ConocoPhillips (NYSE:COP) Given New $126.00 Price Target at Morgan Stanley

ConocoPhillips (NYSE:COP) had its price objective reduced by Morgan Stanley from $131.00 to $126.00 in a research note published on Thursday morning,Benzinga reports. They currently have an overweight rating on the energy producer’s stock.

COP has been the subject of several other reports. UBS Group lowered their price objective on ConocoPhillips from $140.00 to $137.00 and set a “buy” rating for the company in a research note on Wednesday, February 12th. Raymond James lowered shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the stock from $157.00 to $124.00 in a research note on Monday, February 10th. Barclays reduced their target price on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. Piper Sandler cut their price target on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Finally, TD Cowen initiated coverage on shares of ConocoPhillips in a research report on Friday, January 17th. They issued a “buy” rating and a $125.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $132.95.

ConocoPhillips Trading Down 0.4 %

COP stock opened at $102.37 on Thursday. The firm has a fifty day moving average price of $98.95 and a 200 day moving average price of $103.27. ConocoPhillips has a fifty-two week low of $86.81 and a fifty-two week high of $135.18. The firm has a market cap of $130.26 billion, a PE ratio of 13.14, a price-to-earnings-growth ratio of 0.79 and a beta of 1.12. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. Sell-side analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were given a $0.78 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.12 annualized dividend and a dividend yield of 3.05%. ConocoPhillips’s payout ratio is presently 40.05%.

Hedge Funds Weigh In On ConocoPhillips

Institutional investors have recently bought and sold shares of the business. Albion Financial Group UT grew 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 buying an additional 228 shares during the last quarter. Murphy & Mullick Capital Management Corp purchased a new position in ConocoPhillips in the fourth quarter worth $26,000. Centricity Wealth Management LLC acquired a new position in shares of ConocoPhillips during the fourth quarter worth $27,000. 10Elms LLP purchased a new stake in shares of ConocoPhillips during the 4th quarter valued at $28,000. Finally, Truvestments Capital LLC acquired a new stake in shares of ConocoPhillips in the 3rd quarter worth $31,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

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.