ConocoPhillips (NYSE:COP) Stock Rating Upgraded by Mizuho

ConocoPhillips (NYSE:COP) was upgraded by equities researchers at Mizuho from a “neutral” rating to an “outperform” rating in a research report issued on Monday, Marketbeat reports. The brokerage presently has a $134.00 target price on the energy producer’s stock, up from their previous target price of $132.00. Mizuho’s price objective suggests a potential upside of 36.36% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on COP. Scotiabank cut their target price on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $140.00 price objective on shares of ConocoPhillips in a research note on Friday, September 13th. Truist Financial decreased their target price on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Barclays raised their price target on shares of ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Finally, Susquehanna boosted their price objective on ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $139.24.

ConocoPhillips Trading Down 1.3 %

COP opened at $98.27 on Monday. The company has a fifty day moving average price of $107.21 and a two-hundred day moving average price of $109.41. ConocoPhillips has a 1-year low of $96.75 and a 1-year high of $135.18. The company has a market cap of $113.10 billion, a P/E ratio of 11.68, a price-to-earnings-growth ratio of 0.83 and a beta of 1.18. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. The business had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The firm’s revenue for the quarter was down 8.5% on a year-over-year basis. During the same period in the prior year, the business earned $2.16 EPS. Analysts predict that ConocoPhillips will post 7.77 EPS for the current fiscal year.

Hedge Funds Weigh In On ConocoPhillips

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Values First Advisors Inc. purchased a new position in ConocoPhillips in the third quarter worth $26,000. Stephens Consulting LLC boosted its holdings in shares of ConocoPhillips by 69.3% in the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after purchasing an additional 104 shares in the last quarter. Reston Wealth Management LLC purchased a new position in shares of ConocoPhillips in the 3rd quarter worth about $31,000. Truvestments Capital LLC bought a new position in shares of ConocoPhillips during the 3rd quarter valued at about $31,000. Finally, Y.D. More Investments Ltd purchased a new position in shares of ConocoPhillips during the 2nd quarter valued at about $35,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

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.