ConocoPhillips (NYSE:COP) Price Target Raised to $148.00

ConocoPhillips (NYSE:COP) had its target price lifted by investment analysts at Susquehanna from $144.00 to $148.00 in a research report issued on Friday, Benzinga reports. The firm presently has a “positive” rating on the energy producer’s stock. Susquehanna’s price target indicates a potential upside of 37.24% from the company’s previous close.

COP has been the topic of a number of other reports. Truist Financial cut their price objective on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $126.00 price objective (down from $139.00) on shares of ConocoPhillips in a research note on Friday, October 11th. StockNews.com downgraded ConocoPhillips from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Royal Bank of Canada reiterated an “outperform” rating and issued a $140.00 target price on shares of ConocoPhillips in a report on Friday, September 13th. Finally, Sanford C. Bernstein lowered their target price on ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating for the company in a report on Wednesday, July 17th. Six research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $137.47.

ConocoPhillips Stock Performance

Shares of COP stock opened at $107.84 on Friday. The business’s 50-day moving average price is $107.94 and its 200-day moving average price is $112.90. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $125.23 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 0.90 and a beta of 1.21. ConocoPhillips has a 12 month low of $101.29 and a 12 month high of $135.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. The company had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The firm’s quarterly revenue was down 8.5% on a year-over-year basis. During the same period in the previous year, the firm earned $2.16 earnings per share. Equities research analysts forecast that ConocoPhillips will post 7.76 EPS for the current year.

Insider Activity at ConocoPhillips

In related news, Director Timothy A. Leach sold 55,500 shares of ConocoPhillips stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the transaction, the director now owns 455,909 shares of the company’s stock, valued at $49,288,321.99. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.34% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Ashton Thomas Private Wealth LLC boosted its position in ConocoPhillips by 44.2% in the first quarter. Ashton Thomas Private Wealth LLC now owns 10,042 shares of the energy producer’s stock worth $1,278,000 after purchasing an additional 3,080 shares during the last quarter. Norden Group LLC boosted its position in ConocoPhillips by 59.8% in the first quarter. Norden Group LLC now owns 7,270 shares of the energy producer’s stock worth $925,000 after purchasing an additional 2,720 shares during the last quarter. Private Advisor Group LLC boosted its position in ConocoPhillips by 7.2% in the first quarter. Private Advisor Group LLC now owns 70,612 shares of the energy producer’s stock worth $8,988,000 after purchasing an additional 4,731 shares during the last quarter. Diversify Advisory Services LLC purchased a new position in ConocoPhillips in the first quarter worth $385,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in ConocoPhillips by 16.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 283,871 shares of the energy producer’s stock worth $36,131,000 after purchasing an additional 39,237 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Company Profile

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.