ConocoPhillips (NYSE:COP) Price Target Raised to $109.00 at Raymond James

ConocoPhillips (NYSE:COP) had its price objective raised by Raymond James from $103.00 to $109.00 in a research report report published on Tuesday,Benzinga reports. The brokerage currently has an outperform rating on the energy producer’s stock.

A number of other equities research analysts have also commented on the company. The Goldman Sachs Group set a $132.00 price objective on ConocoPhillips in a research report on Thursday, January 30th. Susquehanna decreased their price objective on ConocoPhillips from $120.00 to $114.00 and set a “positive” rating for the company in a research report on Monday, May 12th. Royal Bank of Canada decreased their price objective on ConocoPhillips from $133.00 to $120.00 and set an “outperform” rating for the company in a research report on Monday, April 14th. Barclays decreased their price objective on ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. Finally, UBS Group decreased their price objective on ConocoPhillips from $116.00 to $111.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. Three investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.95.

ConocoPhillips Trading Down 0.9%

Shares of NYSE COP opened at $89.63 on Tuesday. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $121.73. The company has a market cap of $113.31 billion, a price-to-earnings ratio of 11.51, a P/E/G ratio of 0.79 and a beta of 0.64. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The business has a fifty day simple moving average of $92.96 and a 200-day simple moving average of $98.77.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, beating the consensus estimate of $2.05 by $0.04. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. The business had revenue of $16.18 billion during the quarter, compared to the consensus estimate of $15.74 billion. During the same period in the prior year, the business posted $2.05 earnings per share. Sell-side analysts predict 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. Stockholders of record on Monday, May 19th will be paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date of this dividend is Monday, May 19th. ConocoPhillips’s dividend payout ratio (DPR) is presently 39.64%.

Institutional Investors Weigh In On ConocoPhillips

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Tallon Kerry Patrick bought a new position in shares of ConocoPhillips in the 4th quarter valued at approximately $511,000. Wedge Capital Management L L P NC raised its stake in shares of ConocoPhillips by 18.1% in the 4th quarter. Wedge Capital Management L L P NC now owns 2,561 shares of the energy producer’s stock valued at $254,000 after acquiring an additional 393 shares in the last quarter. Ameritas Advisory Services LLC raised its stake in shares of ConocoPhillips by 126.4% in the 4th quarter. Ameritas Advisory Services LLC now owns 15,354 shares of the energy producer’s stock valued at $1,523,000 after acquiring an additional 8,572 shares in the last quarter. Evanson Asset Management LLC bought a new position in shares of ConocoPhillips in the 4th quarter valued at approximately $239,000. Finally, Gilman Hill Asset Management LLC bought a new position in shares of ConocoPhillips in the 4th quarter valued at approximately $217,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

About ConocoPhillips

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.