ConocoPhillips (NYSE:COP) Price Target Raised to $140.00 at Bank of America

ConocoPhillips (NYSE:COPGet Rating) had its price objective raised by Bank of America from $134.00 to $140.00 in a research note published on Monday morning, Marketbeat.com reports. The firm currently has a buy rating on the energy producer’s stock.

Several other research analysts have also commented on COP. Societe Generale lifted their price objective on shares of ConocoPhillips to $127.00 in a research note on Thursday, June 9th. Morgan Stanley boosted their price target on ConocoPhillips from $117.00 to $118.00 and gave the stock an overweight rating in a research note on Monday, August 29th. Mizuho dropped their price target on ConocoPhillips from $148.00 to $138.00 and set a buy rating on the stock in a research note on Thursday, August 18th. The Goldman Sachs Group dropped their target price on ConocoPhillips from $140.00 to $123.00 and set a buy rating on the stock in a research report on Wednesday, June 22nd. Finally, MKM Partners upped their target price on ConocoPhillips from $110.00 to $118.00 and gave the company a buy rating in a research report on Friday, August 26th. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ConocoPhillips has an average rating of Moderate Buy and a consensus price target of $121.79.

ConocoPhillips Stock Performance

Shares of COP stock opened at $112.87 on Monday. ConocoPhillips has a one year low of $56.30 and a one year high of $124.08. The company’s 50-day moving average is $100.18 and its 200 day moving average is $100.95. The company has a market capitalization of $145.99 billion, a price-to-earnings ratio of 9.32, a price-to-earnings-growth ratio of 0.37 and a beta of 1.31. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.44 and a current ratio of 1.54.

ConocoPhillips (NYSE:COPGet Rating) last issued its quarterly earnings data on Thursday, August 4th. The energy producer reported $3.91 earnings per share for the quarter, missing the consensus estimate of $3.95 by ($0.04). ConocoPhillips had a return on equity of 31.24% and a net margin of 23.10%. During the same quarter in the prior year, the firm posted $1.27 earnings per share. Sell-side analysts expect that ConocoPhillips will post 14.68 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently announced a None dividend, which will be paid on Friday, October 14th. Stockholders of record on Thursday, September 29th will be issued a $1.40 dividend. The ex-dividend date of this dividend is Thursday, September 29th. ConocoPhillips’s payout ratio is currently 15.19%.

Insider Activity

In related news, EVP Nicholas G. Olds sold 10,950 shares of the stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $116.52, for a total transaction of $1,275,894.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.40% of the company’s stock.

Institutional Investors Weigh In On ConocoPhillips

Institutional investors have recently added to or reduced their stakes in the company. James Investment Research Inc. bought a new position in shares of ConocoPhillips in the first quarter valued at approximately $29,000. Fairfield Bush & CO. bought a new stake in shares of ConocoPhillips during the 1st quarter valued at $31,000. Versant Capital Management Inc grew its holdings in shares of ConocoPhillips by 93.1% in the 1st quarter. Versant Capital Management Inc now owns 365 shares of the energy producer’s stock valued at $37,000 after buying an additional 176 shares during the period. Delos Wealth Advisors LLC grew its holdings in shares of ConocoPhillips by 1,300.0% in the 4th quarter. Delos Wealth Advisors LLC now owns 378 shares of the energy producer’s stock valued at $27,000 after buying an additional 351 shares during the period. Finally, DeDora Capital Inc. acquired a new position in shares of ConocoPhillips in the 1st quarter valued at $39,000. 79.66% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Company Profile

(Get Rating)

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. It primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.

Further Reading

Analyst Recommendations for ConocoPhillips (NYSE:COP)

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