ConocoPhillips (NYSE:COP) PT Lowered to $151.00 at UBS Group

ConocoPhillips (NYSE:COP) had its price objective cut by UBS Group from $159.00 to $151.00 in a research report report published on Tuesday morning, Benzinga reports. They currently have a buy rating on the energy producer’s stock.

Several other equities analysts have also weighed in on COP. Sanford C. Bernstein decreased their target price on shares of ConocoPhillips from $147.00 to $132.00 and set an outperform rating on the stock in a report on Wednesday, July 17th. Barclays boosted their target price on shares of ConocoPhillips from $158.00 to $160.00 and gave the company an overweight rating in a report on Thursday, May 30th. Truist Financial decreased their price objective on shares of ConocoPhillips from $147.00 to $145.00 and set a buy rating on the stock in a report on Friday, August 2nd. Wolfe Research assumed coverage on shares of ConocoPhillips in a report on Thursday, July 18th. They issued an outperform rating and a $145.00 price objective on the stock. Finally, Piper Sandler upped their price objective on shares of ConocoPhillips from $145.00 to $157.00 and gave the stock an overweight rating in a report on Thursday, April 18th. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $143.53.

ConocoPhillips Price Performance

Shares of COP stock traded up $0.44 on Tuesday, reaching $108.71. 3,573,825 shares of the company were exchanged, compared to its average volume of 5,698,239. ConocoPhillips has a 1 year low of $102.27 and a 1 year high of $135.18. The company has a market cap of $127.14 billion, a price-to-earnings ratio of 12.31, a P/E/G ratio of 2.14 and a beta of 1.24. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.21 and a current ratio of 1.33. The business has a 50-day moving average price of $111.96 and a 200 day moving average price of $117.00.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.02. The company had revenue of $14.14 billion during the quarter, compared to analysts’ expectations of $14.96 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. ConocoPhillips’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.84 EPS. Equities research analysts forecast that ConocoPhillips will post 8.73 earnings per share for the current fiscal year.

ConocoPhillips Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Monday, August 12th will be given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend is Monday, August 12th. ConocoPhillips’s dividend payout ratio (DPR) is 26.27%.

Institutional Trading of ConocoPhillips

A number of large investors have recently bought and sold shares of the business. Quantbot Technologies LP acquired a new stake in ConocoPhillips during the 2nd quarter worth $6,848,000. Greenwich Wealth Management LLC boosted its stake in ConocoPhillips by 4.0% during the 2nd quarter. Greenwich Wealth Management LLC now owns 2,581 shares of the energy producer’s stock worth $295,000 after purchasing an additional 99 shares during the period. Fairfield Financial Advisors LTD acquired a new stake in ConocoPhillips during the 2nd quarter worth $141,000. Plato Investment Management Ltd lifted its stake in shares of ConocoPhillips by 98.3% in the 2nd quarter. Plato Investment Management Ltd now owns 22,485 shares of the energy producer’s stock worth $2,572,000 after acquiring an additional 11,145 shares during the period. Finally, Diamond Hill Capital Management Inc. lifted its stake in shares of ConocoPhillips by 2.0% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 5,709,604 shares of the energy producer’s stock worth $653,065,000 after acquiring an additional 109,885 shares during the period. Institutional investors and hedge funds 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.