Analysts Set ConocoPhillips (NYSE:COP) Price Target at $79.43

ConocoPhillips (NYSE:COP) has been given a consensus rating of “Buy” by the twenty-five ratings firms that are covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation, fourteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $83.26.

Several research firms have recently commented on COP. Societe Generale cut ConocoPhillips from a “buy” rating to a “hold” rating and set a $77.00 target price for the company. in a research note on Wednesday, November 10th. Scotiabank reissued a “sector perform” rating and set a $90.00 price objective on shares of ConocoPhillips in a report on Thursday. The Goldman Sachs Group lowered shares of ConocoPhillips from a “buy” rating to a “neutral” rating and set a $76.00 target price on the stock. in a research note on Monday, October 11th. Wells Fargo & Company lifted their target price on ConocoPhillips from $82.00 to $84.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 3rd. Finally, Truist Securities upped their price target on ConocoPhillips from $100.00 to $111.00 in a research report on Friday.

ConocoPhillips stock opened at $86.74 on Wednesday. The firm has a fifty day moving average of $73.82 and a 200-day moving average of $66.28. ConocoPhillips has a 52-week low of $39.70 and a 52-week high of $86.87. The company has a quick ratio of 1.83, a current ratio of 1.93 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $114.41 billion, a P/E ratio of 25.82, a PEG ratio of 0.66 and a beta of 1.61.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Tuesday, November 2nd. The energy producer reported $1.77 EPS for the quarter, beating the consensus estimate of $1.53 by $0.24. ConocoPhillips had a return on equity of 11.87% and a net margin of 12.18%. The company had revenue of $11.62 billion for the quarter, compared to analyst estimates of $11.34 billion. During the same period last year, the company posted ($0.31) earnings per share. On average, research analysts expect that ConocoPhillips will post 5.89 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, January 14th. Stockholders of record on Monday, January 3rd were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend was Friday, December 31st. ConocoPhillips’s dividend payout ratio (DPR) is presently 58.04%.

In other news, SVP Ellen Desanctis sold 28,171 shares of the firm’s stock in a transaction dated Thursday, December 9th. The stock was sold at an average price of $73.26, for a total transaction of $2,063,807.46. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Nicholas G. Olds sold 9,200 shares of the firm’s stock in a transaction dated Thursday, November 4th. The stock was sold at an average price of $74.64, for a total value of $686,688.00. The disclosure for this sale can be found here. Insiders have sold 145,889 shares of company stock worth $10,680,170 in the last ninety days. 0.08% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in COP. Bell Investment Advisors Inc bought a new position in shares of ConocoPhillips during the third quarter worth about $26,000. Canton Hathaway LLC bought a new position in shares of ConocoPhillips during the third quarter worth about $26,000. Newbridge Financial Services Group Inc. bought a new position in shares of ConocoPhillips during the third quarter worth about $27,000. America First Investment Advisors LLC bought a new position in shares of ConocoPhillips during the third quarter worth about $34,000. Finally, Tower View Investment Management & Research LLC bought a new position in ConocoPhillips in the third quarter valued at approximately $34,000. 78.94% of the stock is currently owned by institutional investors.

About ConocoPhillips

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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Analyst Recommendations for ConocoPhillips (NYSE:COP)

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