Barclays Issues Pessimistic Forecast for ConocoPhillips (NYSE:COP) Stock Price

ConocoPhillips (NYSE:COP) had its target price lowered by analysts at Barclays from $137.00 to $135.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the energy producer’s stock. Barclays‘s price target indicates a potential upside of 37.28% from the company’s current price.

Several other analysts also recently issued reports on the company. Raymond James downgraded ConocoPhillips from a “strong-buy” rating to an “outperform” rating and reduced their price objective for the company from $157.00 to $124.00 in a research report on Monday. Wells Fargo & Company reduced their target price on shares of ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating on the stock in a report on Tuesday, January 14th. Truist Financial lifted their price target on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Susquehanna upped their price objective 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. Finally, TD Cowen initiated coverage on shares of ConocoPhillips in a research note on Friday, January 17th. They issued a “buy” rating and a $125.00 target price for the company. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $133.94.

ConocoPhillips Stock Performance

NYSE:COP opened at $98.34 on Monday. ConocoPhillips has a twelve month low of $94.23 and a twelve month high of $135.18. The company has a market capitalization of $113.18 billion, a P/E ratio of 12.62, a price-to-earnings-growth ratio of 0.77 and a beta of 1.18. The company has a current ratio of 1.29, a quick ratio of 1.16 and a debt-to-equity ratio of 0.36. The firm has a 50-day moving average price of $101.05 and a two-hundred day moving average price of $106.15.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. As a group, research analysts expect that ConocoPhillips will post 8.3 earnings per share for the current fiscal year.

Insider Activity

In other news, Director R A. Walker bought 10,400 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was acquired at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the completion of the purchase, the director now owns 38,000 shares of the company’s stock, valued at $3,716,400. This trade represents a 37.68 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Arjun N. Murti purchased 2,500 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The shares were purchased at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the purchase, 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 disclosure for this purchase can be found here. Insiders own 0.34% of the company’s stock.

Institutional Trading of ConocoPhillips

Several large investors have recently modified their holdings of the business. Albion Financial Group UT grew its stake in ConocoPhillips by 876.9% during the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after purchasing an additional 228 shares in the last quarter. Values First Advisors Inc. acquired a new stake in shares of ConocoPhillips during the third quarter worth approximately $26,000. Centricity Wealth Management LLC acquired a new stake in shares of ConocoPhillips during the fourth quarter worth approximately $27,000. Reston Wealth Management LLC bought a new stake in shares of ConocoPhillips in the third quarter worth $31,000. Finally, Truvestments Capital LLC acquired a new stake in ConocoPhillips in the third quarter valued at $31,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

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.