UBS Group Cuts ConocoPhillips (NYSE:COP) Price Target to $116.00

ConocoPhillips (NYSE:COP - Free Report) had its price target trimmed by UBS Group from $130.00 to $116.00 in a report released on Monday morning,Benzinga reports. The firm currently has a buy rating on the energy producer's stock.

A number of other equities research analysts have also commented on COP. Piper Sandler decreased their price objective 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. The Goldman Sachs Group set a $132.00 price target on shares of ConocoPhillips in a research note on Thursday, January 30th. Truist Financial upped their price objective on ConocoPhillips from $138.00 to $139.00 and gave the stock a "buy" rating in a report on Monday, January 13th. JPMorgan Chase & Co. lowered their target price on ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Finally, Barclays dropped their price target on shares of ConocoPhillips from $137.00 to $135.00 and set an "overweight" rating for the company in a research note on Monday, February 10th. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, ConocoPhillips presently has an average rating of "Moderate Buy" and an average target price of $130.79.

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ConocoPhillips Price Performance

COP stock traded up $3.07 during trading on Monday, hitting $86.36. The company had a trading volume of 9,231,132 shares, compared to its average volume of 7,047,207. The company has a fifty day moving average price of $96.80 and a two-hundred day moving average price of $102.17. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $135.18. The company has a market cap of $109.17 billion, a P/E ratio of 11.09, a P/E/G ratio of 0.79 and a beta of 0.83. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, topping the consensus estimate of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. Equities research analysts expect 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 paid a dividend of $0.78 per share. The ex-dividend date was Friday, February 14th. This represents a $3.12 annualized dividend and a dividend yield of 3.61%. ConocoPhillips's dividend payout ratio is currently 40.05%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Tidal Investments LLC boosted its stake in shares of ConocoPhillips by 42.7% during the 3rd quarter. Tidal Investments LLC now owns 103,553 shares of the energy producer's stock worth $10,902,000 after buying an additional 31,011 shares during the last quarter. Leavell Investment Management Inc. grew its stake in ConocoPhillips by 59.8% in the fourth quarter. Leavell Investment Management Inc. now owns 19,166 shares of the energy producer's stock valued at $1,901,000 after purchasing an additional 7,174 shares in the last quarter. Brookstone Capital Management grew its stake in ConocoPhillips by 4.5% in the fourth quarter. Brookstone Capital Management now owns 8,855 shares of the energy producer's stock valued at $878,000 after purchasing an additional 383 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of ConocoPhillips by 2.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,474,270 shares of the energy producer's stock worth $155,211,000 after purchasing an additional 32,948 shares in the last quarter. Finally, Fiduciary Alliance LLC boosted its holdings in shares of ConocoPhillips by 13.6% in the 4th quarter. Fiduciary Alliance LLC now owns 186,535 shares of the energy producer's stock valued at $18,499,000 after buying an additional 22,378 shares during the last quarter. Institutional investors and hedge funds 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.