ConocoPhillips (NYSE:COP) Given New $113.00 Price Target at Royal Bank Of Canada

ConocoPhillips (NYSE:COP - Free Report) had its price target trimmed by Royal Bank Of Canada from $115.00 to $113.00 in a report issued on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the energy producer's stock.

COP has been the topic of several other research reports. Scotiabank dropped their price objective on shares of ConocoPhillips from $115.00 to $95.00 and set a "sector perform" rating on the stock in a research note on Friday, April 11th. Susquehanna reduced their price target on shares of ConocoPhillips from $120.00 to $114.00 and set a "positive" rating for the company in a report on Monday, May 12th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $117.00 price objective (up from $113.00) on shares of ConocoPhillips in a report on Thursday, June 26th. Citigroup dropped their target price on shares of ConocoPhillips from $140.00 to $115.00 and set a "buy" rating for the company in a research report on Wednesday, June 11th. Finally, Mizuho dropped their target price on shares of ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $122.15.

ConocoPhillips Price Performance

COP stock traded up $0.29 on Friday, hitting $95.66. 4,903,410 shares of the company's stock traded hands, compared to its average volume of 7,648,450. The company has a current ratio of 1.27, a quick ratio of 1.13 and a debt-to-equity ratio of 0.36. The stock has a market cap of $120.93 billion, a price-to-earnings ratio of 12.16, a P/E/G ratio of 2.57 and a beta of 0.61. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $118.40. The stock has a fifty day moving average of $90.50 and a 200-day moving average of $94.78.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, beating the consensus estimate of $2.05 by $0.04. The business had revenue of $16.18 billion during the quarter, compared to the consensus estimate of $15.74 billion. ConocoPhillips had a net margin of 16.02% and a return on equity of 16.54%. During the same quarter in the prior year, the firm earned $2.05 EPS. On average, analysts forecast 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. Stockholders of record on Monday, May 19th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.26%. The ex-dividend date was Monday, May 19th. ConocoPhillips's dividend payout ratio is 39.64%.

Insider Activity at ConocoPhillips

In other ConocoPhillips news, EVP Kirk L. Johnson purchased 5,300 shares of the stock in a transaction dated Monday, June 16th. The stock was bought at an average price of $94.24 per share, for a total transaction of $499,472.00. Following the transaction, the executive vice president directly owned 14,527 shares in the company, valued at $1,369,024.48. This represents a 57.44% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 0.24% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ConocoPhillips

Institutional investors have recently modified their holdings of the business. Murphy & Mullick Capital Management Corp acquired a new position in ConocoPhillips during the fourth quarter valued at approximately $26,000. 10Elms LLP acquired a new position in ConocoPhillips during the fourth quarter valued at approximately $28,000. Financial Network Wealth Advisors LLC grew its holdings in ConocoPhillips by 341.5% during the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer's stock valued at $30,000 after purchasing an additional 222 shares during the period. Stone House Investment Management LLC acquired a new position in ConocoPhillips during the first quarter valued at approximately $31,000. Finally, Crowley Wealth Management Inc. bought a new position in ConocoPhillips in the fourth quarter valued at approximately $32,000. 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.