ConocoPhillips (NYSE:COP) Receives $132.95 Consensus Target Price from Analysts

ConocoPhillips (NYSE:COP) has been given an average recommendation of “Buy” by the nineteen brokerages that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold recommendation, seventeen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $132.95.

COP has been the subject of a number of research reports. Piper Sandler decreased their target price on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. The Goldman Sachs Group set a $132.00 target price on ConocoPhillips in a report on Thursday, January 30th. Mizuho upgraded ConocoPhillips from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $132.00 to $134.00 in a research note on Monday, December 16th. JPMorgan Chase & Co. decreased their price target on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Finally, TD Cowen started coverage on ConocoPhillips in a research report on Friday, January 17th. They set a “buy” rating and a $125.00 price target on the stock.

ConocoPhillips Trading Down 9.5 %

NYSE:COP opened at $86.18 on Tuesday. The stock’s 50 day moving average price is $98.53 and its 200 day moving average price is $103.10. ConocoPhillips has a 52-week low of $85.55 and a 52-week high of $135.18. The company has a market capitalization of $108.95 billion, a PE ratio of 11.06, a P/E/G ratio of 0.79 and a beta of 0.83. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, topping the consensus estimate of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. On average, research analysts anticipate that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date was Friday, February 14th. ConocoPhillips’s dividend payout ratio is presently 40.05%.

Institutional Investors Weigh In On ConocoPhillips

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of ConocoPhillips by 11.7% during the 4th quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer’s stock valued at $12,081,491,000 after buying an additional 12,751,120 shares in the last quarter. State Street Corp lifted its position in ConocoPhillips by 19.0% in the 3rd quarter. State Street Corp now owns 66,928,793 shares of the energy producer’s stock worth $7,046,263,000 after buying an additional 10,663,093 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of ConocoPhillips by 13.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer’s stock valued at $4,546,706,000 after purchasing an additional 5,549,078 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of ConocoPhillips by 20.2% in the 3rd quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer’s stock valued at $3,280,725,000 after acquiring an additional 5,240,016 shares during the last quarter. Finally, Invesco Ltd. lifted its position in ConocoPhillips by 37.1% in the fourth quarter. Invesco Ltd. now owns 15,570,246 shares of the energy producer’s stock valued at $1,544,101,000 after purchasing an additional 4,211,939 shares during the last quarter. 82.36% of the stock is owned by 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.