ConocoPhillips (NYSE:COP) PT Lowered to $147.00

ConocoPhillips (NYSE:COP) had its target price lowered by Susquehanna from $154.00 to $147.00 in a research note published on Wednesday morning, Benzinga reports. The brokerage currently has a positive rating on the energy producer’s stock.

COP has been the subject of several other reports. Scotiabank reduced their target price on ConocoPhillips from $135.00 to $120.00 and set a sector perform rating for the company in a report on Friday, July 12th. StockNews.com downgraded ConocoPhillips from a buy rating to a hold rating in a research note on Wednesday, July 17th. Truist Financial lowered their target price on ConocoPhillips from $147.00 to $145.00 and set a buy rating on the stock in a research note on Friday, August 2nd. Royal Bank of Canada increased their price target on shares of ConocoPhillips from $135.00 to $140.00 and gave the company an outperform rating in a research report on Wednesday, May 15th. Finally, Wells Fargo & Company reduced their price objective on ConocoPhillips from $151.00 to $150.00 and set an overweight rating for the company in a report on Friday, August 2nd. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $143.24.

ConocoPhillips Trading Down 1.3 %

NYSE COP opened at $106.05 on Wednesday. The company has a current ratio of 1.33, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34. The business has a fifty day simple moving average of $111.20 and a 200 day simple moving average of $116.94. ConocoPhillips has a 12 month low of $102.27 and a 12 month high of $135.18. The firm has a market capitalization of $124.03 billion, a P/E ratio of 12.01, a PEG ratio of 0.85 and a beta of 1.22.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, beating the consensus estimate of $1.96 by $0.02. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The company had revenue of $14.14 billion during the quarter, compared to the consensus estimate of $14.96 billion. During the same quarter in the prior year, the company posted $1.84 earnings per share. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. On average, analysts predict that ConocoPhillips will post 8.5 EPS for the current fiscal year.

ConocoPhillips Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend was Monday, August 12th. ConocoPhillips’s dividend payout ratio is 26.27%.

Insider Transactions at ConocoPhillips

In related news, Director Timothy A. Leach sold 55,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total value of $6,000,105.00. Following the sale, the director now directly owns 455,909 shares of the company’s stock, valued at $49,288,321.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.34% of the stock is owned by insiders.

Hedge Funds Weigh In On ConocoPhillips

Institutional investors have recently made changes to their positions in the stock. Cooksen Wealth LLC purchased a new position in ConocoPhillips in the fourth quarter worth $27,000. Sachetta LLC bought a new position in shares of ConocoPhillips during the 4th quarter valued at about $27,000. Richardson Capital Management LLC purchased a new position in shares of ConocoPhillips during the 1st quarter valued at about $31,000. Cape Investment Advisory Inc. lifted its position in ConocoPhillips by 96.0% in the 4th quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock worth $29,000 after buying an additional 121 shares during the last quarter. Finally, Ruedi Wealth Management Inc. boosted its stake in ConocoPhillips by 150.0% in the first quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock worth $32,000 after buying an additional 150 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Company Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.