Raymond James Boosts ConocoPhillips (NYSE:COP) Price Target to $90.00

ConocoPhillips (NYSE:COP) had its target price lifted by Raymond James from $80.00 to $90.00 in a research report released on Friday morning, The Fly reports. They currently have a strong-buy rating on the energy producer’s stock.

Other research analysts also recently issued reports about the company. Citigroup boosted their price target on ConocoPhillips from $65.00 to $70.00 and gave the company a buy rating in a report on Thursday, July 1st. Truist boosted their price target on ConocoPhillips from $78.00 to $84.00 and gave the company a buy rating in a report on Tuesday. Sanford C. Bernstein boosted their price target on ConocoPhillips from $63.00 to $80.00 and gave the company an outperform rating in a report on Monday, June 21st. Royal Bank of Canada upped their price objective on ConocoPhillips from $73.00 to $75.00 and gave the stock an outperform rating in a report on Thursday, July 1st. Finally, Evercore ISI upped their price objective on ConocoPhillips from $68.00 to $72.00 and gave the stock an outperform rating in a report on Monday, June 28th. Two investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Buy and a consensus price target of $72.43.

Shares of ConocoPhillips stock opened at $65.02 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.11 and a quick ratio of 1.97. ConocoPhillips has a 1 year low of $27.53 and a 1 year high of $65.70. The company has a market capitalization of $87.07 billion, a P/E ratio of 56.05, a P/E/G ratio of 1.56 and a beta of 1.77. The business has a 50 day moving average price of $56.51 and a 200 day moving average price of $56.27.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Tuesday, August 3rd. The energy producer reported $1.27 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $10.44 billion. During the same period in the previous year, the firm posted ($0.92) EPS. As a group, research analysts expect that ConocoPhillips will post 4.79 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 1st. Shareholders of record on Thursday, October 28th will be given a $0.46 dividend. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.43. This represents a $1.84 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date is Wednesday, October 27th. ConocoPhillips’s dividend payout ratio is presently -177.32%.

In other news, Director Jody Freeman sold 3,334 shares of the company’s stock in a transaction dated Monday, June 28th. The shares were sold at an average price of $59.65, for a total value of $198,873.10. Following the sale, the director now owns 8,251 shares in the company, valued at approximately $492,172.15. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director R A. Walker bought 18,000 shares of the business’s stock in a transaction dated Monday, August 9th. The stock was bought at an average price of $55.50 per share, for a total transaction of $999,000.00. The disclosure for this purchase can be found here. Corporate insiders own 0.08% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Joseph P. Lucia & Associates LLC acquired a new stake in shares of ConocoPhillips in the second quarter valued at approximately $30,000. Anfield Capital Management LLC acquired a new stake in shares of ConocoPhillips in the second quarter valued at approximately $32,000. Harbour Investments Inc. acquired a new stake in shares of ConocoPhillips in the first quarter valued at approximately $30,000. Independence Bank of Kentucky increased its stake in shares of ConocoPhillips by 65.2% in the second quarter. Independence Bank of Kentucky now owns 570 shares of the energy producer’s stock valued at $35,000 after purchasing an additional 225 shares during the period. Finally, SRS Capital Advisors Inc. acquired a new stake in shares of ConocoPhillips in the second quarter valued at approximately $38,000. Hedge funds and other 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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