ConocoPhillips (NYSE:COP) Price Target Lowered to $160.00 at Truist Financial

ConocoPhillips (NYSE:COP) had its target price decreased by Truist Financial from $170.00 to $160.00 in a research report sent to investors on Monday, Benzinga reports. Truist Financial currently has a buy rating on the energy producer’s stock.

Other analysts have also issued reports about the company. Wells Fargo & Company lifted their price target on ConocoPhillips from $141.00 to $149.00 and gave the stock an overweight rating in a research note on Wednesday, April 10th. Susquehanna upped their target price on shares of ConocoPhillips from $133.00 to $154.00 and gave the stock a positive rating in a report on Monday, April 22nd. UBS Group raised their price target on shares of ConocoPhillips from $138.00 to $143.00 and gave the stock a buy rating in a research note on Wednesday, February 14th. Raymond James dropped their price objective on shares of ConocoPhillips from $140.00 to $137.00 and set a strong-buy rating for the company in a research note on Wednesday, January 24th. Finally, Morgan Stanley raised their target price on shares of ConocoPhillips from $123.00 to $129.00 and gave the stock an overweight rating in a research note on Thursday, March 28th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $142.65.

ConocoPhillips Price Performance

Shares of COP opened at $130.22 on Monday. The business’s 50-day moving average is $122.88 and its two-hundred day moving average is $117.67. The company has a market capitalization of $153.19 billion, a P/E ratio of 14.37, a P/E/G ratio of 2.72 and a beta of 1.24. ConocoPhillips has a fifty-two week low of $95.70 and a fifty-two week high of $135.18. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.29 and a current ratio of 1.43.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.32. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. The company had revenue of $15.31 billion during the quarter, compared to analysts’ expectations of $14.47 billion. During the same period last year, the business earned $2.71 earnings per share. Research analysts predict that ConocoPhillips will post 9.57 earnings per share for the current year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Monday, February 19th were paid a $0.78 dividend. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend was Thursday, February 15th. ConocoPhillips’s dividend payout ratio (DPR) is presently 25.61%.

Insiders Place Their Bets

In related news, VP Christopher P. Delk sold 8,505 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total value of $953,070.30. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, VP Christopher P. Delk sold 8,505 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total value of $953,070.30. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ryan Michael Lance sold 607,000 shares of the stock in a transaction on 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 completion of the transaction, the chief executive officer now directly 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 a total of 700,775 shares of company stock worth $87,615,169 in the last quarter. 0.34% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Sloy Dahl & Holst LLC increased its position in shares of ConocoPhillips by 3.3% in the third quarter. Sloy Dahl & Holst LLC now owns 2,629 shares of the energy producer’s stock worth $315,000 after acquiring an additional 85 shares in the last quarter. Astoria Portfolio Advisors LLC. lifted its stake in shares of ConocoPhillips by 4.0% during the first quarter. Astoria Portfolio Advisors LLC. now owns 2,232 shares of the energy producer’s stock worth $291,000 after purchasing an additional 85 shares in the last quarter. KLCM Advisors Inc. boosted its position in shares of ConocoPhillips by 2.8% in the third quarter. KLCM Advisors Inc. now owns 3,305 shares of the energy producer’s stock worth $396,000 after buying an additional 89 shares during the period. Evergreen Capital Management LLC boosted its position in shares of ConocoPhillips by 0.5% in the third quarter. Evergreen Capital Management LLC now owns 18,944 shares of the energy producer’s stock worth $2,270,000 after buying an additional 89 shares during the period. Finally, Endowment Wealth Management Inc. lifted its position in ConocoPhillips by 4.6% during the 3rd quarter. Endowment Wealth Management Inc. now owns 2,055 shares of the energy producer’s stock worth $246,000 after acquiring an additional 90 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

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.