ConocoPhillips (NYSE:COP) Receives Consensus Recommendation of “Buy” from Analysts

ConocoPhillips (NYSE:COP) has been assigned a consensus rating of “Buy” from the nineteen ratings firms that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation, seventeen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $133.47.

COP has been the subject of several analyst reports. Raymond James cut ConocoPhillips from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the company from $157.00 to $124.00 in a report on Monday, February 10th. Piper Sandler cut their price objective on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Morgan Stanley began coverage on shares of ConocoPhillips in a report on Monday, December 16th. They issued an “overweight” rating and a $128.00 target price on the stock. Barclays lowered their price objective on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Finally, Truist Financial raised their target price on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a report on Monday, January 13th.

ConocoPhillips Stock Performance

NYSE:COP opened at $88.56 on Friday. The stock has a 50 day simple moving average of $99.66 and a 200 day simple moving average of $104.53. The stock has a market cap of $112.69 billion, a P/E ratio of 11.37, a PEG ratio of 0.79 and a beta of 1.12. ConocoPhillips has a 1-year low of $86.81 and a 1-year high of $135.18. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating 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%. Research analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were issued a $0.78 dividend. The ex-dividend date was Friday, February 14th. This represents a $3.12 annualized dividend and a yield of 3.52%. ConocoPhillips’s payout ratio is 40.05%.

Insiders Place Their Bets

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

Institutional Investors Weigh In On ConocoPhillips

Hedge funds and other institutional investors have recently modified their holdings of the company. Harbor Capital Advisors Inc. raised its holdings in ConocoPhillips by 18.1% during the third quarter. Harbor Capital Advisors Inc. now owns 1,648 shares of the energy producer’s stock worth $174,000 after buying an additional 253 shares during the last quarter. United Advisor Group LLC raised its holdings in shares of ConocoPhillips by 33.4% in the 3rd quarter. United Advisor Group LLC now owns 2,454 shares of the energy producer’s stock worth $258,000 after acquiring an additional 614 shares during the last quarter. Crestwood Advisors Group LLC lifted its position in ConocoPhillips by 1.7% in the 3rd quarter. Crestwood Advisors Group LLC now owns 6,420 shares of the energy producer’s stock valued at $676,000 after acquiring an additional 105 shares in the last quarter. Avidian Wealth Enterprises LLC boosted its stake in ConocoPhillips by 2.2% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 12,441 shares of the energy producer’s stock valued at $1,310,000 after purchasing an additional 270 shares during the last quarter. Finally, 1834 Investment Advisors Co. increased its holdings in ConocoPhillips by 1.8% during the 3rd quarter. 1834 Investment Advisors Co. now owns 8,167 shares of the energy producer’s stock worth $860,000 after purchasing an additional 141 shares in the last quarter. Institutional investors 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.