ConocoPhillips (NYSE:COP) Given New $115.00 Price Target at Citigroup

ConocoPhillips (NYSE:COPGet Free Report) had its price target decreased by investment analysts at Citigroup from $140.00 to $115.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the energy producer’s stock. Citigroup’s target price suggests a potential upside of 21.44% from the company’s current price.

Several other equities research analysts also recently weighed in on the company. Raymond James reaffirmed an “outperform” rating and set a $109.00 price target (up from $103.00) on shares of ConocoPhillips in a report on Tuesday, May 20th. Piper Sandler cut their price objective on ConocoPhillips from $114.00 to $107.00 and set an “overweight” rating for the company in a research report on Tuesday, May 13th. Wells Fargo & Company lowered their price target on shares of ConocoPhillips from $116.00 to $113.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 14th. UBS Group cut their price target on shares of ConocoPhillips from $116.00 to $111.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. Finally, Bank of America decreased their price objective on shares of ConocoPhillips from $107.00 to $106.00 and set a “neutral” rating on the stock in a report on Friday, May 23rd. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.30.

Get Our Latest Analysis on COP

ConocoPhillips Price Performance

COP opened at $94.70 on Wednesday. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $118.40. The firm has a market cap of $119.72 billion, a price-to-earnings ratio of 12.16, a PEG ratio of 0.79 and a beta of 0.61. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The stock’s 50-day moving average price is $88.62 and its 200 day moving average price is $96.02.

ConocoPhillips (NYSE:COPGet Free Report) last issued its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.04. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. The business had revenue of $16.18 billion during the quarter, compared to analysts’ expectations of $15.74 billion. During the same quarter in the prior year, the business posted $2.05 EPS. As a group, sell-side analysts expect that ConocoPhillips will post 8.16 earnings per share for the current year.

Institutional Trading of ConocoPhillips

A number of hedge funds have recently added to or reduced their stakes in the business. Tallon Kerry Patrick acquired a new position in shares of ConocoPhillips in the 4th quarter valued at $511,000. Savant Capital LLC lifted its position in ConocoPhillips by 38.6% during the fourth quarter. Savant Capital LLC now owns 47,405 shares of the energy producer’s stock valued at $4,701,000 after buying an additional 13,199 shares in the last quarter. Wingate Wealth Advisors Inc. acquired a new stake in shares of ConocoPhillips in the fourth quarter worth $36,000. Sapient Capital LLC lifted its holdings in shares of ConocoPhillips by 13.1% during the 4th quarter. Sapient Capital LLC now owns 5,922 shares of the energy producer’s stock valued at $587,000 after acquiring an additional 687 shares in the last quarter. Finally, Mill Creek Capital Advisors LLC boosted its position in ConocoPhillips by 24.4% during the 4th quarter. Mill Creek Capital Advisors LLC now owns 3,383 shares of the energy producer’s stock worth $335,000 after purchasing an additional 663 shares during the period. 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.

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Analyst Recommendations for ConocoPhillips (NYSE:COP)

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