ConocoPhillips (NYSE:COP) Now Covered by TD Cowen

Analysts at TD Cowen initiated coverage on shares of ConocoPhillips (NYSE:COP) in a research note issued to investors on Friday, Marketbeat Ratings reports. The firm set a “buy” rating and a $125.00 price target on the energy producer’s stock. TD Cowen’s price objective suggests a potential upside of 18.19% from the stock’s previous close.

A number of other equities research analysts have also weighed in on COP. Piper Sandler cut their price objective on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Susquehanna lifted their price objective on ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research report on Friday, November 1st. BMO Capital Markets lifted their price objective on ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. JPMorgan Chase & Co. upgraded ConocoPhillips from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $120.00 to $123.00 in a research report on Thursday, December 5th. Finally, Barclays lifted their price objective on ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, ConocoPhillips has a consensus rating of “Buy” and an average target price of $136.00.

ConocoPhillips Price Performance

COP opened at $105.76 on Friday. The stock’s 50 day simple moving average is $103.79 and its 200 day simple moving average is $107.47. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. ConocoPhillips has a 1 year low of $94.23 and a 1 year high of $135.18. The firm has a market cap of $121.72 billion, a price-to-earnings ratio of 12.58, a PEG ratio of 0.81 and a beta of 1.19.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $13.97 billion. During the same period last year, the company earned $2.16 EPS. ConocoPhillips’s revenue for the quarter was down 8.5% compared to the same quarter last year. As a group, analysts predict that ConocoPhillips will post 7.7 earnings per share for the current year.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, Director Arjun N. Murti purchased 2,500 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was purchased at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the purchase, the director now directly owns 21,500 shares of the company’s stock, valued at $2,061,205. This trade represents a 13.16 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director R A. Walker purchased 10,400 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was acquired at an average price 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. The trade was 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 Inflows and Outflows

Several hedge funds have recently modified their holdings of COP. Edgestream Partners L.P. raised its stake in shares of ConocoPhillips by 444.8% in the second quarter. Edgestream Partners L.P. now owns 13,484 shares of the energy producer’s stock worth $1,542,000 after purchasing an additional 11,009 shares during the last quarter. XTX Topco Ltd grew its holdings in shares of ConocoPhillips by 168.3% in the second quarter. XTX Topco Ltd now owns 12,638 shares of the energy producer’s stock worth $1,446,000 after acquiring an additional 7,928 shares during the period. ProVise Management Group LLC grew its holdings in shares of ConocoPhillips by 10.2% in the second quarter. ProVise Management Group LLC now owns 50,288 shares of the energy producer’s stock worth $5,752,000 after acquiring an additional 4,655 shares during the period. Intech Investment Management LLC grew its holdings in shares of ConocoPhillips by 72.3% in the second quarter. Intech Investment Management LLC now owns 111,852 shares of the energy producer’s stock worth $12,794,000 after acquiring an additional 46,942 shares during the period. Finally, Brighton Jones LLC grew its holdings in shares of ConocoPhillips by 9.3% in the second quarter. Brighton Jones LLC now owns 14,990 shares of the energy producer’s stock worth $1,715,000 after acquiring an additional 1,275 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

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.