ConocoPhillips (NYSE:COP) Receives $120.95 Consensus Target Price from Analysts

Key Points

• ConocoPhillips has received a consensus rating of "Moderate Buy" from twenty research firms, with four analysts rating it as hold and sixteen as buy, alongside an average one-year target price of $120.95.
• The company reported a quarterly earnings-per-share of $1.42, surpassing the consensus estimate by $0.06, and revenues for the quarter were $14.94 billion, up 4.3% compared to last year.
• ConocoPhillips announced a quarterly dividend of $0.78 per share, equating to an annualized yield of 3.2%, with the stock's payout ratio currently at 41.88%.

Shares of ConocoPhillips (NYSE:COP - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the twenty analysts that are currently covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $120.9524.

Several research firms have issued reports on COP. Piper Sandler boosted their price objective on shares of ConocoPhillips from $123.00 to $124.00 and gave the company an "overweight" rating in a research report on Monday, August 18th. Scotiabank lifted their price target on shares of ConocoPhillips from $95.00 to $100.00 and gave the company a "sector perform" rating in a research note on Friday, July 11th. Wall Street Zen lowered ConocoPhillips from a "hold" rating to a "sell" rating in a report on Friday, August 22nd. UBS Group increased their price objective on ConocoPhillips from $116.00 to $124.00 and gave the stock a "buy" rating in a research note on Wednesday, August 20th. Finally, Citigroup decreased their target price on ConocoPhillips from $140.00 to $115.00 and set a "buy" rating for the company in a research report on Wednesday, June 11th.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, EVP Kirk L. Johnson acquired 5,300 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was bought at an average cost of $94.24 per share, with a total value of $499,472.00. Following the completion of the purchase, the executive vice president directly owned 14,527 shares in the company, valued at $1,369,024.48. The trade was a 57.44% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.24% of the stock is owned by insiders.

Institutional Investors Weigh In On ConocoPhillips

Several large investors have recently modified their holdings of COP. Schonfeld Strategic Advisors LLC raised its holdings in shares of ConocoPhillips by 187.5% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 58,826 shares of the energy producer's stock valued at $5,834,000 after purchasing an additional 38,363 shares in the last quarter. Triumph Capital Management raised its holdings in shares of ConocoPhillips by 6.7% in the 4th quarter. Triumph Capital Management now owns 2,364 shares of the energy producer's stock valued at $234,000 after purchasing an additional 149 shares in the last quarter. Freestone Grove Partners LP bought a new stake in shares of ConocoPhillips in the 4th quarter valued at about $98,263,000. Keel Point LLC raised its holdings in shares of ConocoPhillips by 2.3% in the 4th quarter. Keel Point LLC now owns 5,891 shares of the energy producer's stock valued at $584,000 after purchasing an additional 132 shares in the last quarter. Finally, Blue Rock Wealth Management LLC bought a new stake in shares of ConocoPhillips in the 4th quarter valued at about $283,000. Institutional investors own 82.36% of the company's stock.

ConocoPhillips Trading Up 0.6%

Shares of ConocoPhillips stock traded up $0.61 during trading on Friday, hitting $99.06. The stock had a trading volume of 4,594,203 shares, compared to its average volume of 6,974,235. The firm's fifty day simple moving average is $94.16 and its 200-day simple moving average is $93.18. The stock has a market cap of $123.72 billion, a PE ratio of 13.30, a PEG ratio of 2.59 and a beta of 0.67. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $116.08.

ConocoPhillips (NYSE:COP - Get Free Report) last released its earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.06. The firm had revenue of $14.94 billion during the quarter, compared to analyst estimates of $14.39 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The business's revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the business earned $1.98 EPS. As a group, sell-side analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th will be paid a dividend of $0.78 per share. The ex-dividend date is Monday, August 18th. This represents a $3.12 annualized dividend and a dividend yield of 3.1%. ConocoPhillips's dividend payout ratio (DPR) is currently 41.88%.

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.