ConocoPhillips (NYSE:COP) Price Target Lowered to $106.00 at Bank of America

ConocoPhillips (NYSE:COPFree Report) had its target price trimmed by Bank of America from $107.00 to $106.00 in a research report sent to investors on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the energy producer’s stock.

A number of other research firms have also recently commented on COP. Mizuho cut their target price on ConocoPhillips from $127.00 to $125.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 13th. Scotiabank lowered their price target on ConocoPhillips from $115.00 to $95.00 and set a “sector perform” rating for the company in a report on Friday, April 11th. Royal Bank of Canada lowered their price target on ConocoPhillips from $133.00 to $120.00 and set an “outperform” rating for the company in a report on Monday, April 14th. Piper Sandler lowered their price target on ConocoPhillips from $114.00 to $107.00 and set an “overweight” rating for the company in a report on Tuesday, May 13th. Finally, UBS Group lowered their price target on ConocoPhillips from $116.00 to $111.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. Three equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and an average target price of $121.89.

Read Our Latest Research Report on ConocoPhillips

ConocoPhillips Trading Down 1.1%

COP opened at $85.19 on Friday. The stock has a market cap of $107.69 billion, a price-to-earnings ratio of 10.94, a P/E/G ratio of 0.79 and a beta of 0.64. The stock’s 50 day moving average price is $92.15 and its 200-day moving average price is $98.37. ConocoPhillips has a one year low of $79.88 and a one year high of $119.23. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29.

ConocoPhillips (NYSE:COPGet Free Report) last released its earnings results on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, beating analysts’ consensus estimates of $2.05 by $0.04. The firm had revenue of $16.18 billion for the quarter, compared to analysts’ expectations of $15.74 billion. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. During the same quarter in the prior year, the firm posted $2.05 earnings per share. On average, equities analysts forecast that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be given a dividend of $0.78 per share. The ex-dividend date is Monday, May 19th. This represents a $3.12 annualized dividend and a yield of 3.66%. ConocoPhillips’s dividend payout ratio (DPR) is presently 39.64%.

Institutional Trading of ConocoPhillips

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Murphy & Mullick Capital Management Corp bought a new stake in ConocoPhillips during the 4th quarter valued at $26,000. Centricity Wealth Management LLC bought a new stake in ConocoPhillips during the 4th quarter valued at $27,000. 10Elms LLP bought a new stake in ConocoPhillips during the 4th quarter valued at $28,000. Financial Network Wealth Advisors LLC boosted its position in ConocoPhillips by 341.5% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock valued at $30,000 after acquiring an additional 222 shares in the last quarter. Finally, Stone House Investment Management LLC purchased a new stake in shares of ConocoPhillips during the 1st quarter valued at $31,000. Institutional investors own 82.36% of the company’s stock.

About ConocoPhillips

(Get Free Report)

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.

Further Reading

Analyst Recommendations for ConocoPhillips (NYSE:COP)

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