ConocoPhillips (NYSE:COP) Price Target Raised to $151.00 at Wells Fargo & Company

ConocoPhillips (NYSE:COP) had its target price hoisted by Wells Fargo & Company from $149.00 to $151.00 in a research note issued to investors on Friday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the energy producer’s stock.

Several other research firms have also recently issued reports on COP. UBS Group boosted their price objective on shares of ConocoPhillips from $138.00 to $143.00 and gave the company a buy rating in a research report on Wednesday, February 14th. Raymond James dropped their price objective on ConocoPhillips from $140.00 to $137.00 and set a strong-buy rating on the stock in a research note on Wednesday, January 24th. Truist Financial decreased their target price on ConocoPhillips from $170.00 to $160.00 and set a buy rating for the company in a research report on Monday, April 29th. Mizuho reiterated a neutral rating and issued a $139.00 target price (up from $132.00) on shares of ConocoPhillips in a report on Friday, March 22nd. Finally, Scotiabank raised their price target on ConocoPhillips from $120.00 to $135.00 and gave the company a sector perform rating in a research note on Thursday, April 11th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $142.76.

ConocoPhillips Trading Down 0.0 %

NYSE COP traded down $0.02 during trading on Friday, hitting $122.23. The stock had a trading volume of 5,020,657 shares, compared to its average volume of 4,434,834. The stock has a market capitalization of $143.79 billion, a price-to-earnings ratio of 13.84, a P/E/G ratio of 2.68 and a beta of 1.25. The stock has a 50 day simple moving average of $123.85 and a 200 day simple moving average of $117.73. ConocoPhillips has a one year low of $95.81 and a one year high of $135.18. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.29 and a current ratio of 1.35.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, February 8th. The energy producer reported $2.40 EPS for the quarter, beating the consensus estimate of $2.08 by $0.32. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. The company had revenue of $15.31 billion for the quarter, compared to the consensus estimate of $14.47 billion. During the same quarter in the prior year, the company posted $2.71 EPS. Sell-side analysts predict that ConocoPhillips will post 9.11 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 13th will be given a $0.78 dividend. The ex-dividend date of this dividend is Friday, May 10th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.55%. ConocoPhillips’s payout ratio is 26.27%.

Insider Buying and Selling at ConocoPhillips

In other news, CFO William L. Jr. Bullock sold 45,200 shares of the business’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $123.32, for a total transaction of $5,574,064.00. Following the sale, the chief financial officer now owns 44,153 shares in the company, valued at $5,444,947.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO William L. Jr. Bullock sold 45,200 shares of ConocoPhillips stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $123.32, for a total transaction of $5,574,064.00. Following the completion of the sale, the chief financial officer now directly owns 44,153 shares in the company, valued at $5,444,947.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Nicholas G. Olds sold 12,150 shares of the company’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $126.44, for a total value of $1,536,246.00. Following the completion of the transaction, the executive vice president now directly owns 14,522 shares in the company, valued at $1,836,161.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 700,775 shares of company stock worth $87,615,169. 0.34% of the stock is owned by insiders.

Institutional Trading of ConocoPhillips

Several large investors have recently made changes to their positions in COP. Capital Investment Counsel Inc acquired a new stake in ConocoPhillips during the 3rd quarter worth about $228,000. Columbia Trust Co 01012016 raised its position in ConocoPhillips by 1.2% during the fourth quarter. Columbia Trust Co 01012016 now owns 9,463 shares of the energy producer’s stock valued at $1,098,000 after acquiring an additional 112 shares in the last quarter. Raymond James & Associates boosted its position in ConocoPhillips by 1.5% in the 4th quarter. Raymond James & Associates now owns 1,563,044 shares of the energy producer’s stock worth $181,422,000 after purchasing an additional 23,572 shares in the last quarter. Syon Capital LLC acquired a new stake in shares of ConocoPhillips during the 3rd quarter worth approximately $2,262,000. Finally, PFG Investments LLC purchased a new position in shares of ConocoPhillips during the 3rd quarter valued at approximately $233,000. 82.36% of the stock is owned by hedge funds and other 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.