ConocoPhillips (NYSE:COP) PT Raised to $135.00

ConocoPhillips (NYSE:COP) had its price objective boosted by stock analysts at Scotiabank from $120.00 to $135.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “sector perform” rating on the energy producer’s stock. Scotiabank’s target price indicates a potential upside of 2.86% from the stock’s current price.

COP has been the topic of a number of other research reports. Mizuho reiterated a “neutral” rating and issued a $139.00 price target (up previously from $132.00) on shares of ConocoPhillips in a research report on Friday, March 22nd. Morgan Stanley boosted their price objective on ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Johnson Rice downgraded ConocoPhillips from an “accumulate” rating to a “hold” rating in a research note on Thursday, December 14th. Piper Sandler dropped their price target on ConocoPhillips from $139.00 to $133.00 and set an “overweight” rating on the stock in a research note on Thursday, March 14th. Finally, Raymond James dropped their price target on ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, January 24th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $140.59.

ConocoPhillips Price Performance

Shares of NYSE COP opened at $131.24 on Thursday. The stock has a market capitalization of $154.39 billion, a PE ratio of 14.49, a P/E/G ratio of 2.89 and a beta of 1.24. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.43 and a quick ratio of 1.29. The business has a fifty day moving average price of $118.84 and a two-hundred day moving average price of $116.88. ConocoPhillips has a fifty-two week low of $95.70 and a fifty-two week high of $135.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, February 8th. The energy producer reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.32. The company had revenue of $15.31 billion during the quarter, compared to analysts’ expectations of $14.47 billion. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. During the same quarter in the previous year, the firm earned $2.71 EPS. As a group, equities analysts predict that ConocoPhillips will post 9.21 earnings per share for the current fiscal year.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, CEO Ryan Michael Lance sold 607,000 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of $125.91, for a total transaction of $76,427,370.00. Following the completion of the transaction, the chief executive officer now directly owns 6,780 shares of the company’s stock, valued at $853,669.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO William L. Jr. Bullock sold 45,200 shares of ConocoPhillips stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $123.32, for a total value of $5,574,064.00. Following the completion of the transaction, the chief financial officer now directly owns 44,153 shares in the company, valued at $5,444,947.96. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Ryan Michael Lance sold 607,000 shares of ConocoPhillips stock in a transaction on Monday, March 25th. The shares were sold at an average price of $125.91, for a total value of $76,427,370.00. Following the completion of the transaction, the chief executive officer now owns 6,780 shares of the company’s stock, valued at $853,669.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 700,775 shares of company stock valued at $87,615,169. Company insiders own 0.37% of the company’s stock.

Hedge Funds Weigh In On ConocoPhillips

Hedge funds have recently made changes to their positions in the stock. Parkside Investments LLC boosted its stake in ConocoPhillips by 2.3% during the first quarter. Parkside Investments LLC now owns 105,028 shares of the energy producer’s stock valued at $13,368,000 after buying an additional 2,385 shares during the period. Community Bank of Raymore boosted its stake in ConocoPhillips by 3.4% during the first quarter. Community Bank of Raymore now owns 26,019 shares of the energy producer’s stock valued at $3,312,000 after buying an additional 860 shares during the period. Dynamic Advisor Solutions LLC boosted its stake in ConocoPhillips by 2.9% during the first quarter. Dynamic Advisor Solutions LLC now owns 22,157 shares of the energy producer’s stock valued at $2,820,000 after buying an additional 628 shares during the period. Northwest Quadrant Wealth Management LLC bought a new stake in ConocoPhillips during the first quarter valued at $219,000. Finally, Annex Advisory Services LLC boosted its stake in ConocoPhillips by 3.5% during the first quarter. Annex Advisory Services LLC now owns 61,889 shares of the energy producer’s stock valued at $7,877,000 after buying an additional 2,075 shares during the period. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

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.