ConocoPhillips (NYSE:COP – Free Report) had its price target boosted by Wells Fargo & Company from $134.00 to $138.00 in a research report sent to investors on Friday morning, Marketbeat.com reports. The firm currently has an overweight rating on the energy producer’s stock.
Several other analysts also recently commented on COP. Piper Sandler dropped their target price on shares of ConocoPhillips from $149.00 to $125.00 in a report on Tuesday, June 13th. Raymond James dropped their target price on shares of ConocoPhillips from $142.00 to $138.00 and set a strong-buy rating on the stock in a report on Monday, July 24th. UBS Group began coverage on shares of ConocoPhillips in a report on Wednesday, April 19th. They set a buy rating and a $139.00 target price on the stock. Wolfe Research raised shares of ConocoPhillips from a peer perform rating to an outperform rating and set a $120.00 price target for the company in a research note on Friday, July 7th. Finally, Mizuho raised their price target on shares of ConocoPhillips from $126.00 to $127.00 in a research note on Wednesday, July 12th. Five equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $133.40.
View Our Latest Stock Report on COP
ConocoPhillips Stock Performance
ConocoPhillips (NYSE:COP – Get Free Report) last released its earnings results on Thursday, August 3rd. The energy producer reported $1.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.94 by ($0.10). ConocoPhillips had a net margin of 18.66% and a return on equity of 27.27%. The business had revenue of $12.88 billion for the quarter, compared to analyst estimates of $14.64 billion. During the same quarter in the previous year, the company posted $3.91 earnings per share. Equities analysts anticipate that ConocoPhillips will post 8.82 earnings per share for the current year.
ConocoPhillips Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Wednesday, August 16th will be given a $0.51 dividend. The ex-dividend date is Tuesday, August 15th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.78%. ConocoPhillips’s payout ratio is presently 19.65%.
Institutional Investors Weigh In On ConocoPhillips
Institutional investors have recently modified their holdings of the business. Ten Capital Wealth Advisors LLC lifted its position in ConocoPhillips by 205.8% during the fourth quarter. Ten Capital Wealth Advisors LLC now owns 211 shares of the energy producer’s stock worth $25,000 after purchasing an additional 142 shares during the period. Jackson Grant Investment Advisers Inc. increased its position in ConocoPhillips by 398.1% during the 1st quarter. Jackson Grant Investment Advisers Inc. now owns 269 shares of the energy producer’s stock valued at $27,000 after purchasing an additional 215 shares during the period. Bogart Wealth LLC increased its position in ConocoPhillips by 138.2% during the 4th quarter. Bogart Wealth LLC now owns 243 shares of the energy producer’s stock valued at $29,000 after purchasing an additional 141 shares during the period. Northwest Bank & Trust Co acquired a new stake in shares of ConocoPhillips during the 2nd quarter worth approximately $29,000. Finally, Column Capital Advisors LLC acquired a new stake in shares of ConocoPhillips during the 4th quarter worth approximately $30,000. Institutional investors own 80.20% of the company’s stock.
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 and internationally. 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 global exploration prospects.
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