UBS Group Cuts ConocoPhillips (NYSE:COP) Price Target to $116.00

ConocoPhillips (NYSE:COP) had its target price dropped by analysts at UBS Group from $130.00 to $116.00 in a report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the energy producer’s stock. UBS Group’s price objective would indicate a potential upside of 35.94% from the company’s current price.

COP has been the subject of several other research reports. Piper Sandler decreased their price objective on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Raymond James lowered ConocoPhillips from a “strong-buy” rating to an “outperform” rating and reduced their target price for the company from $157.00 to $124.00 in a report on Monday, February 10th. Wells Fargo & Company dropped their price target on ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. TD Cowen began coverage on ConocoPhillips in a research note on Friday, January 17th. They issued a “buy” rating and a $125.00 price objective for the company. Finally, Mizuho upgraded ConocoPhillips from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $132.00 to $134.00 in a research note on Monday, December 16th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, ConocoPhillips presently has a consensus rating of “Moderate Buy” and an average price target of $131.84.

ConocoPhillips Stock Down 1.1 %

Shares of NYSE:COP traded down $0.96 during mid-day trading on Monday, hitting $85.33. 8,980,134 shares of the company traded hands, compared to its average volume of 6,895,952. The stock has a market cap of $107.87 billion, a P/E ratio of 10.94, a P/E/G ratio of 0.79 and a beta of 0.83. The stock has a 50-day moving average price of $98.53 and a two-hundred day moving average price of $103.06. ConocoPhillips has a 12-month low of $81.34 and a 12-month high of $135.18. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. On average, equities research analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current year.

Institutional Trading of ConocoPhillips

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Albion Financial Group UT grew its holdings in ConocoPhillips by 876.9% during the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after buying an additional 228 shares in the last quarter. Murphy & Mullick Capital Management Corp purchased a new position in ConocoPhillips during the fourth quarter valued at approximately $26,000. Centricity Wealth Management LLC purchased a new position in ConocoPhillips during the fourth quarter valued at approximately $27,000. 10Elms LLP bought a new stake in ConocoPhillips during the 4th quarter worth approximately $28,000. Finally, Crowley Wealth Management Inc. purchased a new stake in ConocoPhillips in the 4th quarter worth approximately $32,000. 82.36% of the stock is currently owned by institutional investors.

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.