ConocoPhillips (NYSE:COP) Given New $146.00 Price Target at Mizuho

ConocoPhillips (NYSE:COP) had its target price dropped by analysts at Mizuho from $150.00 to $146.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the energy producer’s stock. Mizuho’s price target suggests a potential upside of 40.98% from the company’s previous close.

A number of other analysts have also weighed in on COP. BMO Capital Markets decreased their target price on shares of ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. Barclays raised their price target on shares of ConocoPhillips from $136.00 to $155.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ConocoPhillips in a report on Wednesday, June 3rd. Jefferies Financial Group increased their price objective on ConocoPhillips from $160.00 to $161.00 and gave the stock a “buy” rating in a research report on Monday, May 18th. Finally, Freedom Capital lowered ConocoPhillips from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 6th. Eighteen analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $134.60.

ConocoPhillips Stock Down 1.1%

Shares of NYSE COP opened at $103.56 on Tuesday. ConocoPhillips has a 52 week low of $85.57 and a 52 week high of $135.87. The business has a 50-day simple moving average of $115.76 and a two-hundred day simple moving average of $112.25. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.34. The company has a market cap of $126.17 billion, a P/E ratio of 17.58, a P/E/G ratio of 1.20 and a beta of 0.12.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.17. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The firm had revenue of $15.76 billion for the quarter, compared to analysts’ expectations of $15.62 billion. During the same period in the prior year, the business posted $2.09 earnings per share. The company’s revenue was down 6.1% on a year-over-year basis. Research analysts anticipate that ConocoPhillips will post 9.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ConocoPhillips

Institutional investors have recently modified their holdings of the company. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in ConocoPhillips in the fourth quarter worth approximately $25,000. KERR FINANCIAL PLANNING Corp bought a new stake in shares of ConocoPhillips in the 3rd quarter worth approximately $28,000. Board of the Pension Protection Fund purchased a new stake in shares of ConocoPhillips in the 4th quarter valued at $28,000. Strive Asset Management LLC purchased a new stake in shares of ConocoPhillips in the 3rd quarter valued at $28,000. Finally, Frazier Financial Advisors LLC grew its holdings in shares of ConocoPhillips by 151.0% during the 1st quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock valued at $32,000 after purchasing an additional 145 shares during the last quarter. 82.36% of the stock is currently owned by 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.