Capital One Financial lowered shares of ConocoPhillips (NYSE:COP – Get Rating) from an overweight rating to an equal weight rating in a research note issued to investors on Friday, MarketBeat.com reports. The firm currently has $102.00 price target on the energy producer's stock. Capital One Financial also issued estimates for ConocoPhillips' Q1 2023 earnings at $2.38 EPS, Q2 2023 earnings at $2.42 EPS, Q3 2023 earnings at $2.37 EPS, Q4 2023 earnings at $2.43 EPS, FY2023 earnings at $9.59 EPS and FY2024 earnings at $8.89 EPS.
COP has been the subject of a number of other research reports. Barclays increased their price objective on ConocoPhillips from $151.00 to $160.00 and gave the stock an overweight rating in a report on Monday, January 23rd. Scotiabank downgraded ConocoPhillips from a sector outperform rating to a sector perform rating and decreased their price objective for the stock from $145.00 to $140.00 in a report on Tuesday, January 17th. Societe Generale downgraded ConocoPhillips from a hold rating to a sell rating and increased their price objective for the stock from $106.00 to $114.00 in a report on Monday, November 21st. They noted that the move was a valuation call. Royal Bank of Canada increased their price objective on ConocoPhillips from $135.00 to $140.00 and gave the stock an outperform rating in a report on Monday, November 7th. Finally, Wells Fargo & Company increased their price objective on ConocoPhillips from $154.00 to $156.00 and gave the stock an overweight rating in a report on Tuesday, January 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $137.95.
Get ConocoPhillips alerts:ConocoPhillips Price Performance
Shares of ConocoPhillips stock opened at $108.11 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.46 and a debt-to-equity ratio of 0.34. The company has a market cap of $134.71 billion, a PE ratio of 7.45, a P/E/G ratio of 0.52 and a beta of 1.27. The business has a 50 day moving average of $117.74 and a 200 day moving average of $113.91. ConocoPhillips has a 52 week low of $78.30 and a 52 week high of $138.49.
ConocoPhillips (NYSE:COP – Get Rating) last announced its earnings results on Thursday, February 2nd. The energy producer reported $2.71 EPS for the quarter, missing analysts' consensus estimates of $2.72 by ($0.01). The business had revenue of $19.26 billion for the quarter, compared to the consensus estimate of $18.16 billion. ConocoPhillips had a net margin of 22.74% and a return on equity of 35.30%. ConocoPhillips's revenue was up 20.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.27 EPS. As a group, equities research analysts forecast that ConocoPhillips will post 11.72 earnings per share for the current year.ConocoPhillips Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 1st. Investors of record on Tuesday, February 14th will be given a dividend of $0.51 per share. The ex-dividend date is Monday, February 13th. This represents a $2.04 annualized dividend and a dividend yield of 1.89%. ConocoPhillips's dividend payout ratio (DPR) is presently 14.06%.
Insider Activity at ConocoPhillips
In other ConocoPhillips news, EVP Nicholas G. Olds sold 10,950 shares of the 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. In other ConocoPhillips news, Director Timothy A. Leach sold 4,860 shares of the stock in a transaction dated Thursday, December 15th. The stock was sold at an average price of $112.58, for a total value of $547,138.80. Following the transaction, the director now owns 661,142 shares of the company's stock, valued at $74,431,366.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Nicholas G. Olds sold 10,950 shares of the stock in a transaction dated Tuesday, November 8th. The shares were sold at an average price of $134.90, for a total value of $1,477,155.00. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of COP. Fairfield Bush & CO. bought a new position in shares of ConocoPhillips in the first quarter worth about $31,000. Cetera Investment Advisers raised its stake in shares of ConocoPhillips by 4.0% in the first quarter. Cetera Investment Advisers now owns 25,399 shares of the energy producer's stock worth $2,540,000 after buying an additional 968 shares during the period. Baird Financial Group Inc. raised its stake in shares of ConocoPhillips by 1.9% in the first quarter. Baird Financial Group Inc. now owns 512,126 shares of the energy producer's stock worth $51,213,000 after buying an additional 9,313 shares during the period. Zions Bancorporation N.A. raised its stake in shares of ConocoPhillips by 59.1% in the first quarter. Zions Bancorporation N.A. now owns 1,810 shares of the energy producer's stock worth $181,000 after buying an additional 672 shares during the period. Finally, Brown Brothers Harriman & Co. raised its stake in shares of ConocoPhillips by 21.3% in the first quarter. Brown Brothers Harriman & Co. now owns 14,063 shares of the energy producer's stock worth $1,406,000 after buying an additional 2,465 shares during the period. Institutional investors own 81.76% of the company's stock.
About ConocoPhillips
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ConocoPhillips engages in the exploration, production, transportation and marketing of crude oil, bitumen, natural gas, natural gas liquids, and liquefied natural gas on a worldwide basis. It operates through the following geographical segments: Alaska, Lower 48, Canada, Europe, Middle East and North Africa, Asia Pacific, and Other International.
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