ConocoPhillips (NYSE:COP) Price Target Lowered to $129.00 at Mizuho

ConocoPhillips (NYSE:COP) had its target price trimmed by Mizuho from $132.00 to $129.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a neutral rating on the energy producer’s stock.

Other analysts also recently issued research reports about the company. Barclays upped their target price on ConocoPhillips from $158.00 to $160.00 and gave the stock an overweight rating in a research note on Thursday, May 30th. StockNews.com lowered ConocoPhillips from a buy rating to a hold rating in a research report on Wednesday, July 17th. Bank of America reaffirmed a buy rating and set a $147.00 target price on shares of ConocoPhillips in a report on Friday, June 14th. Raymond James reissued a strong-buy rating and set a $159.00 price target (up from $155.00) on shares of ConocoPhillips in a report on Thursday, May 30th. Finally, Wolfe Research initiated coverage on shares of ConocoPhillips in a report on Thursday, July 18th. They issued an outperform rating and a $145.00 price objective for the company. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, ConocoPhillips has an average rating of Moderate Buy and a consensus price target of $142.29.

ConocoPhillips Stock Performance

COP opened at $110.51 on Monday. The company has a current ratio of 1.33, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 12-month low of $101.29 and a 12-month high of $135.18. The firm has a 50 day moving average of $109.82 and a two-hundred day moving average of $116.55. The firm has a market capitalization of $128.33 billion, a PE ratio of 12.52, a P/E/G ratio of 0.78 and a beta of 1.22.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.02. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The firm had revenue of $14.14 billion during the quarter, compared to analysts’ expectations of $14.96 billion. During the same quarter last year, the company posted $1.84 earnings per share. The firm’s revenue was up 9.7% compared to the same quarter last year. On average, analysts anticipate that ConocoPhillips will post 8.41 EPS for the current year.

ConocoPhillips Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 2.10%. The ex-dividend date was Monday, August 12th. ConocoPhillips’s payout ratio is 26.27%.

Insider Buying and Selling at ConocoPhillips

In other news, Director Timothy A. Leach sold 55,500 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the completion of the sale, the director now owns 455,909 shares of the company’s stock, valued at $49,288,321.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.34% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Sachetta LLC purchased a new position in ConocoPhillips during the fourth quarter worth approximately $27,000. Cooksen Wealth LLC acquired a new stake in shares of ConocoPhillips in the 4th quarter worth $27,000. Cape Investment Advisory Inc. raised its holdings in shares of ConocoPhillips by 96.0% during the 4th quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock worth $29,000 after acquiring an additional 121 shares during the period. Stephens Consulting LLC boosted its position in shares of ConocoPhillips by 69.3% during the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after acquiring an additional 104 shares during the last quarter. Finally, Richardson Capital Management LLC purchased a new stake in shares of ConocoPhillips in the first quarter valued at about $31,000. 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.