Wells Fargo & Company Raises ConocoPhillips (NYSE:COP) Price Target to $134.00

ConocoPhillips (NYSE:COP) had its price objective raised by research analysts at Wells Fargo & Company from $131.00 to $134.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the energy producer’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 28.18% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. Evercore ISI reissued an “outperform” rating and set a $165.00 price target on shares of ConocoPhillips in a research report on Friday. Royal Bank of Canada reissued an “outperform” rating and set a $140.00 price target on shares of ConocoPhillips in a research report on Friday, September 13th. Mizuho boosted their price target on shares of ConocoPhillips from $129.00 to $132.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. BMO Capital Markets boosted their price target on shares of ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Finally, Barclays boosted their price objective on shares of ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $139.18.

ConocoPhillips Stock Up 1.3 %

COP traded up $1.32 during trading on Monday, hitting $104.54. The company had a trading volume of 684,898 shares, compared to its average volume of 5,982,683. The company has a market capitalization of $120.32 billion, a PE ratio of 12.48, a PEG ratio of 0.85 and a beta of 1.18. ConocoPhillips has a one year low of $101.29 and a one year high of $135.18. The firm’s 50-day moving average price is $108.61 and its 200 day moving average price is $110.18. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, beating the consensus estimate of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The business had revenue of $13.60 billion for the quarter, compared to analysts’ expectations of $13.97 billion. During the same period in the previous year, the firm posted $2.16 EPS. The firm’s revenue was down 8.5% compared to the same quarter last year. As a group, equities analysts expect that ConocoPhillips will post 7.76 earnings per share for the current year.

Institutional Trading of ConocoPhillips

A number of institutional investors have recently bought and sold shares of COP. Values First Advisors Inc. bought a new stake in ConocoPhillips in the 3rd quarter valued at about $26,000. Stephens Consulting LLC lifted its holdings in shares of ConocoPhillips by 69.3% during the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after acquiring an additional 104 shares during the period. Reston Wealth Management LLC bought a new stake in shares of ConocoPhillips during the 3rd quarter worth approximately $31,000. Truvestments Capital LLC bought a new stake in shares of ConocoPhillips during the 3rd quarter worth approximately $31,000. Finally, Y.D. More Investments Ltd bought a new stake in shares of ConocoPhillips during the 2nd quarter worth approximately $35,000. Institutional investors own 82.36% of the company’s stock.

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.