ConocoPhillips (NYSE:COP) Earns “Neutral” Rating from JPMorgan Chase & Co.

JPMorgan Chase & Co. reiterated their neutral rating on shares of ConocoPhillips (NYSE:COP) in a research report released on Friday morning, Benzinga reports. They currently have a $126.00 price objective on the energy producer’s stock, down from their prior price objective of $139.00.

Several other brokerages have also recently weighed in on COP. Mizuho reduced their price objective on shares of ConocoPhillips from $132.00 to $129.00 and set a neutral rating on the stock in a research note on Monday, September 16th. Truist Financial decreased their price target on ConocoPhillips from $145.00 to $138.00 and set a buy rating for the company in a research note on Monday, September 30th. Wells Fargo & Company cut their price objective on ConocoPhillips from $150.00 to $132.00 and set an overweight rating on the stock in a research note on Friday, September 27th. Wolfe Research initiated coverage on shares of ConocoPhillips in a research report on Thursday, July 18th. They set an outperform rating and a $145.00 target price for the company. Finally, StockNews.com downgraded shares of ConocoPhillips from a buy rating to a hold rating in a research report on Wednesday, July 17th. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $137.12.

ConocoPhillips Stock Down 1.2 %

Shares of COP opened at $110.50 on Friday. The firm has a 50 day simple moving average of $109.06 and a two-hundred day simple moving average of $115.62. The company has a market cap of $128.32 billion, a P/E ratio of 12.32, a P/E/G ratio of 0.88 and a beta of 1.21. ConocoPhillips has a one year low of $101.29 and a one year high of $135.18. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.33 and a quick ratio of 1.19.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.96 by $0.02. The firm had revenue of $14.14 billion for the quarter, compared to analysts’ expectations of $14.96 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The company’s revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.84 earnings per share. Research analysts forecast that ConocoPhillips will post 8.02 EPS for the current fiscal year.

ConocoPhillips Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were issued a $0.58 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.10%. ConocoPhillips’s dividend payout ratio (DPR) is presently 25.86%.

Insider Buying and Selling at ConocoPhillips

In related news, Director Timothy A. Leach sold 55,500 shares of ConocoPhillips stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total value of $6,000,105.00. Following the completion of the sale, the director now owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.34% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of COP. Valued Wealth Advisors LLC increased its position in shares of ConocoPhillips by 45.8% during the first quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer’s stock valued at $33,000 after buying an additional 82 shares during the period. Astoria Portfolio Advisors LLC. increased its position in shares of ConocoPhillips by 4.0% in the first quarter. Astoria Portfolio Advisors LLC. now owns 2,232 shares of the energy producer’s stock worth $291,000 after purchasing an additional 85 shares during the last quarter. Manchester Capital Management LLC raised its stake in ConocoPhillips by 22.1% in the first quarter. Manchester Capital Management LLC now owns 475 shares of the energy producer’s stock valued at $60,000 after purchasing an additional 86 shares in the last quarter. Adirondack Trust Co. lifted its position in ConocoPhillips by 3.1% during the fourth quarter. Adirondack Trust Co. now owns 2,990 shares of the energy producer’s stock valued at $336,000 after purchasing an additional 90 shares during the last quarter. Finally, Mayfair Advisory Group LLC grew its stake in ConocoPhillips by 3.5% in the 1st quarter. Mayfair Advisory Group LLC now owns 2,627 shares of the energy producer’s stock worth $334,000 after buying an additional 90 shares in the last quarter. 82.36% of the stock is currently 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.