ConocoPhillips (NYSE:COP) Downgraded to “Outperform” Rating by Raymond James

Raymond James lowered shares of ConocoPhillips (NYSE:COP) from a strong-buy rating to an outperform rating in a research report released on Monday morning, Marketbeat reports. They currently have $124.00 target price on the energy producer’s stock, down from their prior target price of $157.00.

Several other equities research analysts also recently commented on the stock. Truist Financial upped their price objective on shares of ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a report on Monday, January 13th. Morgan Stanley started coverage on shares of ConocoPhillips in a report on Monday, December 16th. They set an “overweight” rating and a $128.00 price objective on the stock. TD Cowen started coverage on shares of ConocoPhillips in a report on Friday, January 17th. They set a “buy” rating and a $125.00 price objective on the stock. Mizuho raised shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $132.00 to $134.00 in a report on Monday, December 16th. Finally, Susquehanna increased their price target on shares of ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $133.56.

ConocoPhillips Price Performance

COP opened at $98.42 on Monday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.16. The company has a market capitalization of $113.27 billion, a price-to-earnings ratio of 12.63, a P/E/G ratio of 0.77 and a beta of 1.18. The firm’s fifty day moving average price is $100.83 and its two-hundred day moving average price is $105.97. ConocoPhillips has a 1 year low of $94.23 and a 1 year high of $135.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. As a group, analysts anticipate that ConocoPhillips will post 8.3 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 17th will be given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.17%. The ex-dividend date of this dividend is Friday, February 14th. ConocoPhillips’s dividend payout ratio is currently 40.05%.

Insider Buying and Selling at ConocoPhillips

In related news, Director R A. Walker purchased 10,400 shares of the stock in a transaction dated Tuesday, December 17th. The stock was purchased at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the transaction, the director now directly owns 38,000 shares in the company, valued at $3,716,400. This trade represents a 37.68 % 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 link. Also, Director Arjun N. Murti purchased 2,500 shares of the stock in a transaction dated Friday, December 20th. The stock was bought at an average cost of $95.87 per share, with a total value of $239,675.00. Following the transaction, the director now owns 21,500 shares in the company, valued at $2,061,205. The trade was a 13.16 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On ConocoPhillips

Several large investors have recently modified their holdings of COP. Albion Financial Group UT raised its position in shares of ConocoPhillips by 876.9% in the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after purchasing an additional 228 shares during the last quarter. Values First Advisors Inc. bought a new stake in ConocoPhillips in the 3rd quarter worth about $26,000. Murphy & Mullick Capital Management Corp bought a new stake in ConocoPhillips in the 4th quarter worth about $26,000. Centricity Wealth Management LLC bought a new stake in ConocoPhillips in the 4th quarter worth about $27,000. Finally, Reston Wealth Management LLC bought a new stake in ConocoPhillips in the 3rd quarter worth about $31,000. 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.