Truist Financial Trims ConocoPhillips (NYSE:COP) Target Price to $147.00

ConocoPhillips (NYSE:COP) had its target price cut by Truist Financial from $165.00 to $147.00 in a report issued on Monday, Benzinga reports. They currently have a buy rating on the energy producer’s stock.

Other research analysts have also issued reports about the stock. Susquehanna lifted their price objective on shares of ConocoPhillips from $133.00 to $154.00 and gave the company a positive rating in a research note on Monday, April 22nd. Sanford C. Bernstein dropped their price objective on shares of ConocoPhillips from $147.00 to $132.00 and set an outperform rating on the stock in a research note on Wednesday, July 17th. Wolfe Research began coverage on shares of ConocoPhillips in a research note on Thursday, July 18th. They issued an outperform rating and a $145.00 price objective on the stock. Morgan Stanley lifted their price objective on shares of ConocoPhillips from $123.00 to $129.00 and gave the company an overweight rating in a research note on Thursday, March 28th. Finally, Scotiabank dropped their price target on shares of ConocoPhillips from $135.00 to $120.00 and set a sector perform rating on the stock in a research note on Friday, July 12th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $143.24.

ConocoPhillips Price Performance

Shares of COP opened at $111.03 on Monday. ConocoPhillips has a 1-year low of $105.77 and a 1-year high of $135.18. The stock has a market cap of $129.85 billion, a PE ratio of 12.57, a price-to-earnings-growth ratio of 2.00 and a beta of 1.23. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.35 and a quick ratio of 1.21. The firm has a fifty day moving average price of $113.97 and a 200 day moving average price of $117.16.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, May 2nd. The energy producer reported $2.03 EPS for the quarter, beating analysts’ consensus estimates of $1.99 by $0.04. The company had revenue of $14.48 billion for the quarter, compared to analyst estimates of $14.72 billion. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. As a group, sell-side analysts anticipate that ConocoPhillips will post 8.8 EPS for the current year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 13th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, May 10th. This represents a $3.12 annualized dividend and a yield of 2.81%. ConocoPhillips’s payout ratio is currently 26.27%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in COP. BKM Wealth Management LLC purchased a new stake in shares of ConocoPhillips in the fourth quarter valued at about $108,000. Mutual Advisors LLC lifted its holdings in shares of ConocoPhillips by 20.8% in the fourth quarter. Mutual Advisors LLC now owns 13,343 shares of the energy producer’s stock valued at $1,549,000 after purchasing an additional 2,296 shares in the last quarter. Cooper Financial Group lifted its holdings in shares of ConocoPhillips by 17.6% in the fourth quarter. Cooper Financial Group now owns 2,370 shares of the energy producer’s stock valued at $275,000 after purchasing an additional 355 shares in the last quarter. CoreCap Advisors LLC lifted its holdings in shares of ConocoPhillips by 1.1% in the fourth quarter. CoreCap Advisors LLC now owns 13,164 shares of the energy producer’s stock valued at $1,528,000 after purchasing an additional 145 shares in the last quarter. Finally, Raymond James & Associates lifted its holdings in shares of ConocoPhillips by 1.5% in the fourth quarter. Raymond James & Associates now owns 1,563,044 shares of the energy producer’s stock valued at $181,422,000 after purchasing an additional 23,572 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

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.