JPMorgan Chase & Co. Lowers ConocoPhillips (NYSE:COP) Price Target to $102.00

ConocoPhillips (NYSE:COP) had its price target dropped by equities researchers at JPMorgan Chase & Co. from $112.00 to $102.00 in a report released on Monday,MarketScreener reports. The firm presently has an “overweight” rating on the energy producer’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 9.26% from the stock’s current price.

A number of other research analysts have also recently weighed in on COP. Wall Street Zen raised shares of ConocoPhillips from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Johnson Rice lowered ConocoPhillips from an “accumulate” rating to a “hold” rating and cut their price target for the company from $108.00 to $105.00 in a research note on Friday. BMO Capital Markets reduced their price target on ConocoPhillips from $122.00 to $117.00 and set a “buy” rating for the company in a report on Wednesday, November 12th. Mizuho dropped their price objective on ConocoPhillips from $125.00 to $120.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. Finally, Capital One Financial upped their target price on ConocoPhillips from $111.00 to $112.00 in a research note on Friday, October 3rd. Nineteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, ConocoPhillips currently has a consensus rating of “Moderate Buy” and an average target price of $114.38.

ConocoPhillips Stock Up 0.5%

ConocoPhillips stock opened at $93.36 on Monday. The business’s 50-day moving average price is $89.45 and its 200 day moving average price is $91.93. The company has a quick ratio of 1.18, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. The firm has a market cap of $115.36 billion, a price-to-earnings ratio of 13.20, a price-to-earnings-growth ratio of 2.09 and a beta of 0.32. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $106.20.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, November 6th. The energy producer reported $1.61 EPS for the quarter, topping the consensus estimate of $1.41 by $0.20. The business had revenue of $15.03 billion for the quarter, compared to analyst estimates of $14.51 billion. ConocoPhillips had a return on equity of 13.64% and a net margin of 14.25%.The business’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.78 EPS. As a group, sell-side analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current year.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, Director William H. Mcraven bought 5,768 shares of the company’s stock in a transaction dated Monday, November 10th. The stock was acquired at an average price of $86.68 per share, with a total value of $499,970.24. Following the completion of the acquisition, the director directly owned 5,768 shares of the company’s stock, valued at $499,970.24. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.24% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ConocoPhillips

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Capital International Investors lifted its stake in ConocoPhillips by 18.2% in the 3rd quarter. Capital International Investors now owns 45,645,397 shares of the energy producer’s stock worth $4,318,239,000 after purchasing an additional 7,037,873 shares in the last quarter. Primecap Management Co. CA lifted its position in ConocoPhillips by 66.0% during the second quarter. Primecap Management Co. CA now owns 7,883,455 shares of the energy producer’s stock worth $707,461,000 after buying an additional 3,135,315 shares in the last quarter. AQR Capital Management LLC boosted its stake in ConocoPhillips by 190.5% during the first quarter. AQR Capital Management LLC now owns 4,664,408 shares of the energy producer’s stock worth $484,539,000 after buying an additional 3,058,505 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in ConocoPhillips by 31.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 10,778,664 shares of the energy producer’s stock valued at $966,267,000 after buying an additional 2,575,803 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in ConocoPhillips by 145.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 2,933,286 shares of the energy producer’s stock valued at $263,233,000 after buying an additional 1,740,009 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

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.