Weekly Analysts’ Ratings Updates for ConocoPhillips (COP)

ConocoPhillips (NYSE: COP) recently received a number of ratings updates from brokerages and research firms:

• 10/18/2024 – ConocoPhillips had its “sector perform” rating reaffirmed by analysts at Wells Fargo & Company.
• 10/18/2024 – ConocoPhillips had its price target lowered by analysts at Susquehanna from $147.00 to $144.00. They now have a “positive” rating on the stock.
• 10/11/2024 – ConocoPhillips had its “neutral” rating reaffirmed by analysts at JPMorgan Chase & Co.. They now have a $126.00 price target on the stock, down previously from $139.00.
• 10/10/2024 – ConocoPhillips had its price target lowered by analysts at Scotiabank from $120.00 to $115.00. They now have a “sector perform” rating on the stock.
• 10/4/2024 – ConocoPhillips had its price target raised by analysts at BMO Capital Markets from $123.00 to $125.00. They now have an “outperform” rating on the stock.
• 10/3/2024 – ConocoPhillips had its price target lowered by analysts at Barclays PLC from $156.00 to $135.00. They now have an “overweight” rating on the stock.
• 9/30/2024 – ConocoPhillips had its price target lowered by analysts at Truist Financial Co. from $145.00 to $138.00. They now have a “buy” rating on the stock.
• 9/27/2024 – ConocoPhillips had its price target lowered by analysts at Wells Fargo & Company from $150.00 to $132.00. They now have an “overweight” rating on the stock.
• 9/18/2024 – ConocoPhillips had its price target lowered by analysts at UBS Group AG from $153.00 to $140.00. They now have a “buy” rating on the stock.
• 9/16/2024 – ConocoPhillips had its price target lowered by analysts at Mizuho from $132.00 to $129.00. They now have a “neutral” rating on the stock.
• 9/13/2024 – ConocoPhillips had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $140.00 price target on the stock.
• 9/4/2024 – ConocoPhillips had its price target lowered by analysts at Susquehanna from $154.00 to $147.00. They now have a “positive” rating on the stock.

ConocoPhillips Stock Performance

Shares of COP opened at $104.49 on Thursday. ConocoPhillips has a one year low of $101.29 and a one year high of $135.18. The company has a 50-day moving average of $108.74 and a two-hundred day moving average of $114.21. The stock has a market cap of $121.34 billion, a price-to-earnings ratio of 11.65, a PEG ratio of 0.85 and a beta of 1.21. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.33 and a quick ratio of 1.19.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.96 by $0.02. The business had revenue of $14.14 billion during the quarter, compared to analyst estimates of $14.96 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The firm’s revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.84 earnings per share. On average, equities research analysts expect that ConocoPhillips will post 7.95 earnings per share for the current year.

ConocoPhillips Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date was Monday, August 12th. ConocoPhillips’s dividend payout ratio (DPR) is 25.86%.

Insider Transactions at ConocoPhillips

In other news, Director Timothy A. Leach sold 55,500 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total value of $6,000,105.00. Following the completion of the sale, the director now directly owns 455,909 shares of the company’s stock, valued at $49,288,321.99. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.34% of the stock is owned by insiders.

Hedge Funds Weigh In On ConocoPhillips

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. raised its position in ConocoPhillips by 7.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 166,451 shares of the energy producer’s stock valued at $17,431,000 after acquiring an additional 11,120 shares in the last quarter. Parcion Private Wealth LLC raised its position in shares of ConocoPhillips by 12.7% in the third quarter. Parcion Private Wealth LLC now owns 13,968 shares of the energy producer’s stock valued at $1,471,000 after purchasing an additional 1,572 shares during the period. Bank of Stockton raised its position in shares of ConocoPhillips by 129.2% in the third quarter. Bank of Stockton now owns 11,182 shares of the energy producer’s stock valued at $1,177,000 after purchasing an additional 6,303 shares during the period. Mediolanum International Funds Ltd raised its position in shares of ConocoPhillips by 2.8% in the third quarter. Mediolanum International Funds Ltd now owns 382,825 shares of the energy producer’s stock valued at $40,023,000 after purchasing an additional 10,381 shares during the period. Finally, Lake Street Advisors Group LLC raised its position in shares of ConocoPhillips by 2.1% in the third quarter. Lake Street Advisors Group LLC now owns 8,297 shares of the energy producer’s stock valued at $874,000 after purchasing an additional 172 shares during the period. Institutional investors own 82.36% of the company’s stock.

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.