Brokerages Set ConocoPhillips (NYSE:COP) Price Target at $121.80

Shares of ConocoPhillips (NYSE:COP - Get Free Report) have earned an average recommendation of "Moderate Buy" from the nineteen brokerages that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $121.80.

Several brokerages recently commented on COP. Scotiabank dropped their price target on ConocoPhillips from $115.00 to $95.00 and set a "sector perform" rating for the company in a research report on Friday, April 11th. Wells Fargo & Company reiterated an "overweight" rating and set a $117.00 price target (up from $113.00) on shares of ConocoPhillips in a research report on Thursday, June 26th. Citigroup dropped their price target on ConocoPhillips from $140.00 to $115.00 and set a "buy" rating for the company in a research report on Wednesday, June 11th. Royal Bank Of Canada reduced their target price on shares of ConocoPhillips from $120.00 to $115.00 and set an "outperform" rating on the stock in a research note on Friday, May 30th. Finally, Piper Sandler raised their price target on shares of ConocoPhillips from $107.00 to $113.00 and gave the stock an "overweight" rating in a report on Wednesday, July 2nd.

ConocoPhillips Stock Performance

Shares of NYSE:COP traded up $0.91 during midday trading on Thursday, reaching $95.44. The company's stock had a trading volume of 4,065,002 shares, compared to its average volume of 7,637,113. The company has a quick ratio of 1.13, a current ratio of 1.27 and a debt-to-equity ratio of 0.36. The stock has a fifty day moving average of $90.41 and a 200 day moving average of $94.79. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $118.40. The firm has a market capitalization of $120.65 billion, a PE ratio of 12.13, a P/E/G ratio of 2.58 and a beta of 0.61.

ConocoPhillips (NYSE:COP - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, topping the consensus estimate of $2.05 by $0.04. The business had revenue of $16.18 billion for the quarter, compared to analyst estimates of $15.74 billion. ConocoPhillips had a return on equity of 16.54% and a net margin of 16.02%. During the same quarter in the prior year, the firm posted $2.05 EPS. On average, equities analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date was Monday, May 19th. ConocoPhillips's dividend payout ratio is presently 39.64%.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, EVP Kirk L. Johnson bought 5,300 shares of the business's stock in a transaction dated Monday, June 16th. The shares were acquired at an average cost of $94.24 per share, with a total value of $499,472.00. Following the acquisition, the executive vice president directly owned 14,527 shares of the company's stock, valued at $1,369,024.48. The trade was a 57.44% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.24% of the company's stock.

Institutional Trading of ConocoPhillips

Several hedge funds have recently modified their holdings of COP. Murphy & Mullick Capital Management Corp purchased a new stake in shares of ConocoPhillips during the 4th quarter worth approximately $26,000. 10Elms LLP purchased a new stake in ConocoPhillips during the fourth quarter worth $28,000. Financial Network Wealth Advisors LLC boosted its position in shares of ConocoPhillips by 341.5% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer's stock worth $30,000 after buying an additional 222 shares in the last quarter. Stone House Investment Management LLC acquired a new stake in ConocoPhillips in the 1st quarter valued at about $31,000. Finally, Crowley Wealth Management Inc. acquired a new stake in ConocoPhillips in the 4th quarter valued at about $32,000. 82.36% of the stock is owned by institutional investors and hedge funds.

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.