ConocoPhillips (NYSE:COP) Price Target Lowered to $135.00 at Barclays

ConocoPhillips (NYSE:COP) had its target price decreased by Barclays from $137.00 to $135.00 in a research report report published on Monday,Benzinga reports. Barclays currently has an overweight rating on the energy producer’s stock.

Other equities analysts have also issued reports about the company. Raymond James lowered ConocoPhillips from a “strong-buy” rating to an “outperform” rating and decreased their price objective for the stock from $157.00 to $124.00 in a report on Monday. Wells Fargo & Company decreased their price target on ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating for the company in a research note on Tuesday, January 14th. Morgan Stanley started coverage on shares of ConocoPhillips in a report on Monday, December 16th. They issued an “overweight” rating and a $128.00 price objective for the company. Mizuho raised shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and raised their target price for the company from $132.00 to $134.00 in a research note on Monday, December 16th. Finally, Piper Sandler reduced their price target on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $133.72.

ConocoPhillips Price Performance

Shares of COP opened at $99.39 on Monday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.16. The company has a market cap of $114.39 billion, a P/E ratio of 12.76, a PEG ratio of 0.77 and a beta of 1.18. ConocoPhillips has a 12 month low of $94.23 and a 12 month high of $135.18. The stock has a fifty day moving average price of $101.05 and a 200 day moving average price of $106.11.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates 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 forecast that ConocoPhillips will post 8.3 earnings per share for the current year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 17th will be given a $0.78 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $3.12 annualized dividend and a dividend yield of 3.14%. ConocoPhillips’s dividend payout ratio (DPR) is presently 40.05%.

Insider Buying and Selling

In related news, Director R A. Walker bought 10,400 shares of the firm’s stock in a transaction on Tuesday, December 17th. The stock was bought at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the purchase, the director now directly owns 38,000 shares of the company’s stock, valued at approximately $3,716,400. This represents a 37.68 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Arjun N. Murti purchased 2,500 shares of the stock in a transaction dated Friday, December 20th. The shares were bought at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the acquisition, the director now owns 21,500 shares in the company, valued at $2,061,205. This represents a 13.16 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.34% of the company’s stock.

Institutional Trading of ConocoPhillips

A number of institutional investors have recently bought and sold shares of COP. Cypress Capital Group raised its holdings in shares of ConocoPhillips by 0.5% in the 3rd quarter. Cypress Capital Group now owns 18,790 shares of the energy producer’s stock valued at $1,978,000 after purchasing an additional 96 shares during the period. Orrstown Financial Services Inc. increased its position in ConocoPhillips by 3.0% during the fourth quarter. Orrstown Financial Services Inc. now owns 3,342 shares of the energy producer’s stock worth $331,000 after buying an additional 96 shares during the last quarter. Smithfield Trust Co raised its stake in ConocoPhillips by 3.3% in the third quarter. Smithfield Trust Co now owns 3,132 shares of the energy producer’s stock valued at $332,000 after buying an additional 100 shares during the period. Principle Wealth Partners LLC lifted its position in shares of ConocoPhillips by 0.3% in the fourth quarter. Principle Wealth Partners LLC now owns 37,255 shares of the energy producer’s stock valued at $3,695,000 after buying an additional 100 shares during the last quarter. Finally, Asset Dedication LLC boosted its stake in shares of ConocoPhillips by 2.5% during the 3rd quarter. Asset Dedication LLC now owns 4,202 shares of the energy producer’s stock worth $442,000 after acquiring an additional 102 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Company Profile

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.