Truist Financial Lowers ConocoPhillips (NYSE:COP) Price Target to $138.00

ConocoPhillips (NYSE:COP) had its price target trimmed by Truist Financial from $145.00 to $138.00 in a research note issued to investors on Monday, Benzinga reports. They currently have a buy rating on the energy producer’s stock.

Several other analysts also recently weighed in on the stock. StockNews.com downgraded shares of ConocoPhillips from a buy rating to a hold rating in a research note on Wednesday, July 17th. Scotiabank lowered their price target on shares of ConocoPhillips from $135.00 to $120.00 and set a sector perform rating for the company in a research note on Friday, July 12th. Wolfe Research initiated coverage on shares of ConocoPhillips in a research note on Thursday, July 18th. They issued an outperform rating and a $145.00 price target for the company. Sanford C. Bernstein lowered their price objective on shares of ConocoPhillips from $147.00 to $132.00 and set an outperform rating for the company in a research note on Wednesday, July 17th. Finally, Susquehanna lowered their price objective on shares of ConocoPhillips from $154.00 to $147.00 and set a positive rating for the company in a research note on Wednesday, September 4th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, ConocoPhillips currently has a consensus rating of Moderate Buy and a consensus target price of $140.69.

ConocoPhillips Stock Up 0.9 %

Shares of NYSE:COP opened at $110.36 on Monday. ConocoPhillips has a 52-week low of $101.29 and a 52-week high of $135.18. The firm has a fifty day moving average of $108.67 and a 200 day moving average of $116.09. The firm has a market capitalization of $128.16 billion, a PE ratio of 12.50, a price-to-earnings-growth ratio of 0.82 and a beta of 1.22. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.33.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.02. The business had revenue of $14.14 billion during the quarter, compared to the consensus estimate of $14.96 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.84 earnings per share. As a group, research analysts anticipate that ConocoPhillips will post 8.12 EPS for the current fiscal year.

ConocoPhillips Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend was Monday, August 12th. ConocoPhillips’s payout ratio is currently 26.27%.

Insider Buying and Selling

In related news, Director Timothy A. Leach sold 55,500 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total value of $6,000,105.00. Following the completion of the transaction, the director now directly owns 455,909 shares of the company’s stock, valued at $49,288,321.99. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.34% of the stock is owned by insiders.

Hedge Funds Weigh In On ConocoPhillips

A number of institutional investors have recently bought and sold shares of COP. Valued Wealth Advisors LLC grew its holdings in ConocoPhillips by 45.8% in the first quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer’s stock worth $33,000 after purchasing an additional 82 shares during the period. Astoria Portfolio Advisors LLC. grew its holdings in ConocoPhillips by 4.0% in the first quarter. Astoria Portfolio Advisors LLC. now owns 2,232 shares of the energy producer’s stock worth $291,000 after purchasing an additional 85 shares during the period. Manchester Capital Management LLC grew its holdings in ConocoPhillips by 22.1% in the first quarter. Manchester Capital Management LLC now owns 475 shares of the energy producer’s stock worth $60,000 after purchasing an additional 86 shares during the period. Adirondack Trust Co. grew its holdings in ConocoPhillips by 3.1% in the fourth quarter. Adirondack Trust Co. now owns 2,990 shares of the energy producer’s stock worth $336,000 after purchasing an additional 90 shares during the period. Finally, Mayfair Advisory Group LLC grew its holdings in ConocoPhillips by 3.5% in the first quarter. Mayfair Advisory Group LLC now owns 2,627 shares of the energy producer’s stock worth $334,000 after purchasing an additional 90 shares during the period. 82.36% of the stock is owned by institutional investors.

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.