ConocoPhillips (NYSE:COP) Price Target Cut to $114.00 by Analysts at Piper Sandler

ConocoPhillips (NYSE:COP) had its price objective cut by stock analysts at Piper Sandler from $135.00 to $114.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the energy producer’s stock. Piper Sandler’s target price would indicate a potential upside of 19.85% from the company’s previous close.

A number of other research analysts have also issued reports on COP. Susquehanna upped their price target on shares of ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research note on Friday, November 1st. BMO Capital Markets upped their target price on ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Morgan Stanley initiated coverage on ConocoPhillips in a research report on Monday, December 16th. They set an “overweight” rating and a $128.00 price target for the company. Mizuho raised ConocoPhillips from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $132.00 to $134.00 in a report on Monday, December 16th. Finally, Barclays lifted their target price on ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $136.71.

ConocoPhillips Stock Down 0.1 %

ConocoPhillips stock opened at $95.12 on Thursday. ConocoPhillips has a 1-year low of $94.23 and a 1-year high of $135.18. The business has a fifty day moving average price of $106.27 and a 200-day moving average price of $109.09. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. The stock has a market capitalization of $109.47 billion, a price-to-earnings ratio of 11.31, a PEG ratio of 0.83 and a beta of 1.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The business had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. During the same quarter last year, the company earned $2.16 earnings per share. The company’s quarterly revenue was down 8.5% on a year-over-year basis. Equities research analysts forecast that ConocoPhillips will post 7.77 EPS for the current fiscal year.

Insider Activity at ConocoPhillips

In related news, Director Arjun N. Murti bought 2,500 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were acquired at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the transaction, the director now directly owns 21,500 shares in the company, valued at $2,061,205. This trade represents a 13.16 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director R A. Walker bought 10,400 shares of the business’s stock in a transaction dated Tuesday, December 17th. The shares were bought at an average cost of $97.80 per share, with a total value of $1,017,120.00. Following the purchase, the director now directly owns 38,000 shares of the company’s stock, valued at approximately $3,716,400. This represents a 37.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.34% of the stock is owned by company insiders.

Institutional Investors Weigh In On ConocoPhillips

Several institutional investors have recently bought and sold shares of the company. Values First Advisors Inc. purchased a new position in shares of ConocoPhillips in the third quarter valued at approximately $26,000. Stephens Consulting LLC raised its stake in ConocoPhillips by 69.3% in the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after purchasing an additional 104 shares during the last quarter. Reston Wealth Management LLC purchased a new position in ConocoPhillips in the 3rd quarter valued at $31,000. Truvestments Capital LLC acquired a new stake in ConocoPhillips during the 3rd quarter worth $31,000. Finally, Y.D. More Investments Ltd acquired a new stake in ConocoPhillips during the 2nd quarter worth $35,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

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.