executive officer directly owned 350,000 shares of the company’s stock, valued at $46,448,500. This represents a 24.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 734,891 shares of company stock valued at $93,345,692 over the last ninety days. Insiders own 0.24% of the company’s stock.

Institutional Investors Weigh In On ConocoPhillips

Several large investors have recently added to or reduced their stakes in COP. Howard Hughes Medical Institute acquired a new stake in ConocoPhillips during the second quarter worth approximately $25,000. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in ConocoPhillips during the fourth quarter worth approximately $25,000. Cloud Capital Management LLC acquired a new stake in ConocoPhillips during the third quarter worth approximately $26,000. KERR FINANCIAL PLANNING Corp acquired a new stake in ConocoPhillips during the third quarter worth approximately $28,000. Finally, Board of the Pension Protection Fund acquired a new stake in ConocoPhillips during the fourth quarter worth approximately $28,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

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.