Sanford C. Bernstein Issues Positive Forecast for ConocoPhillips (NYSE:COP) Stock Price
by Amy Steele · The Cerbat GemConocoPhillips (NYSE:COP – Get Free Report) had its price objective raised by research analysts at Sanford C. Bernstein from $98.00 to $121.00 in a research note issued on Monday,MarketScreener reports. The firm presently has an “outperform” rating on the energy producer’s stock. Sanford C. Bernstein’s target price points to a potential downside of 3.26% from the company’s previous close.
Other analysts also recently issued research reports about the stock. Jefferies Financial Group lifted their price target on shares of ConocoPhillips from $129.00 to $160.00 and gave the company a “buy” rating in a research note on Monday. Raymond James Financial raised their price target on ConocoPhillips from $113.00 to $118.00 and gave the company an “outperform” rating in a research note on Wednesday, February 11th. Bank of America reaffirmed an “underperform” rating and issued a $102.00 price objective on shares of ConocoPhillips in a research note on Friday, January 16th. The Goldman Sachs Group increased their target price on shares of ConocoPhillips from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, February 6th. Finally, Scotiabank raised shares of ConocoPhillips to a “hold” rating in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus target price of $129.24.
View Our Latest Research Report on ConocoPhillips
ConocoPhillips Stock Up 2.1%
NYSE:COP opened at $125.08 on Monday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.30 and a quick ratio of 1.14. The firm’s 50-day moving average price is $118.47 and its 200-day moving average price is $101.66. The company has a market capitalization of $152.45 billion, a PE ratio of 19.68, a P/E/G ratio of 2.37 and a beta of 0.19. ConocoPhillips has a 1-year low of $84.28 and a 1-year high of $135.87.
ConocoPhillips (NYSE:COP – Get Free Report) last released its quarterly earnings data on Thursday, February 5th. The energy producer reported $1.02 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.21). The business had revenue of $13.86 billion for the quarter, compared to analysts’ expectations of $14.35 billion. ConocoPhillips had a net margin of 12.98% and a return on equity of 11.90%. The company’s quarterly revenue was down 3.7% on a year-over-year basis. During the same period last year, the business earned $1.98 earnings per share. On average, equities analysts predict that ConocoPhillips will post 8.16 EPS for the current fiscal year.
Insider Activity at ConocoPhillips
In other news, SVP Kelly Brunetti Rose sold 8,500 shares of ConocoPhillips stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $118.04, for a total transaction of $1,003,340.00. Following the completion of the transaction, the senior vice president directly owned 32,984 shares of the company’s stock, valued at $3,893,431.36. The trade was a 20.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Andrew D. Lundquist sold 34,500 shares of the stock in a transaction on Friday, March 13th. The stock was sold at an average price of $119.68, for a total transaction of $4,128,960.00. Following the sale, the senior vice president directly owned 17,469 shares in the company, valued at $2,090,689.92. This trade represents a 66.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 734,891 shares of company stock valued at $93,345,692 in the last 90 days. 0.09% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On ConocoPhillips
Several hedge funds have recently modified their holdings of the company. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in shares of ConocoPhillips in the 4th quarter valued at about $25,000. Cloud Capital Management LLC acquired a new position in ConocoPhillips in the 3rd quarter worth about $26,000. KERR FINANCIAL PLANNING Corp purchased a new position in ConocoPhillips during the third quarter worth approximately $28,000. Board of the Pension Protection Fund acquired a new stake in ConocoPhillips in the fourth quarter valued at approximately $28,000. Finally, Strive Asset Management LLC acquired a new stake in ConocoPhillips in the third quarter valued at approximately $28,000. 82.36% of the stock is owned by hedge funds and other institutional investors.
ConocoPhillips Company Profile
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.