ConocoPhillips (NYSE:COP) PT Lowered to $115.00

by · The Markets Daily

ConocoPhillips (NYSE:COP – Get Free Report) had its price target decreased by analysts at Scotiabank from $120.00 to $115.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “sector perform” rating on the energy producer’s stock. Scotiabank’s target price points to a potential upside of 4.07% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. Sanford C. Bernstein decreased their target price on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. Truist Financial lowered their target price on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Mizuho reduced their price target on ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Susquehanna dropped their price objective on ConocoPhillips from $154.00 to $147.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. Finally, Wolfe Research started coverage on ConocoPhillips in a research report on Thursday, July 18th. They issued an “outperform” rating and a $145.00 price objective for the company. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $137.12.

Get Our Latest Stock Report on ConocoPhillips

ConocoPhillips Price Performance

NYSE COP opened at $110.50 on Thursday. The firm’s fifty day simple moving average is $109.06 and its two-hundred day simple moving average is $115.62. The firm has a market capitalization 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. The company has a current ratio of 1.33, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 12-month low of $101.29 and a 12-month high of $135.18.

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

Insider Transactions at ConocoPhillips

In related news, Director Timothy A. Leach sold 55,500 shares of the stock in a transaction on 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 transaction, the director now owns 455,909 shares of the company’s stock, valued at $49,288,321.99. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in COP. Iams Wealth Management LLC increased its stake in ConocoPhillips by 11.6% in the third quarter. Iams Wealth Management LLC now owns 18,203 shares of the energy producer’s stock valued at $1,916,000 after purchasing an additional 1,895 shares during the last quarter. Creative Planning boosted its holdings in shares of ConocoPhillips by 1.7% in the 3rd quarter. Creative Planning now owns 248,439 shares of the energy producer’s stock valued at $26,156,000 after buying an additional 4,214 shares in the last quarter. CX Institutional grew its position in shares of ConocoPhillips by 4.3% in the 3rd quarter. CX Institutional now owns 53,547 shares of the energy producer’s stock valued at $5,637,000 after buying an additional 2,206 shares during the last quarter. Wedge Capital Management L L P NC raised its stake in ConocoPhillips by 7.4% during the 3rd quarter. Wedge Capital Management L L P NC now owns 2,168 shares of the energy producer’s stock worth $228,000 after acquiring an additional 150 shares in the last quarter. Finally, Fiduciary Alliance LLC lifted its position in ConocoPhillips by 0.5% in the third quarter. Fiduciary Alliance LLC now owns 164,157 shares of the energy producer’s stock valued at $17,282,000 after acquiring an additional 865 shares during the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Company Profile

(Get Free Report)

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.

See Also