ConocoPhillips (NYSE:COP) PT Lowered to $151.00

ConocoPhillips (NYSE:COP) had its target price reduced by analysts at UBS Group from $159.00 to $151.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the energy producer’s stock. UBS Group’s target price would indicate a potential upside of 41.20% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. Royal Bank of Canada boosted their price objective on shares of ConocoPhillips from $135.00 to $140.00 and gave the stock an “outperform” rating in a report on Wednesday, May 15th. Sanford C. Bernstein lowered their price objective on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating for the company in a report on Wednesday, July 17th. Bank of America reiterated a “buy” rating and set a $147.00 price target on shares of ConocoPhillips in a report on Friday, June 14th. Wells Fargo & Company lowered their price target on shares of ConocoPhillips from $151.00 to $150.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Finally, StockNews.com lowered shares of ConocoPhillips from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, ConocoPhillips currently has a consensus rating of “Moderate Buy” and an average price target of $143.53.

ConocoPhillips Trading Up 1.1 %

Shares of ConocoPhillips stock opened at $106.94 on Tuesday. ConocoPhillips has a 1 year low of $102.27 and a 1 year high of $135.18. The firm has a market cap of $125.07 billion, a PE ratio of 12.11, a PEG ratio of 2.14 and a beta of 1.24. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.33 and a quick ratio of 1.21. The company has a 50 day simple moving average of $112.07 and a two-hundred day simple moving average of $117.06.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.96 by $0.02. The firm had revenue of $14.14 billion during the quarter, compared to analyst estimates of $14.96 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The business’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.84 EPS. Analysts expect that ConocoPhillips will post 8.73 earnings per share for the current fiscal year.

Institutional Trading of ConocoPhillips

Hedge funds and other institutional investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD grew its position in ConocoPhillips by 35.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 32,192,580 shares of the energy producer’s stock valued at $4,097,473,000 after purchasing an additional 8,479,963 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in ConocoPhillips by 0.4% during the 4th 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 purchasing an additional 108,956 shares during the last quarter. Capital International Investors grew its position in ConocoPhillips by 9.6% during the 1st quarter. Capital International Investors now owns 21,252,822 shares of the energy producer’s stock valued at $2,705,059,000 after purchasing an additional 1,856,085 shares during the last quarter. Bank of New York Mellon Corp grew its position in ConocoPhillips by 5.8% during the 1st quarter. Bank of New York Mellon Corp now owns 14,986,970 shares of the energy producer’s stock valued at $1,907,542,000 after purchasing an additional 826,529 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in ConocoPhillips by 2.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 12,011,035 shares of the energy producer’s stock valued at $1,394,162,000 after purchasing an additional 270,859 shares during the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

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.