ConocoPhillips (NYSE:COP) Stock Price Expected to Rise, Raymond James Financial Analyst Says

ConocoPhillips (NYSE:COP) had its price objective lifted by investment analysts at Raymond James Financial from $113.00 to $118.00 in a research note issued on Wednesday,MarketScreener reports. The firm currently has an “outperform” rating on the energy producer’s stock. Raymond James Financial’s price objective would suggest a potential upside of 8.45% from the company’s previous close.

Several other equities analysts have also recently weighed in on COP. Wolfe Research raised their price objective on ConocoPhillips from $122.00 to $123.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. Susquehanna boosted their price target on shares of ConocoPhillips from $115.00 to $121.00 and gave the stock a “positive” rating in a report on Friday, February 6th. The Goldman Sachs Group upped their target price on ConocoPhillips from $115.00 to $120.00 and gave the company a “buy” rating in a report on Friday, February 6th. Wall Street Zen upgraded shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Capital One Financial lifted their price objective on shares of ConocoPhillips from $111.00 to $116.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 20th. Seventeen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, ConocoPhillips has an average rating of “Moderate Buy” and a consensus target price of $115.00.

ConocoPhillips Stock Performance

Shares of COP stock opened at $108.81 on Wednesday. The company has a market cap of $134.46 billion, a price-to-earnings ratio of 17.19 and a beta of 0.32. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $108.89. The firm has a 50 day moving average of $97.24 and a 200-day moving average of $93.89. The company has a quick ratio of 1.14, a current ratio of 1.30 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, February 5th. The energy producer reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.21). ConocoPhillips had a return on equity of 11.90% and a net margin of 12.98%.The firm had revenue of $13.86 billion during the quarter, compared to the consensus estimate of $14.35 billion. During the same quarter in the previous year, the company posted $1.98 EPS. The firm’s revenue was down 3.7% on a year-over-year basis. On average, equities analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current year.

Insider Activity at ConocoPhillips

In other news, CEO Ryan Michael Lance sold 500,708 shares of the firm’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $92.50, for a total transaction of $46,315,490.00. Following the sale, the chief executive officer owned 325,972 shares in the company, valued at approximately $30,152,410. This trade represents a 60.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.24% of the stock is owned by insiders.

Institutional Investors Weigh In On ConocoPhillips

A number of hedge funds have recently made changes to their positions in COP. Capital International Investors grew its position in shares of ConocoPhillips by 18.2% in the 3rd quarter. Capital International Investors now owns 45,645,397 shares of the energy producer’s stock worth $4,318,239,000 after buying an additional 7,037,873 shares during the last quarter. Primecap Management Co. CA lifted its position in ConocoPhillips by 66.0% during the second quarter. Primecap Management Co. CA now owns 7,883,455 shares of the energy producer’s stock valued at $707,461,000 after purchasing an additional 3,135,315 shares in the last quarter. Ameriprise Financial Inc. grew its position in shares of ConocoPhillips by 31.4% during the second quarter. Ameriprise Financial Inc. now owns 10,778,664 shares of the energy producer’s stock worth $966,267,000 after purchasing an additional 2,575,803 shares in the last quarter. Alyeska Investment Group L.P. bought a new position in shares of ConocoPhillips during the 3rd quarter valued at about $135,265,000. Finally, First Trust Advisors LP raised its holdings in shares of ConocoPhillips by 146.6% during the 2nd quarter. First Trust Advisors LP now owns 2,315,757 shares of the energy producer’s stock worth $207,816,000 after acquiring an additional 1,376,509 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors.

About ConocoPhillips

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.