Wells Fargo & Company Increases ConocoPhillips (NYSE:COP) Price Target to $149.00

ConocoPhillips (NYSE:COP) had its target price boosted by Wells Fargo & Company from $141.00 to $149.00 in a report issued on Wednesday morning, Benzinga reports. They currently have an overweight rating on the energy producer’s stock.

Several other equities analysts also recently commented on the stock. Johnson Rice downgraded shares of ConocoPhillips from an accumulate rating to a hold rating in a research note on Thursday, December 14th. Truist Financial lowered their target price on shares of ConocoPhillips from $173.00 to $170.00 and set a buy rating for the company in a research note on Friday, April 5th. Raymond James lowered their target price on shares of ConocoPhillips from $140.00 to $137.00 and set a strong-buy rating for the company in a research note on Wednesday, January 24th. UBS Group boosted their target price on shares of ConocoPhillips from $138.00 to $143.00 and gave the stock a buy rating in a research note on Wednesday, February 14th. Finally, Susquehanna lowered their target price on shares of ConocoPhillips from $152.00 to $133.00 and set a positive rating for the company in a research note on Friday, January 26th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $140.59.

ConocoPhillips Stock Down 1.3 %

Shares of NYSE COP opened at $131.20 on Wednesday. The firm has a market cap of $154.34 billion, a price-to-earnings ratio of 14.48, a PEG ratio of 2.89 and a beta of 1.24. The company has a quick ratio of 1.29, a current ratio of 1.43 and a debt-to-equity ratio of 0.36. ConocoPhillips has a 52-week low of $95.70 and a 52-week high of $135.18. The business’s 50 day moving average is $118.84 and its two-hundred day moving average is $116.85.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.08 by $0.32. The company had revenue of $15.31 billion for the quarter, compared to analyst estimates of $14.47 billion. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. During the same quarter in the previous year, the company earned $2.71 earnings per share. Research analysts predict that ConocoPhillips will post 9.21 EPS for the current year.

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Monday, February 19th were given a $0.78 dividend. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend was Thursday, February 15th. ConocoPhillips’s dividend payout ratio (DPR) is 25.61%.

Insider Transactions at ConocoPhillips

In related news, EVP Nicholas G. Olds sold 12,150 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $126.44, for a total transaction of $1,536,246.00. Following the transaction, the executive vice president now directly owns 14,522 shares of the company’s stock, valued at $1,836,161.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Heather G. Hrap sold 4,548 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $110.55, for a total transaction of $502,781.40. Following the transaction, the senior vice president now directly owns 2,654 shares of the company’s stock, valued at $293,399.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Nicholas G. Olds sold 12,150 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $126.44, for a total transaction of $1,536,246.00. Following the completion of the sale, the executive vice president now directly owns 14,522 shares of the company’s stock, valued at $1,836,161.68. The disclosure for this sale can be found here. Insiders have sold a total of 700,775 shares of company stock valued at $87,615,169 over the last ninety days. Corporate insiders own 0.37% of the company’s stock.

Institutional Trading of ConocoPhillips

A number of institutional investors and hedge funds have recently modified their holdings of COP. Orion Capital Management LLC acquired a new position in ConocoPhillips during the 3rd quarter valued at $27,000. West Branch Capital LLC raised its stake in ConocoPhillips by 87.8% during the 4th quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock valued at $27,000 after purchasing an additional 108 shares during the last quarter. Sachetta LLC acquired a new position in ConocoPhillips during the 4th quarter valued at $27,000. Cooksen Wealth LLC acquired a new position in ConocoPhillips during the 4th quarter valued at $27,000. Finally, RVW Wealth LLC acquired a new position in ConocoPhillips during the 3rd quarter valued at $28,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

About ConocoPhillips

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.