ConocoPhillips (NYSE:COP) Price Target Raised to $116.00 at Sanford C. Bernstein

ConocoPhillips (NYSE:COP) had its price objective increased by Sanford C. Bernstein from $115.00 to $116.00 in a research note released on Friday morning,MarketScreener reports. They currently have an outperform rating on the energy producer’s stock.

Several other research firms have also issued reports on COP. Capital One Financial raised their price target on shares of ConocoPhillips from $111.00 to $112.00 in a research report on Friday, October 3rd. Susquehanna cut their price target on ConocoPhillips to $113.00 and set a “positive” rating for the company in a report on Monday, October 20th. Evercore ISI lowered their price objective on ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating for the company in a research report on Monday, October 6th. UBS Group decreased their target price on ConocoPhillips from $122.00 to $117.00 and set a “buy” rating for the company in a research report on Wednesday, November 12th. Finally, Piper Sandler dropped their price objective on shares of ConocoPhillips from $124.00 to $115.00 and set an “overweight” rating on the stock in a report on Monday, October 13th. Nineteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $115.16.

ConocoPhillips Stock Down 0.2%

NYSE:COP opened at $87.33 on Friday. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $112.73. The firm has a market capitalization of $107.92 billion, a PE ratio of 11.72, a price-to-earnings-growth ratio of 2.36 and a beta of 0.58. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. The stock has a 50 day moving average of $90.47 and a 200-day moving average of $91.87.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, November 6th. The energy producer reported $1.61 EPS for the quarter, topping the consensus estimate of $1.41 by $0.20. The firm had revenue of $15.03 billion for the quarter, compared to analysts’ expectations of $14.51 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.78 earnings per share. Analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Monday, November 17th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.78. ConocoPhillips’s dividend payout ratio (DPR) is currently 47.52%.

Insider Activity

In other news, Director William H. Mcraven acquired 5,768 shares of the business’s stock in a transaction on Monday, November 10th. The shares were purchased at an average cost of $86.68 per share, with a total value of $499,970.24. Following the acquisition, the director directly owned 5,768 shares of the company’s stock, valued at $499,970.24. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.24% of the stock is owned by corporate insiders.

Institutional Trading of ConocoPhillips

Several institutional investors and hedge funds have recently modified their holdings of the business. CIBC Bancorp USA Inc. purchased a new stake in ConocoPhillips during the third quarter valued at about $16,344,000. WBI Investments LLC grew its position in ConocoPhillips by 698.2% during the 3rd quarter. WBI Investments LLC now owns 22,079 shares of the energy producer’s stock valued at $2,088,000 after purchasing an additional 19,313 shares during the last quarter. Centaurus Financial Inc. lifted its holdings in shares of ConocoPhillips by 29.9% during the third quarter. Centaurus Financial Inc. now owns 7,503 shares of the energy producer’s stock valued at $710,000 after purchasing an additional 1,725 shares in the last quarter. Tweedy Browne Co LLC lifted its holdings in shares of ConocoPhillips by 16.0% during the 3rd quarter. Tweedy Browne Co LLC now owns 24,721 shares of the energy producer’s stock valued at $2,338,000 after buying an additional 3,417 shares during the period. Finally, Coldstream Capital Management Inc. raised its position in ConocoPhillips by 4.5% in the third quarter. Coldstream Capital Management Inc. now owns 35,932 shares of the energy producer’s stock worth $3,399,000 after acquiring an additional 1,563 shares during the period. Hedge funds and other institutional investors own 82.36% 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, 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.