ConocoPhillips (NYSE:COP) Given New $135.00 Price Target at Barclays

ConocoPhillips (NYSE:COP) had its price objective trimmed by Barclays from $156.00 to $135.00 in a research note published on Thursday morning, Benzinga reports. The firm currently has an overweight rating on the energy producer’s stock.

A number of other equities analysts have also weighed in on the company. Scotiabank reduced their price objective on 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 started coverage on ConocoPhillips in a research note on Thursday, July 18th. They issued an outperform rating and a $145.00 price target for the company. Bank of America restated a buy rating and issued a $147.00 price target on shares of ConocoPhillips in a research note on Friday, June 14th. Argus upgraded ConocoPhillips to a strong-buy rating in a report on Friday, June 7th. Finally, StockNews.com cut ConocoPhillips from a buy rating to a hold rating in a report on Wednesday, July 17th. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $138.29.

ConocoPhillips Trading Up 1.9 %

COP opened at $114.54 on Thursday. The stock’s fifty day moving average is $108.77 and its two-hundred day moving average is $115.94. The company has a market capitalization of $133.96 billion, a P/E ratio of 12.97, a PEG ratio of 0.87 and a beta of 1.21. ConocoPhillips has a 52 week low of $101.29 and a 52 week high of $135.18. The company has a quick ratio of 1.19, a current ratio of 1.33 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.02. The business had revenue of $14.14 billion for the quarter, compared to analysts’ expectations of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.84 EPS. Analysts forecast that ConocoPhillips will post 8.02 earnings per share for the current year.

ConocoPhillips Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were issued a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 2.03%. The ex-dividend date was Monday, August 12th. ConocoPhillips’s dividend payout ratio (DPR) is presently 26.27%.

Insider Activity at ConocoPhillips

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the company’s stock in a transaction on 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 owns 455,909 shares in the company, valued at $49,288,321.99. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.34% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ConocoPhillips

Large investors have recently bought and sold shares of the stock. Cooksen Wealth LLC acquired a new stake in shares of ConocoPhillips during the fourth quarter worth about $27,000. Stephens Consulting LLC increased its holdings in ConocoPhillips by 69.3% in the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after buying an additional 104 shares in the last quarter. Richardson Capital Management LLC purchased a new position in ConocoPhillips in the first quarter valued at about $31,000. Northwest Bank & Trust Co purchased a new position in ConocoPhillips in the fourth quarter valued at about $32,000. Finally, Ruedi Wealth Management Inc. increased its holdings in ConocoPhillips by 150.0% in the first quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock valued at $32,000 after buying an additional 150 shares in the last quarter. 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.