ConocoPhillips (NYSE:COP) Price Target Lowered to $114.00 at Piper Sandler

ConocoPhillips (NYSE:COP) had its target price reduced by equities researchers at Piper Sandler from $135.00 to $114.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the energy producer’s stock. Piper Sandler’s price target suggests a potential upside of 19.30% from the stock’s previous close.

Several other equities analysts have also issued reports on COP. Evercore ISI reissued an “outperform” rating and issued a $165.00 price target on shares of ConocoPhillips in a research note on Friday, December 6th. Morgan Stanley began coverage on shares of ConocoPhillips in a research note on Monday. They set an “overweight” rating and a $128.00 target price on the stock. Wells Fargo & Company lifted their price target on shares of ConocoPhillips from $131.00 to $134.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Scotiabank cut their price objective on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. upgraded ConocoPhillips from a “neutral” rating to an “overweight” rating and raised their target price for the company from $120.00 to $123.00 in a research note on Thursday, December 5th. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $136.71.

ConocoPhillips Trading Down 0.3 %

NYSE:COP traded down $0.29 on Thursday, reaching $95.56. 3,871,505 shares of the stock traded hands, compared to its average volume of 6,037,410. The firm has a market capitalization of $109.98 billion, a price-to-earnings ratio of 11.36, a price-to-earnings-growth ratio of 0.83 and a beta of 1.18. ConocoPhillips has a 1-year low of $95.37 and a 1-year high of $135.18. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. The company’s 50 day moving average is $106.91 and its 200-day moving average is $109.31.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.10. The business had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. ConocoPhillips’s revenue for the quarter was down 8.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.16 earnings per share. Equities research analysts anticipate that ConocoPhillips will post 7.77 EPS for the current fiscal year.

Insider Transactions at ConocoPhillips

In related news, Director R A. Walker acquired 10,400 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The stock was acquired at an average price of $97.80 per share, for a total transaction of $1,017,120.00. Following the completion of the acquisition, the director now owns 38,000 shares of the company’s stock, valued at approximately $3,716,400. This represents a 37.68 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On ConocoPhillips

Large investors have recently modified their holdings of the stock. Principal Financial Group Inc. increased its position in ConocoPhillips by 2.3% in the third quarter. Principal Financial Group Inc. now owns 1,474,270 shares of the energy producer’s stock worth $155,211,000 after buying an additional 32,948 shares during the last quarter. IMS Capital Management raised its stake in ConocoPhillips by 20.1% in the 3rd quarter. IMS Capital Management now owns 2,991 shares of the energy producer’s stock valued at $315,000 after acquiring an additional 500 shares during the period. Syntax Research Inc. bought a new position in ConocoPhillips during the third quarter worth about $3,235,000. Fidelity D & D Bancorp Inc. increased its stake in shares of ConocoPhillips by 4.7% in the third quarter. Fidelity D & D Bancorp Inc. now owns 2,884 shares of the energy producer’s stock worth $304,000 after purchasing an additional 129 shares in the last quarter. Finally, Oddo BHF Asset Management Sas bought a new stake in shares of ConocoPhillips in the third quarter valued at approximately $4,698,000. Hedge funds and other 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.