ConocoPhillips (NYSE:COP) PT Lowered to $129.00

ConocoPhillips (NYSE:COP) had its price target cut by equities research analysts at Mizuho from $132.00 to $129.00 in a report issued on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the energy producer’s stock. Mizuho’s target price indicates a potential upside of 19.11% from the company’s current price.

COP has been the topic of a number of other reports. Bank of America reaffirmed a “buy” rating and set a $147.00 target price on shares of ConocoPhillips in a research report on Friday, June 14th. Argus upgraded ConocoPhillips to a “strong-buy” rating in a research note on Friday, June 7th. StockNews.com downgraded shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Scotiabank dropped their target price on ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th. Finally, Barclays increased their price target on ConocoPhillips from $158.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $143.06.

ConocoPhillips Stock Up 2.6 %

Shares of NYSE:COP opened at $108.30 on Monday. The company has a market cap of $125.76 billion, a price-to-earnings ratio of 12.27, a PEG ratio of 0.78 and a beta of 1.22. ConocoPhillips has a 12 month low of $101.29 and a 12 month high of $135.18. The company has a 50-day moving average price of $109.97 and a 200 day moving average price of $116.64. The company has a current ratio of 1.33, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, topping 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 analysts’ expectations of $14.96 billion. During the same period in the previous year, the company earned $1.84 EPS. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, equities research analysts predict that ConocoPhillips will post 8.41 earnings per share for the current year.

Insiders Place Their Bets

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 stock was sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the transaction, the director now directly owns 455,909 shares in the company, valued at approximately $49,288,321.99. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.34% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ConocoPhillips

Several institutional investors and hedge funds have recently bought and sold shares of COP. Sachetta LLC acquired a new stake in shares of ConocoPhillips in the fourth quarter valued at $27,000. Cooksen Wealth LLC purchased a new stake in ConocoPhillips in the fourth quarter valued at approximately $27,000. Cape Investment Advisory Inc. boosted its stake in ConocoPhillips by 96.0% during the 4th quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock worth $29,000 after purchasing an additional 121 shares during the period. Stephens Consulting LLC boosted its stake in shares of ConocoPhillips by 69.3% during the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after buying an additional 104 shares during the period. Finally, Richardson Capital Management LLC purchased a new position in shares of ConocoPhillips in the 1st quarter valued at approximately $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.