ConocoPhillips (NYSE:COP) Price Target Increased to $129.00 by Analysts at Morgan Stanley

ConocoPhillips (NYSE:COP) had its price objective lifted by Morgan Stanley from $123.00 to $129.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have an overweight rating on the energy producer’s stock.

A number of other brokerages have also weighed in on COP. Scotiabank boosted their price objective on shares of ConocoPhillips from $115.00 to $120.00 and gave the stock a sector perform rating in a report on Friday, February 9th. Susquehanna decreased their target price on shares of ConocoPhillips from $152.00 to $133.00 and set a positive rating on the stock in a research note on Friday, January 26th. Mizuho reaffirmed a neutral rating and issued a $139.00 target price (up from $132.00) on shares of ConocoPhillips in a research note on Friday, March 22nd. Johnson Rice downgraded shares of ConocoPhillips from an accumulate rating to a hold rating in a research note on Thursday, December 14th. Finally, Piper Sandler decreased their target price on shares of ConocoPhillips from $139.00 to $133.00 and set an overweight rating on the stock in a research note on Thursday, March 14th. Six research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $135.35.

ConocoPhillips Trading Up 0.3 %

Shares of ConocoPhillips stock opened at $127.28 on Thursday. ConocoPhillips has a 1 year low of $95.70 and a 1 year high of $128.64. The firm has a market cap of $149.73 billion, a PE ratio of 14.05, a PEG ratio of 2.88 and a beta of 1.23. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.43 and a quick ratio of 1.29. The company has a 50 day simple moving average of $113.87 and a two-hundred day simple moving average of $116.08.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.32. The business had revenue of $15.31 billion during the quarter, compared to analyst estimates of $14.47 billion. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. During the same period in the previous year, the business posted $2.71 earnings per share. Analysts expect that ConocoPhillips will post 8.79 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Monday, February 19th were given a $0.78 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.45%. ConocoPhillips’s dividend payout ratio is currently 25.61%.

Insider Transactions at ConocoPhillips

In other news, CEO Ryan Michael Lance sold 607,000 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $125.91, for a total value of $76,427,370.00. Following the sale, the chief executive officer now directly owns 6,780 shares of the company’s stock, valued at approximately $853,669.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO William L. Jr. Bullock sold 45,200 shares of the company’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $123.32, for a total value of $5,574,064.00. Following the transaction, the chief financial officer now owns 44,153 shares in the company, valued at approximately $5,444,947.96. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Ryan Michael Lance sold 607,000 shares of the company’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $125.91, for a total transaction of $76,427,370.00. Following the completion of the transaction, the chief executive officer now owns 6,780 shares in the company, valued at approximately $853,669.80. The disclosure for this sale can be found here. Insiders have sold 700,775 shares of company stock valued at $87,615,169 in the last three months. 0.37% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ConocoPhillips

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. West Tower Group LLC bought a new position in shares of ConocoPhillips in the 2nd quarter worth approximately $27,000. Orion Capital Management LLC bought a new position in shares of ConocoPhillips in the 3rd quarter worth approximately $27,000. West Branch Capital LLC lifted its stake in shares of ConocoPhillips by 87.8% in the 4th quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock worth $27,000 after purchasing an additional 108 shares during the period. Sachetta LLC bought a new position in shares of ConocoPhillips in the 4th quarter worth approximately $27,000. Finally, Cooksen Wealth LLC bought a new position in shares of ConocoPhillips in the 4th quarter worth approximately $27,000. Institutional investors own 82.36% of the company’s stock.

About ConocoPhillips

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.