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

ConocoPhillips (NYSE:COP) had its price objective trimmed by Truist Financial from $170.00 to $160.00 in a report published on Monday, Benzinga reports. The firm currently has a buy rating on the energy producer’s stock.

COP has been the subject of a number of other reports. Raymond James cut their target price on ConocoPhillips from $140.00 to $137.00 and set a strong-buy rating for the company in a research report on Wednesday, January 24th. Scotiabank upped their price objective on shares of ConocoPhillips from $120.00 to $135.00 and gave the stock a sector perform rating in a research report on Thursday, April 11th. Susquehanna raised their target price on shares of ConocoPhillips from $133.00 to $154.00 and gave the company a positive rating in a report on Monday, April 22nd. Mizuho restated a neutral rating and issued a $139.00 target price (up from $132.00) on shares of ConocoPhillips in a research report on Friday, March 22nd. Finally, Piper Sandler increased their price target on shares of ConocoPhillips from $145.00 to $157.00 and gave the stock an overweight rating in a research report on Thursday, April 18th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, ConocoPhillips has an average rating of Moderate Buy and an average price target of $142.65.

ConocoPhillips Price Performance

Shares of ConocoPhillips stock opened at $124.36 on Monday. The company has a quick ratio of 1.29, a current ratio of 1.43 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $146.30 billion, a price-to-earnings ratio of 13.73, a price-to-earnings-growth ratio of 2.72 and a beta of 1.24. ConocoPhillips has a twelve month low of $95.70 and a twelve month high of $135.18. The company has a 50-day simple moving average of $123.43 and a two-hundred day simple moving average of $117.72.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.32. The company had revenue of $15.31 billion during the quarter, compared to the consensus estimate 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 earned $2.71 earnings per share. Analysts forecast that ConocoPhillips will post 9.57 EPS for the current year.

ConocoPhillips Increases Dividend

The company 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. The ex-dividend date was Thursday, February 15th. This represents a $3.12 annualized dividend and a dividend yield of 2.51%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio is currently 25.61%.

Insider Buying and Selling

In other ConocoPhillips news, CEO Ryan Michael Lance sold 607,000 shares of the company’s stock in a transaction that occurred 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other ConocoPhillips news, CEO Ryan Michael Lance sold 607,000 shares of ConocoPhillips 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 transaction, the chief executive officer now directly owns 6,780 shares of the company’s stock, valued at approximately $853,669.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Heather G. Hrap sold 4,548 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $110.55, for a total value of $502,781.40. Following the completion of the sale, the senior vice president now directly owns 2,654 shares of the company’s stock, valued at approximately $293,399.70. 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 ninety days. Company insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Valued Wealth Advisors LLC raised its stake in ConocoPhillips by 45.8% during the first quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer’s stock worth $33,000 after buying an additional 82 shares during the last quarter. Sloy Dahl & Holst LLC raised its position in shares of ConocoPhillips by 3.3% in the 3rd 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% in the 1st quarter. Astoria Portfolio Advisors LLC. now owns 2,232 shares of the energy producer’s stock valued at $291,000 after purchasing an additional 85 shares during the period. KLCM Advisors Inc. boosted its position in shares of ConocoPhillips by 2.8% during the 3rd quarter. KLCM Advisors Inc. now owns 3,305 shares of the energy producer’s stock valued at $396,000 after purchasing an additional 89 shares in the last quarter. Finally, Evergreen Capital Management LLC grew its stake in ConocoPhillips by 0.5% during the third quarter. Evergreen Capital Management LLC now owns 18,944 shares of the energy producer’s stock worth $2,270,000 after purchasing an additional 89 shares during the period. 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.