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

ConocoPhillips (NYSE:COP) had its price objective raised by Susquehanna from $121.00 to $149.00 in a research report report published on Tuesday morning,MarketScreener reports. The firm currently has a positive rating on the energy producer’s stock.

A number of other analysts have also recently weighed in on the stock. BMO Capital Markets increased their price target on shares of ConocoPhillips from $130.00 to $140.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 7th. Morgan Stanley increased their price target on shares of ConocoPhillips from $108.00 to $149.00 and gave the stock an “overweight” rating in a research note on Friday, March 27th. Weiss Ratings reiterated a “hold (c-)” rating on shares of ConocoPhillips in a research note on Monday, December 29th. Argus increased their price target on shares of ConocoPhillips from $111.00 to $128.00 and gave the stock a “strong-buy” rating in a research note on Friday, February 13th. Finally, Piper Sandler increased their price target on shares of ConocoPhillips from $154.00 to $157.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 8th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, ConocoPhillips has a consensus rating of “Moderate Buy” and a consensus target price of $130.36.

ConocoPhillips Trading Up 3.3%

Shares of ConocoPhillips stock opened at $120.33 on Tuesday. The stock has a market cap of $146.67 billion, a price-to-earnings ratio of 18.98, a PEG ratio of 2.12 and a beta of 0.19. The company has a fifty day simple moving average of $120.31 and a 200-day simple moving average of $102.83. The company has a current ratio of 1.30, a quick ratio of 1.14 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 12-month low of $84.28 and a 12-month high of $135.87.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, February 5th. The energy producer reported $1.02 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.21). The business had revenue of $13.86 billion for the quarter, compared to analyst estimates of $14.35 billion. ConocoPhillips had a return on equity of 11.90% and a net margin of 12.98%.The firm’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.98 EPS. On average, equities analysts forecast that ConocoPhillips will post 7.77 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Wednesday, February 18th were given a dividend of $0.84 per share. The ex-dividend date was Wednesday, February 18th. This represents a $3.36 dividend on an annualized basis and a yield of 2.8%. ConocoPhillips’s dividend payout ratio is presently 53.00%.

Insider Activity at ConocoPhillips

In other ConocoPhillips news, CEO Ryan Michael Lance sold 506,800 shares of the company’s stock in a transaction on Friday, March 20th. The shares were sold at an average price of $127.26, for a total transaction of $64,495,368.00. Following the completion of the transaction, the chief executive officer owned 6,835 shares in the company, valued at approximately $869,822.10. This represents a 98.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Timothy A. Leach sold 40,000 shares of the company’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $118.79, for a total transaction of $4,751,600.00. Following the transaction, the director owned 411,211 shares of the company’s stock, valued at approximately $48,847,754.69. The trade was a 8.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 734,891 shares of company stock worth $93,345,692 in the last 90 days. Corporate insiders own 0.09% of the company’s stock.

Hedge Funds Weigh In On ConocoPhillips

Large investors have recently bought and sold shares of the company. AXA S.A. increased its holdings in shares of ConocoPhillips by 91.1% in the 2nd quarter. AXA S.A. now owns 84,937 shares of the energy producer’s stock valued at $7,622,000 after purchasing an additional 40,499 shares in the last quarter. Sei Investments Co. increased its holdings in shares of ConocoPhillips by 6.1% in the 2nd quarter. Sei Investments Co. now owns 784,368 shares of the energy producer’s stock valued at $70,397,000 after purchasing an additional 44,852 shares in the last quarter. BNP Paribas purchased a new position in shares of ConocoPhillips in the 2nd quarter valued at about $33,000. Osterweis Capital Management Inc. purchased a new position in shares of ConocoPhillips in the 2nd quarter valued at about $151,000. Finally, Main Street Financial Solutions LLC increased its holdings in shares of ConocoPhillips by 53.5% in the 2nd quarter. Main Street Financial Solutions LLC now owns 4,806 shares of the energy producer’s stock valued at $431,000 after purchasing an additional 1,675 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

About ConocoPhillips

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.