ConocoPhillips (NYSE:COP) Given New $148.00 Price Target at Susquehanna

ConocoPhillips (NYSE:COP) had its price target upped by Susquehanna from $144.00 to $148.00 in a research note published on Friday morning, Benzinga reports. They currently have a positive rating on the energy producer’s stock.

A number of other research firms also recently weighed in on COP. Mizuho dropped their target price on ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. StockNews.com cut ConocoPhillips from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Royal Bank of Canada reiterated an “outperform” rating and set a $140.00 price target on shares of ConocoPhillips in a research report on Friday, September 13th. Truist Financial dropped their price target on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Finally, BMO Capital Markets lifted their target price on shares of ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Six analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, ConocoPhillips has an average rating of “Moderate Buy” and an average price target of $137.47.

ConocoPhillips Price Performance

NYSE:COP traded down $1.70 during mid-day trading on Friday, reaching $107.84. 7,428,060 shares of the company were exchanged, compared to its average volume of 5,908,149. The company has a quick ratio of 1.19, a current ratio of 1.33 and a debt-to-equity ratio of 0.34. The stock has a market cap of $125.23 billion, a PE ratio of 12.02, a PEG ratio of 0.84 and a beta of 1.21. ConocoPhillips has a 12 month low of $101.29 and a 12 month high of $135.18. The company has a fifty day moving average of $107.94 and a 200 day moving average of $113.02.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, beating the consensus estimate of $1.68 by $0.10. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The business had revenue of $13.60 billion for the quarter, compared to analysts’ expectations of $13.97 billion. During the same period in the prior year, the firm earned $2.16 earnings per share. ConocoPhillips’s revenue was down 8.5% compared to the same quarter last year. On average, research analysts anticipate that ConocoPhillips will post 7.76 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 11th will be issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 2.89%. The ex-dividend date is Friday, November 8th. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio is 25.86%.

Insider Transactions at ConocoPhillips

In related 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 directly owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.34% of the stock is owned by insiders.

Hedge Funds Weigh In On ConocoPhillips

Several hedge funds have recently made changes to their positions in COP. Ruedi Wealth Management Inc. raised its stake in shares of ConocoPhillips by 150.0% during the 1st quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock worth $32,000 after purchasing an additional 150 shares in the last quarter. Values First Advisors Inc. acquired a new stake in ConocoPhillips in the third quarter valued at $26,000. Stephens Consulting LLC grew its position in shares of ConocoPhillips by 69.3% in the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after acquiring an additional 104 shares during the period. Reston Wealth Management LLC acquired a new position in shares of ConocoPhillips during the 3rd quarter worth about $31,000. Finally, Y.D. More Investments Ltd bought a new stake in shares of ConocoPhillips in the 2nd quarter valued at about $35,000. 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.