ConocoPhillips (NYSE:COP) Price Target Raised to $80.00 at Credit Suisse Group

ConocoPhillips (NYSE:COP) had its target price hoisted by Credit Suisse Group from $74.00 to $80.00 in a research note issued to investors on Tuesday morning, The Fly reports. They currently have an outperform rating on the energy producer’s stock.

COP has been the subject of several other research reports. Sanford C. Bernstein boosted their price target on shares of ConocoPhillips from $63.00 to $80.00 and gave the stock an outperform rating in a report on Monday, June 21st. Mizuho upped their price target on shares of ConocoPhillips from $82.00 to $86.00 and gave the stock a buy rating in a research report on Thursday, July 15th. Citigroup lifted their price objective on ConocoPhillips from $65.00 to $70.00 and gave the stock a buy rating in a report on Thursday, July 1st. Morgan Stanley reduced their target price on ConocoPhillips from $85.00 to $82.00 and set an overweight rating for the company in a report on Monday, August 23rd. Finally, Piper Sandler lifted their price target on ConocoPhillips from $69.00 to $80.00 and gave the stock an overweight rating in a research note on Friday, July 23rd. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Buy and an average price target of $71.95.

COP opened at $59.33 on Tuesday. The company has a fifty day moving average of $56.09 and a two-hundred day moving average of $56.13. The stock has a market capitalization of $79.45 billion, a price-to-earnings ratio of 51.15, a PEG ratio of 1.56 and a beta of 1.77. ConocoPhillips has a fifty-two week low of $27.53 and a fifty-two week high of $63.57. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.97 and a current ratio of 2.11.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Tuesday, August 3rd. The energy producer reported $1.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.17. ConocoPhillips had a return on equity of 5.64% and a net margin of 5.93%. The firm had revenue of $10.21 billion during the quarter, compared to analyst estimates of $10.44 billion. During the same quarter in the previous year, the business earned ($0.92) EPS. On average, equities research analysts forecast that ConocoPhillips will post 4.79 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 1st. Shareholders of record on Monday, July 26th were paid a dividend of $0.43 per share. The ex-dividend date of this dividend was Friday, July 23rd. This represents a $1.72 dividend on an annualized basis and a yield of 2.90%. ConocoPhillips’s dividend payout ratio (DPR) is presently -177.32%.

In other news, Director R A. Walker bought 18,000 shares of ConocoPhillips stock in a transaction that occurred on Monday, August 9th. The shares were purchased at an average price of $55.50 per share, with a total value of $999,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jody Freeman sold 3,334 shares of the stock in a transaction that occurred on Monday, June 28th. The shares were sold at an average price of $59.65, for a total transaction of $198,873.10. Following the completion of the sale, the director now directly owns 8,251 shares in the company, valued at $492,172.15. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of COP. Sigma Planning Corp increased its holdings in shares of ConocoPhillips by 11.8% in the 1st quarter. Sigma Planning Corp now owns 18,359 shares of the energy producer’s stock valued at $973,000 after acquiring an additional 1,931 shares during the last quarter. Prime Capital Investment Advisors LLC boosted its holdings in ConocoPhillips by 128.1% in the first quarter. Prime Capital Investment Advisors LLC now owns 739 shares of the energy producer’s stock valued at $39,000 after purchasing an additional 415 shares in the last quarter. Sowell Financial Services LLC increased its stake in ConocoPhillips by 6.0% in the first quarter. Sowell Financial Services LLC now owns 23,890 shares of the energy producer’s stock valued at $1,331,000 after purchasing an additional 1,345 shares during the last quarter. D.A. Davidson & CO. raised its holdings in ConocoPhillips by 14.4% during the first quarter. D.A. Davidson & CO. now owns 94,053 shares of the energy producer’s stock worth $4,982,000 after purchasing an additional 11,804 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its position in shares of ConocoPhillips by 9.5% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 218,774 shares of the energy producer’s stock worth $11,588,000 after buying an additional 19,002 shares during the last quarter. Institutional investors own 78.47% of the company’s stock.

ConocoPhillips Company Profile

ConocoPhillips engages in the exploration, production, transportation and marketing of crude oil, bitumen, natural gas, natural gas liquids, and liquefied natural gas on a worldwide basis. It operates through the following geographical segments: Alaska; Lower 48; Canada; Europe, Middle East and North Africa; Asia Pacific; and Other International.

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