ConocoPhillips (NYSE:COP) Price Target Cut to $113.00 by Analysts at Wells Fargo & Company

ConocoPhillips (NYSE:COP) had its target price trimmed by Wells Fargo & Company from $116.00 to $113.00 in a research note published on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the energy producer’s stock.

Other equities research analysts also recently issued research reports about the company. JPMorgan Chase & Co. reduced their target price on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. TD Cowen initiated coverage on ConocoPhillips in a report on Friday, January 17th. They set a “buy” rating and a $125.00 price objective for the company. UBS Group cut their price target on ConocoPhillips from $116.00 to $111.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th. The Goldman Sachs Group set a $132.00 price objective on shares of ConocoPhillips in a research note on Thursday, January 30th. Finally, Susquehanna cut their target price on shares of ConocoPhillips from $120.00 to $114.00 and set a “positive” rating for the company in a research report on Monday. Three investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus price target of $122.74.

ConocoPhillips Trading Down 1.5%

NYSE:COP opened at $92.72 on Wednesday. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $122.11. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The stock’s 50 day simple moving average is $93.29 and its 200-day simple moving average is $99.20. The firm has a market cap of $117.21 billion, a P/E ratio of 11.90, a PEG ratio of 0.79 and a beta of 0.64.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.04. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. The company had revenue of $16.18 billion for the quarter, compared to analysts’ expectations of $15.74 billion. During the same period in the previous year, the company posted $2.05 EPS. Equities analysts anticipate that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be paid a dividend of $0.78 per share. The ex-dividend date is Monday, May 19th. This represents a $3.12 annualized dividend and a yield of 3.36%. ConocoPhillips’s dividend payout ratio is presently 39.64%.

Institutional Investors Weigh In On ConocoPhillips

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of ConocoPhillips by 11.7% in the fourth quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer’s stock valued at $12,081,491,000 after purchasing an additional 12,751,120 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in ConocoPhillips by 13.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer’s stock valued at $4,546,706,000 after purchasing an additional 5,549,078 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in ConocoPhillips by 379.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer’s stock valued at $4,210,751,000 after purchasing an additional 31,736,423 shares in the last quarter. Wellington Management Group LLP increased its holdings in ConocoPhillips by 1.4% during the 1st quarter. Wellington Management Group LLP now owns 31,610,608 shares of the energy producer’s stock worth $3,319,746,000 after purchasing an additional 437,709 shares during the last quarter. Finally, Capital International Investors raised its position in shares of ConocoPhillips by 4.9% in the 4th quarter. Capital International Investors now owns 31,287,113 shares of the energy producer’s stock valued at $3,101,989,000 after purchasing an additional 1,473,027 shares in the last quarter. 82.36% of the stock is currently 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.