ConocoPhillips (NYSE:COP) PT Lowered to $138.00 at Truist Financial

ConocoPhillips (NYSE:COP) had its price objective reduced by Truist Financial from $145.00 to $138.00 in a report issued on Monday morning, Benzinga reports. They currently have a buy rating on the energy producer’s stock.

A number of other research firms also recently issued reports on COP. Susquehanna cut their price target on ConocoPhillips from $154.00 to $147.00 and set a positive rating for the company in a research note on Wednesday, September 4th. Scotiabank dropped their target price on shares of ConocoPhillips from $135.00 to $120.00 and set a sector perform rating on the stock in a research report on Friday, July 12th. Bank of America reissued a buy rating and set a $147.00 target price on shares of ConocoPhillips in a research report on Friday, June 14th. Royal Bank of Canada reissued an outperform rating and set a $140.00 target price on shares of ConocoPhillips in a research report on Friday, September 13th. Finally, UBS Group dropped their target price on shares of ConocoPhillips from $153.00 to $140.00 and set a buy rating on the stock in a research report on Wednesday, September 18th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, ConocoPhillips presently has a consensus rating of Moderate Buy and an average price target of $140.69.

ConocoPhillips Price Performance

COP stock opened at $110.36 on Monday. The company has a market capitalization of $128.16 billion, a P/E ratio of 12.50, a price-to-earnings-growth ratio of 0.82 and a beta of 1.22. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.33. ConocoPhillips has a 52-week low of $101.29 and a 52-week high of $135.18. The business has a 50-day simple moving average of $108.67 and a two-hundred day simple moving average of $116.09.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.02. The business had revenue of $14.14 billion during the quarter, compared to the consensus estimate of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The company’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.84 EPS. Research analysts expect that ConocoPhillips will post 8.12 EPS for the current fiscal year.

ConocoPhillips Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were issued a dividend of $0.58 per share. The ex-dividend date was Monday, August 12th. This represents a $2.32 dividend on an annualized basis and a yield of 2.10%. ConocoPhillips’s payout ratio is 26.27%.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the sale, the director now owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in COP. Cooksen Wealth LLC purchased a new position in shares of ConocoPhillips during the 4th quarter valued at $27,000. Stephens Consulting LLC grew its position in shares of ConocoPhillips by 69.3% during the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after purchasing an additional 104 shares in the last quarter. Richardson Capital Management LLC purchased a new position in shares of ConocoPhillips during the 1st quarter valued at $31,000. Northwest Bank & Trust Co purchased a new position in ConocoPhillips in the fourth quarter worth $32,000. Finally, Ruedi Wealth Management Inc. grew its position in ConocoPhillips by 150.0% in the first quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock worth $32,000 after acquiring an additional 150 shares in the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

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.