ConocoPhillips (NYSE:COP) Price Target Lowered to $135.00 at Barclays

ConocoPhillips (NYSE:COP) had its price objective reduced by Barclays from $156.00 to $135.00 in a report issued on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the energy producer’s stock. Barclays‘s target price suggests a potential upside of 21.69% from the stock’s current price.

A number of other equities analysts also recently weighed in on the company. Wolfe Research assumed coverage on ConocoPhillips in a report on Thursday, July 18th. They issued an “outperform” rating and a $145.00 target price on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $140.00 price objective on shares of ConocoPhillips in a research note on Friday, September 13th. Argus raised shares of ConocoPhillips to a “strong-buy” rating in a research note on Friday, June 7th. Scotiabank lowered their price target on shares of ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. Finally, Mizuho cut their price objective on ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $139.13.

ConocoPhillips Trading Up 0.5 %

Shares of NYSE:COP traded up $0.58 during mid-day trading on Thursday, hitting $110.94. The stock had a trading volume of 2,621,820 shares, compared to its average volume of 5,937,618. The company’s 50 day moving average is $108.67 and its 200-day moving average is $116.09. ConocoPhillips has a 12-month low of $101.29 and a 12-month high of $135.18. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.33. The company has a market cap of $128.83 billion, a PE ratio of 12.56, a P/E/G ratio of 0.82 and a beta of 1.22.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, topping the consensus estimate of $1.96 by $0.02. The business had revenue of $14.14 billion during the quarter, compared to analysts’ expectations of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. ConocoPhillips’s revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.84 earnings per share. On average, sell-side analysts predict that ConocoPhillips will post 8.12 EPS for the current year.

Insider Transactions at ConocoPhillips

In related news, Director Timothy A. Leach sold 55,500 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.34% of the stock is owned by corporate insiders.

Institutional Trading of ConocoPhillips

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in COP. Czech National Bank lifted its holdings in shares of ConocoPhillips by 6.2% during the third quarter. Czech National Bank now owns 236,559 shares of the energy producer’s stock worth $24,905,000 after buying an additional 13,707 shares during the last quarter. AMF Tjanstepension AB increased its position in ConocoPhillips by 4.7% during the third quarter. AMF Tjanstepension AB now owns 1,163,724 shares of the energy producer’s stock worth $122,628,000 after acquiring an additional 52,334 shares during the period. Central Pacific Bank Trust Division raised its stake in ConocoPhillips by 2.1% during the 3rd quarter. Central Pacific Bank Trust Division now owns 15,833 shares of the energy producer’s stock valued at $1,667,000 after purchasing an additional 328 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its holdings in ConocoPhillips by 3.8% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 48,757 shares of the energy producer’s stock valued at $5,133,000 after purchasing an additional 1,783 shares during the period. Finally, Cascade Investment Advisors Inc. grew its position in ConocoPhillips by 1.5% in the 3rd quarter. Cascade Investment Advisors Inc. now owns 15,200 shares of the energy producer’s stock worth $1,600,000 after purchasing an additional 225 shares during the last quarter. Institutional investors and hedge funds 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.