Argus Raises ConocoPhillips (NYSE:COP) Price Target to $150.00

ConocoPhillips (NYSE:COPGet Rating) had its price target upped by Argus from $125.00 to $150.00 in a research report released on Monday, The Fly reports.

Several other analysts also recently issued reports on the stock. Bank of America lifted their price target on shares of ConocoPhillips from $134.00 to $140.00 and gave the company a buy rating in a research report on Monday, September 19th. The Goldman Sachs Group lifted their price target on shares of ConocoPhillips from $128.00 to $142.00 and gave the company a buy rating in a research report on Friday, November 4th. Credit Suisse Group lifted their price target on shares of ConocoPhillips from $134.00 to $145.00 and gave the company an outperform rating in a research report on Friday, November 4th. Societe Generale downgraded shares of ConocoPhillips from a hold rating to a sell rating and lifted their price objective for the stock from $106.00 to $114.00 in a report on Monday. They noted that the move was a valuation call. Finally, Truist Financial lifted their price objective on shares of ConocoPhillips from $149.00 to $167.00 in a report on Monday, November 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, ConocoPhillips currently has an average rating of Moderate Buy and a consensus price target of $133.76.

ConocoPhillips Stock Performance

NYSE COP opened at $126.74 on Monday. The company has a fifty day simple moving average of $120.51 and a 200 day simple moving average of $108.00. ConocoPhillips has a 12-month low of $66.06 and a 12-month high of $138.49. The company has a current ratio of 1.46, a quick ratio of 1.37 and a debt-to-equity ratio of 0.33. The company has a market cap of $157.93 billion, a P/E ratio of 9.13, a PEG ratio of 0.46 and a beta of 1.32.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 13th. Stockholders of record on Tuesday, December 27th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.61%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.46. The ex-dividend date is Friday, December 23rd. ConocoPhillips’s payout ratio is presently 14.70%.

Insider Transactions at ConocoPhillips

In related news, EVP Nicholas G. Olds sold 10,950 shares of the business’s stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of $134.90, for a total value of $1,477,155.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.08% of the company’s stock.

Institutional Investors Weigh In On ConocoPhillips

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in ConocoPhillips by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 113,171,744 shares of the energy producer’s stock valued at $11,581,996,000 after acquiring an additional 374,994 shares during the period. Wellington Management Group LLP raised its stake in ConocoPhillips by 1.1% in the 1st quarter. Wellington Management Group LLP now owns 37,616,360 shares of the energy producer’s stock valued at $3,761,636,000 after acquiring an additional 408,012 shares during the period. Massachusetts Financial Services Co. MA raised its stake in ConocoPhillips by 6.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 24,361,278 shares of the energy producer’s stock valued at $2,493,134,000 after acquiring an additional 1,494,751 shares during the period. Capital World Investors raised its stake in ConocoPhillips by 62.4% in the 1st quarter. Capital World Investors now owns 23,463,085 shares of the energy producer’s stock valued at $2,346,309,000 after acquiring an additional 9,014,700 shares during the period. Finally, FMR LLC raised its stake in ConocoPhillips by 64.8% in the 2nd quarter. FMR LLC now owns 21,177,310 shares of the energy producer’s stock valued at $1,901,935,000 after acquiring an additional 8,323,587 shares during the period. 79.66% of the stock is currently owned by institutional investors.

About ConocoPhillips

(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.

See Also

The Fly logo

Analyst Recommendations for ConocoPhillips (NYSE:COP)

Receive News & Ratings for ConocoPhillips Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ConocoPhillips and related companies with MarketBeat.com's FREE daily email newsletter.