ConocoPhillips (NYSE:COP) Price Target Raised to $128.00 at Barclays

ConocoPhillips (NYSE:COP) had its price target hoisted by Barclays from $118.00 to $128.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an overweight rating on the energy producer’s stock.

Several other analysts also recently issued reports on the stock. Wells Fargo & Company upped their price target on shares of ConocoPhillips from $132.00 to $133.00 and gave the company an “overweight” rating in a report on Friday, February 6th. Weiss Ratings reissued a “hold (c-)” rating on shares of ConocoPhillips in a research note on Monday, December 29th. Piper Sandler lifted their price objective on ConocoPhillips from $111.00 to $154.00 and gave the stock an “overweight” rating in a research report on Thursday, March 12th. Morgan Stanley reduced their target price on ConocoPhillips from $117.00 to $108.00 and set an “overweight” rating on the stock in a research note on Friday, January 23rd. Finally, Argus increased their target price on ConocoPhillips from $111.00 to $128.00 and gave the company a “strong-buy” rating in a report on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $119.75.

ConocoPhillips Trading Down 0.4%

NYSE:COP opened at $121.37 on Monday. The company has a market capitalization of $149.98 billion, a PE ratio of 19.14, a price-to-earnings-growth ratio of 2.89 and a beta of 0.27. The company has a quick ratio of 1.14, a current ratio of 1.30 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $122.50. The stock has a fifty day simple moving average of $107.06 and a 200-day simple moving average of $97.09.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, February 5th. The energy producer reported $1.02 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.21). ConocoPhillips had a return on equity of 11.90% and a net margin of 12.98%.The business had revenue of $13.86 billion during the quarter, compared to analysts’ expectations of $14.35 billion. During the same quarter in the prior year, the firm earned $1.98 earnings per share. ConocoPhillips’s quarterly revenue was down 3.7% on a year-over-year basis. On average, equities research analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

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

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, EVP Nicholas G. Olds sold 14,522 shares of the business’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $119.36, for a total value of $1,733,345.92. Following the completion of the transaction, the executive vice president directly owned 12,389 shares in the company, valued at approximately $1,478,751.04. The trade was a 53.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Timothy A. Leach sold 40,000 shares of the stock in a transaction on Friday, March 6th. The stock was sold at an average price of $118.79, for a total value of $4,751,600.00. Following the transaction, the director directly owned 411,211 shares in the company, valued at approximately $48,847,754.69. This represents a 8.87% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 600,884 shares of company stock valued at $58,250,367. 0.24% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ConocoPhillips

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Howard Hughes Medical Institute purchased a new stake in ConocoPhillips in the 2nd quarter valued at about $25,000. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in shares of ConocoPhillips during the 4th quarter worth about $25,000. Cloud Capital Management LLC purchased a new position in shares of ConocoPhillips during the 3rd quarter worth about $26,000. KERR FINANCIAL PLANNING Corp acquired a new stake in shares of ConocoPhillips in the third quarter worth approximately $28,000. Finally, Board of the Pension Protection Fund purchased a new stake in ConocoPhillips in the fourth quarter valued at approximately $28,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Key ConocoPhillips News

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Barclays raised its price target to $128 and maintained an “overweight” rating, giving explicit analyst support and upside to the stock. This upgrade is a near-term bullish catalyst. Read More.
• Positive Sentiment: Piper Sandler bumped its COP price target to $154 (from $111), a much more aggressive bullish view that can underpin buying interest from institutional investors. Read More.
• Positive Sentiment: Industry commentary: U.S. oil CEOs (including ConocoPhillips’ peers) warned officials the Iran-related energy crisis could worsen — a development that typically supports higher oil prices and benefits oil producers’ earnings and cash flow. Read More.
• Neutral Sentiment: Market chatter flagged executive caution about ongoing volatility in energy markets; this underscores uncertainty (volatility can lift oil-company revenues but also increase stock-price swings). Read More.
• Negative Sentiment: Large insider sales: EVP Nicholas Olds sold 14,522 shares (~53.96% reduction of his holding) at ~$119.36 — a material, disclosed sale that can pressure the stock and prompt investor questions about timing. Read More.
• Negative Sentiment: Senior VP Andrew Lundquist sold 34,500 shares (a ~66% reduction) at ~$119.68 — another sizable executive sale that likely amplified selling sentiment today. Read More.
• Negative Sentiment: Senior VP Heather Hrap sold 2,654 shares (~31.9% reduction) at ~$119.68 — adds to the pattern of senior-level profit-taking disclosed this week. 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.