ConocoPhillips (NYSE:COP) Given New $95.00 Price Target at Scotiabank

ConocoPhillips (NYSE:COP) had its target price reduced by Scotiabank from $115.00 to $95.00 in a research report report published on Friday morning,Benzinga reports. Scotiabank currently has a sector perform rating on the energy producer’s stock.

COP has been the topic of several other reports. Wells Fargo & Company dropped their price objective on ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. TD Cowen started coverage on shares of ConocoPhillips in a research note on Friday, January 17th. They issued a “buy” rating and a $125.00 price target for the company. UBS Group lowered their price objective on shares of ConocoPhillips from $130.00 to $116.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. Raymond James downgraded shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and cut their target price for the stock from $157.00 to $124.00 in a research report on Monday, February 10th. Finally, JPMorgan Chase & Co. dropped their price target on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and an average price target of $130.79.

ConocoPhillips Stock Performance

Shares of COP stock opened at $86.36 on Friday. The company’s 50-day moving average is $96.51 and its 200 day moving average is $102.04. The company has a market capitalization of $109.17 billion, a price-to-earnings ratio of 11.09, a price-to-earnings-growth ratio of 0.79 and a beta of 0.83. ConocoPhillips has a one year low of $79.88 and a one year high of $135.18. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. Sell-side analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders 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 yield of 3.61%. ConocoPhillips’s dividend payout ratio (DPR) is 40.05%.

Institutional Investors Weigh In On ConocoPhillips

A number of institutional investors have recently modified their holdings of COP. Albion Financial Group UT lifted its stake in ConocoPhillips by 876.9% in the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after acquiring an additional 228 shares during the last quarter. Murphy & Mullick Capital Management Corp purchased a new position in shares of ConocoPhillips during the fourth quarter worth about $26,000. Centricity Wealth Management LLC purchased a new position in ConocoPhillips during the 4th quarter worth $27,000. 10Elms LLP acquired a new stake in shares of ConocoPhillips in the 4th quarter valued at approximately $28,000. Finally, Crowley Wealth Management Inc. purchased a new stake in ConocoPhillips during the fourth quarter worth about $32,000. 82.36% of the stock is owned by institutional investors and hedge funds.

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.