ConocoPhillips (NYSE:COP) PT Lowered to $132.00

ConocoPhillips (NYSE:COP) had its price target lowered by investment analysts at Wells Fargo & Company from $150.00 to $132.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the energy producer’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 26.87% from the stock’s current price.

A number of other research analysts have also recently weighed in on COP. Argus upgraded shares of ConocoPhillips to a “strong-buy” rating in a research report on Friday, June 7th. UBS Group cut their price target on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Wolfe Research assumed coverage on shares of ConocoPhillips in a research note on Thursday, July 18th. They issued an “outperform” rating and a $145.00 price objective for the company. Susquehanna cut their target price on ConocoPhillips from $154.00 to $147.00 and set a “positive” rating on the stock in a research note on Wednesday, September 4th. Finally, StockNews.com lowered ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $141.24.

ConocoPhillips Trading Up 1.7 %

COP traded up $1.73 on Friday, hitting $104.04. The company had a trading volume of 1,690,870 shares, compared to its average volume of 5,910,623. The business’s fifty day simple moving average is $109.04 and its 200 day simple moving average is $116.38. The company has a quick ratio of 1.19, a current ratio of 1.33 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 12-month low of $101.29 and a 12-month high of $135.18. The company has a market cap of $120.82 billion, a PE ratio of 11.78, a PEG ratio of 0.86 and a beta of 1.22.

ConocoPhillips (NYSE:COP) last announced its 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 return on equity of 20.81% and a net margin of 18.18%. The firm had revenue of $14.14 billion during the quarter, compared to analysts’ expectations of $14.96 billion. During the same quarter in the previous year, the business earned $1.84 EPS. The company’s quarterly revenue was up 9.7% on a year-over-year basis. Equities research analysts expect that ConocoPhillips will post 8.14 EPS for the current year.

Insider Buying and Selling at ConocoPhillips

In related news, Director Timothy A. Leach sold 55,500 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 455,909 shares of the company’s stock, valued at $49,288,321.99. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On ConocoPhillips

Hedge funds and other institutional investors have recently bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of ConocoPhillips by 10.5% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 202,375 shares of the energy producer’s stock valued at $23,148,000 after purchasing an additional 19,268 shares during the last quarter. Heritage Wealth Management Inc. acquired a new position in ConocoPhillips during the 2nd quarter valued at about $1,366,000. Lazari Capital Management Inc. boosted its holdings in ConocoPhillips by 2.1% in the second quarter. Lazari Capital Management Inc. now owns 12,803 shares of the energy producer’s stock worth $1,464,000 after acquiring an additional 262 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of ConocoPhillips during the second quarter worth about $29,201,000. Finally, Clear Rock Advisors LLC increased its holdings in shares of ConocoPhillips by 2.9% during the second quarter. Clear Rock Advisors LLC now owns 22,274 shares of the energy producer’s stock valued at $2,548,000 after acquiring an additional 627 shares in the last quarter. 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.