ConocoPhillips (NYSE:COP) Price Target Lowered to $123.00 at The Goldman Sachs Group

ConocoPhillips (NYSE:COPGet Rating) had its target price decreased by The Goldman Sachs Group from $140.00 to $123.00 in a research note published on Wednesday morning, Marketbeat Ratings reports. The Goldman Sachs Group currently has a buy rating on the energy producer’s stock.

A number of other research analysts also recently commented on the stock. Wells Fargo & Company increased their price target on shares of ConocoPhillips from $114.00 to $130.00 and gave the company an overweight rating in a report on Friday, March 11th. Truist Financial raised their price objective on shares of ConocoPhillips from $115.00 to $130.00 in a research note on Thursday, April 21st. Morgan Stanley decreased their price objective on shares of ConocoPhillips from $120.00 to $118.00 and set an overweight rating for the company in a research note on Monday, June 6th. StockNews.com raised shares of ConocoPhillips from a hold rating to a buy rating in a research note on Saturday, May 14th. Finally, Societe Generale raised their price objective on shares of ConocoPhillips to $127.00 in a research note on Thursday, June 9th. Three equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $110.91.

Shares of NYSE:COP opened at $93.06 on Wednesday. The company has a current ratio of 1.51, a quick ratio of 1.41 and a debt-to-equity ratio of 0.36. ConocoPhillips has a 12 month low of $51.41 and a 12 month high of $124.08. The company has a 50-day moving average price of $105.05 and a 200 day moving average price of $94.20. The company has a market cap of $120.37 billion, a price-to-earnings ratio of 9.59, a PEG ratio of 0.33 and a beta of 1.34.

ConocoPhillips (NYSE:COPGet Rating) last announced its quarterly earnings results on Thursday, May 5th. The energy producer reported $3.27 EPS for the quarter, beating analysts’ consensus estimates of $3.24 by $0.03. ConocoPhillips had a net margin of 22.52% and a return on equity of 24.89%. The firm had revenue of $19.29 billion during the quarter, compared to the consensus estimate of $18.36 billion. During the same quarter last year, the firm earned $0.69 EPS. The firm’s revenue for the quarter was up 82.7% compared to the same quarter last year. As a group, equities analysts forecast that ConocoPhillips will post 15 EPS for the current year.

The firm also recently disclosed a dividend, which will be paid on Friday, July 15th. Investors of record on Tuesday, June 28th will be issued a dividend of $0.70 per share. This represents a yield of 3.21%. This is a positive change from ConocoPhillips’s previous dividend of $0.30. The ex-dividend date is Monday, June 27th. ConocoPhillips’s dividend payout ratio (DPR) is presently 18.97%.

In other ConocoPhillips news, Director Timothy A. Leach sold 40,603 shares of ConocoPhillips stock in a transaction on Thursday, May 19th. The shares were sold at an average price of $102.33, for a total value of $4,154,904.99. Following the transaction, the director now directly owns 666,002 shares of the company’s stock, valued at $68,151,984.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ryan Michael Lance sold 584,900 shares of ConocoPhillips stock in a transaction on Tuesday, June 7th. The stock was sold at an average price of $121.21, for a total transaction of $70,895,729.00. Following the completion of the transaction, the chief executive officer now directly owns 44,522 shares in the company, valued at $5,396,511.62. The disclosure for this sale can be found here. Over the last three months, insiders have sold 644,703 shares of company stock worth $77,172,426. 0.40% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. James Investment Research Inc. purchased a new position in ConocoPhillips in the first quarter worth $29,000. Fairfield Bush & CO. purchased a new position in ConocoPhillips in the first quarter worth $31,000. Versant Capital Management Inc grew its holdings in ConocoPhillips by 93.1% in the first quarter. Versant Capital Management Inc now owns 365 shares of the energy producer’s stock worth $37,000 after purchasing an additional 176 shares during the last quarter. Delos Wealth Advisors LLC lifted its stake in shares of ConocoPhillips by 1,300.0% during the fourth quarter. Delos Wealth Advisors LLC now owns 378 shares of the energy producer’s stock worth $27,000 after buying an additional 351 shares during the period. Finally, DeDora Capital Inc. acquired a new stake in shares of ConocoPhillips during the first quarter worth $39,000. 78.80% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Company Profile (Get Rating)

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. It primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.

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