The Goldman Sachs Group Has Lowered Expectations for ConocoPhillips (NYSE:COP) Stock Price

by · The Markets Daily

ConocoPhillips (NYSE:COP – Get Free Report) had its price target cut by research analysts at The Goldman Sachs Group from $144.00 to $138.00 in a research report issued to clients and investors on Tuesday,MarketScreener reports. The brokerage presently has a “buy” rating on the energy producer’s stock. The Goldman Sachs Group’s target price indicates a potential upside of 32.01% from the stock’s previous close.

Several other analysts also recently commented on the stock. UBS Group upped their price objective on shares of ConocoPhillips from $130.00 to $144.00 and gave the company a “buy” rating in a report on Thursday, March 5th. Zacks Research cut shares of ConocoPhillips from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 27th. Mizuho upped their price target on shares of ConocoPhillips from $136.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. Royal Bank Of Canada set a $130.00 price target on ConocoPhillips in a research report on Monday, June 22nd. Finally, Barclays lifted their price objective on ConocoPhillips from $136.00 to $155.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. Eighteen equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $134.76.

Get Our Latest Stock Analysis on COP

ConocoPhillips Stock Up 0.3%

Shares of NYSE:COP opened at $104.54 on Tuesday. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34. The stock has a fifty day simple moving average of $116.94 and a two-hundred day simple moving average of $112.02. ConocoPhillips has a 12-month low of $85.57 and a 12-month high of $135.87. The stock has a market capitalization of $127.36 billion, a price-to-earnings ratio of 17.73, a PEG ratio of 1.17 and a beta of 0.11.

ConocoPhillips (NYSE:COP – Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, topping the consensus estimate of $1.72 by $0.17. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The firm had revenue of $15.76 billion for the quarter, compared to the consensus estimate of $15.62 billion. During the same quarter last year, the company earned $2.09 earnings per share. The business’s revenue for the quarter was down 6.1% compared to the same quarter last year. On average, research analysts anticipate that ConocoPhillips will post 10.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ConocoPhillips

A number of institutional investors and hedge funds have recently modified their holdings of COP. Capital International Investors grew its position in ConocoPhillips by 18.2% during the third quarter. Capital International Investors now owns 45,645,397 shares of the energy producer’s stock valued at $4,318,239,000 after acquiring an additional 7,037,873 shares during the period. AQR Capital Management LLC grew its stake in shares of ConocoPhillips by 229.2% in the fourth quarter. AQR Capital Management LLC now owns 3,595,177 shares of the energy producer’s stock valued at $336,544,000 after buying an additional 2,503,156 shares in the last quarter. Janus Henderson Group PLC lifted its position in ConocoPhillips by 207.9% during the 1st quarter. Janus Henderson Group PLC now owns 3,697,232 shares of the energy producer’s stock worth $488,030,000 after acquiring an additional 2,496,606 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of ConocoPhillips by 6.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 41,450,162 shares of the energy producer’s stock valued at $3,880,151,000 after purchasing an additional 2,350,645 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its holdings in ConocoPhillips by 46,105.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,310,281 shares of the energy producer’s stock valued at $304,957,000 after purchasing an additional 2,305,281 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

About ConocoPhillips

(Get Free Report)

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.

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