ConocoPhillips (NYSE:COP) PT Lowered to $147.00

ConocoPhillips (NYSE:COP) had its target price decreased by equities research analysts at Susquehanna from $154.00 to $147.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “positive” rating on the energy producer’s stock. Susquehanna’s price objective points to a potential upside of 36.81% from the company’s current price.

Several other brokerages have also recently issued reports on COP. Argus raised ConocoPhillips to a “strong-buy” rating in a report on Friday, June 7th. Barclays lifted their target price on shares of ConocoPhillips from $158.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. Royal Bank of Canada increased their target price on shares of ConocoPhillips from $135.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, May 15th. Scotiabank dropped their price objective on shares of ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating for the company in a research note on Friday, July 12th. Finally, StockNews.com lowered shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $143.24.

ConocoPhillips Stock Down 1.0 %

COP opened at $107.45 on Wednesday. The company has a quick ratio of 1.19, a current ratio of 1.33 and a debt-to-equity ratio of 0.34. The firm has a 50-day simple moving average of $111.37 and a two-hundred day simple moving average of $116.98. The company has a market capitalization of $124.78 billion, a PE ratio of 12.17, a price-to-earnings-growth ratio of 0.85 and a beta of 1.22. ConocoPhillips has a 52 week low of $102.27 and a 52 week high of $135.18.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.02. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The firm had revenue of $14.14 billion during the quarter, compared to analyst estimates of $14.96 billion. During the same period in the previous year, the firm earned $1.84 earnings per share. The business’s revenue was up 9.7% on a year-over-year basis. Analysts forecast that ConocoPhillips will post 8.5 earnings per share for the current fiscal year.

Insider Buying and Selling at ConocoPhillips

In other news, Director Timothy A. Leach sold 55,500 shares of the business’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 in the company, valued at approximately $49,288,321.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.34% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ConocoPhillips

A number of large investors have recently made changes to their positions in the stock. International Assets Investment Management LLC raised its position in shares of ConocoPhillips by 20.7% during the 4th quarter. International Assets Investment Management LLC now owns 9,600 shares of the energy producer’s stock worth $1,114,000 after purchasing an additional 1,644 shares during the last quarter. Gilbert & Cook Inc. lifted its position in shares of ConocoPhillips by 3.7% in the fourth quarter. Gilbert & Cook Inc. now owns 13,438 shares of the energy producer’s stock valued at $1,560,000 after acquiring an additional 483 shares in the last quarter. Private Advisor Group LLC boosted its stake in shares of ConocoPhillips by 8.1% during the fourth quarter. Private Advisor Group LLC now owns 65,881 shares of the energy producer’s stock valued at $7,647,000 after acquiring an additional 4,910 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in ConocoPhillips by 28.3% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 10,709 shares of the energy producer’s stock worth $1,243,000 after purchasing an additional 2,360 shares in the last quarter. Finally, Everpar Advisors LLC acquired a new position in ConocoPhillips in the 4th quarter valued at about $282,000. Hedge funds and other 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.