ConocoPhillips (NYSE:COP) PT Lowered to $147.00 at Susquehanna

ConocoPhillips (NYSE:COP) had its price objective cut by Susquehanna from $154.00 to $147.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a positive rating on the energy producer’s stock.

Other equities analysts have also issued research reports about the company. Raymond James reissued a strong-buy rating and set a $159.00 price target (up previously from $155.00) on shares of ConocoPhillips in a report on Thursday, May 30th. Bank of America reissued a buy rating and issued a $147.00 target price on shares of ConocoPhillips in a report on Friday, June 14th. Barclays increased their price target on ConocoPhillips from $158.00 to $160.00 and gave the stock an overweight rating in a report on Thursday, May 30th. Wells Fargo & Company dropped their price objective on shares of ConocoPhillips from $151.00 to $150.00 and set an overweight rating on the stock in a research note on Friday, August 2nd. Finally, Mizuho reduced their target price on shares of ConocoPhillips from $142.00 to $132.00 and set a neutral rating for the company in a research note on Wednesday, June 5th. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $143.24.

ConocoPhillips Trading Down 1.3 %

COP opened at $106.02 on Wednesday. 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 has a 52 week low of $102.27 and a 52 week high of $135.18. The business’s 50 day moving average is $111.20 and its two-hundred day moving average is $117.00. The firm has a market cap of $123.99 billion, a price-to-earnings ratio of 12.01, a price-to-earnings-growth ratio of 0.85 and a beta of 1.22.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, beating analysts’ consensus estimates of $1.96 by $0.02. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The business had revenue of $14.14 billion for the quarter, compared to analysts’ expectations of $14.96 billion. During the same period in the previous year, the company posted $1.84 EPS. The company’s quarterly revenue was up 9.7% on a year-over-year basis. On average, research analysts predict that ConocoPhillips will post 8.5 EPS for the current year.

ConocoPhillips Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were issued a dividend of $0.58 per share. The ex-dividend date was Monday, August 12th. This represents a $2.32 annualized dividend and a dividend yield of 2.19%. ConocoPhillips’s dividend payout ratio is 26.27%.

Insiders Place Their Bets

In related news, Director Timothy A. Leach sold 55,500 shares of ConocoPhillips 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 sale, the director now owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On ConocoPhillips

A number of institutional investors have recently made changes to their positions in the business. Sachetta LLC bought a new position in ConocoPhillips during the fourth quarter valued at about $27,000. Cooksen Wealth LLC bought a new stake in shares of ConocoPhillips during the fourth quarter valued at approximately $27,000. Cape Investment Advisory Inc. raised its stake in shares of ConocoPhillips by 96.0% in the fourth quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock valued at $29,000 after purchasing an additional 121 shares in the last quarter. Stephens Consulting LLC lifted its position in ConocoPhillips by 69.3% in the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after purchasing an additional 104 shares during the period. Finally, Richardson Capital Management LLC acquired a new stake in ConocoPhillips during the first quarter worth $31,000. 82.36% of the stock is currently 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.