ConocoPhillips (NYSE:COP) Stock Rating Reaffirmed by Royal Bank of Canada

ConocoPhillips (NYSE:COP)‘s stock had its “outperform” rating reaffirmed by equities researchers at Royal Bank of Canada in a research report issued on Friday, Benzinga reports. They currently have a $140.00 price objective on the energy producer’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 35.27% from the company’s previous close.

Other analysts have also issued research reports about the company. Bank of America restated a “buy” rating and issued a $147.00 price objective on shares of ConocoPhillips in a research note on Friday, June 14th. UBS Group raised their price target on ConocoPhillips from $151.00 to $153.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Mizuho decreased their price objective on shares of ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating on the stock in a report on Wednesday, June 5th. Sanford C. Bernstein cut their target price on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. Finally, StockNews.com lowered shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, ConocoPhillips currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.24.

ConocoPhillips Price Performance

NYSE:COP opened at $103.50 on Friday. The stock has a market capitalization of $120.19 billion, a PE ratio of 11.72, a P/E/G ratio of 0.78 and a beta of 1.22. ConocoPhillips has a 1-year low of $101.29 and a 1-year high of $135.18. The firm has a fifty day simple moving average of $110.16 and a 200 day simple moving average of $116.70. The company has a current ratio of 1.33, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, beating analysts’ consensus estimates of $1.96 by $0.02. The company had revenue of $14.14 billion during the quarter, compared to the consensus estimate of $14.96 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The company’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.84 EPS. On average, research analysts expect that ConocoPhillips will post 8.41 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Timothy A. Leach sold 55,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the completion of the sale, the director now owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On ConocoPhillips

Several institutional investors and hedge funds have recently added to or reduced their stakes in COP. Price T Rowe Associates Inc. MD lifted its position in shares of 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 worth $4,097,473,000 after buying an additional 8,479,963 shares during the last quarter. Capital International Investors lifted its holdings in shares of ConocoPhillips by 9.6% in the first quarter. Capital International Investors now owns 21,252,822 shares of the energy producer’s stock worth $2,705,059,000 after acquiring an additional 1,856,085 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of ConocoPhillips by 5.8% in 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 in the last quarter. Legal & General Group Plc grew its holdings in shares of ConocoPhillips by 4.6% during the 2nd quarter. Legal & General Group Plc now owns 9,900,596 shares of the energy producer’s stock valued at $1,132,430,000 after purchasing an additional 438,241 shares during the last quarter. Finally, Fisher Asset Management LLC grew its holdings in shares of ConocoPhillips by 2.7% during the 4th quarter. Fisher Asset Management LLC now owns 7,412,753 shares of the energy producer’s stock valued at $860,398,000 after purchasing an additional 191,519 shares during the last quarter. 82.36% of the stock is currently owned by 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.