ConocoPhillips (NYSE:COP – Get Free Report) had its target price cut by investment analysts at Truist Financial from $173.00 to $170.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the energy producer’s stock. Truist Financial’s target price would indicate a potential upside of 27.32% from the stock’s current price.
A number of other equities analysts also recently commented on the stock. Raymond James reduced their price objective on shares of ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating for the company in a report on Wednesday, January 24th. Morgan Stanley raised their price objective on shares of ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. UBS Group raised their price objective on shares of ConocoPhillips from $138.00 to $143.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Piper Sandler reduced their price objective on shares of ConocoPhillips from $139.00 to $133.00 and set an “overweight” rating for the company in a report on Thursday, March 14th. Finally, Scotiabank raised their price objective on shares of ConocoPhillips from $115.00 to $120.00 and gave the stock a “sector perform” rating in a report on Friday, February 9th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $137.88.
View Our Latest Stock Report on COP
ConocoPhillips Stock Performance
NYSE COP opened at $133.52 on Friday. 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 firm has a market capitalization of $157.07 billion, a price-to-earnings ratio of 14.74, a P/E/G ratio of 2.95 and a beta of 1.24. The company’s fifty day moving average is $116.79 and its two-hundred day moving average is $116.43. ConocoPhillips has a 52-week low of $95.70 and a 52-week high of $133.84.
ConocoPhillips (NYSE:COP – Get Free Report) last posted its quarterly earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.32. The company had revenue of $15.31 billion for the quarter, compared to analyst estimates of $14.47 billion. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. During the same period last year, the business posted $2.71 EPS. Equities research analysts forecast that ConocoPhillips will post 8.92 EPS for the current year.
Insider Activity at ConocoPhillips
In related news, CEO Ryan Michael Lance sold 607,000 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were 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 owns 6,780 shares in the company, valued at $853,669.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Ryan Michael Lance sold 607,000 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were 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 owns 6,780 shares in the company, valued at $853,669.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Nicholas G. Olds sold 12,150 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $126.44, for a total transaction of $1,536,246.00. Following the transaction, the executive vice president now owns 14,522 shares of the company’s stock, valued at approximately $1,836,161.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 700,775 shares of company stock worth $87,615,169. 0.37% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA lifted its stake in ConocoPhillips by 0.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 27,672,104 shares of the energy producer’s stock valued at $3,211,901,000 after buying an additional 108,956 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in ConocoPhillips by 24.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 23,712,617 shares of the energy producer’s stock valued at $2,752,325,000 after buying an additional 4,726,952 shares in the last quarter. Morgan Stanley lifted its stake in ConocoPhillips by 26.6% in the fourth quarter. Morgan Stanley now owns 16,647,723 shares of the energy producer’s stock valued at $1,964,432,000 after buying an additional 3,497,750 shares in the last quarter. Northern Trust Corp lifted its stake in ConocoPhillips by 3.2% in the third quarter. Northern Trust Corp now owns 12,486,871 shares of the energy producer’s stock valued at $1,495,927,000 after buying an additional 386,276 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in ConocoPhillips by 10.6% in the third quarter. Bank of New York Mellon Corp now owns 12,028,061 shares of the energy producer’s stock valued at $1,440,962,000 after buying an additional 1,152,907 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.
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.
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Source: defenseworld.net
