ConocoPhillips (NYSE:COP) Price Target Increased to $125.00 by Analysts at BMO Capital Markets

ConocoPhillips (NYSE:COP) had its price target hoisted by analysts at BMO Capital Markets from $123.00 to $125.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an “outperform” rating on the energy producer’s stock. BMO Capital Markets’ price target indicates a potential upside of 9.72% from the company’s previous close.

Several other equities analysts have also recently issued reports on the company. Truist Financial lowered their price target on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday. StockNews.com lowered shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Royal Bank of Canada reiterated an “outperform” rating and issued a $140.00 target price on shares of ConocoPhillips in a report on Friday, September 13th. UBS Group reduced their target price on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Finally, Wolfe Research began coverage on shares of ConocoPhillips in a research report on Thursday, July 18th. They issued an “outperform” rating and a $145.00 price target on the stock. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $138.29.

ConocoPhillips Stock Performance

COP traded up $1.51 during trading hours on Friday, hitting $113.93. The company’s stock had a trading volume of 3,312,311 shares, compared to its average volume of 5,947,759. The company has a 50-day simple moving average of $108.69 and a 200 day simple moving average of $116.06. The company has a current ratio of 1.33, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $133.25 billion, a PE ratio of 12.91, a PEG ratio of 0.82 and a beta of 1.21. ConocoPhillips has a fifty-two week low of $101.29 and a fifty-two week high of $135.18.

ConocoPhillips (NYSE:COP) last announced 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. The firm had revenue of $14.14 billion during the quarter, compared to analyst estimates of $14.96 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. ConocoPhillips’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.84 EPS. As a group, sell-side analysts expect that ConocoPhillips will post 8.12 EPS for the current year.

Insider Activity at ConocoPhillips

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total value of $6,000,105.00. Following the completion of the sale, the director now owns 455,909 shares of the company’s stock, valued at $49,288,321.99. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On ConocoPhillips

Hedge funds have recently modified their holdings of the business. Czech National Bank raised its holdings in ConocoPhillips by 6.2% in the 3rd quarter. Czech National Bank now owns 236,559 shares of the energy producer’s stock valued at $24,905,000 after acquiring an additional 13,707 shares in the last quarter. AMF Tjanstepension AB lifted its position in ConocoPhillips by 4.7% in the third quarter. AMF Tjanstepension AB now owns 1,163,724 shares of the energy producer’s stock worth $122,628,000 after purchasing an additional 52,334 shares during the period. Central Pacific Bank Trust Division lifted its position in ConocoPhillips by 2.1% in the third quarter. Central Pacific Bank Trust Division now owns 15,833 shares of the energy producer’s stock worth $1,667,000 after purchasing an additional 328 shares during the period. Massmutual Trust Co. FSB ADV boosted its stake in ConocoPhillips by 3.8% during the third quarter. Massmutual Trust Co. FSB ADV now owns 48,757 shares of the energy producer’s stock worth $5,133,000 after buying an additional 1,783 shares in the last quarter. Finally, Cascade Investment Advisors Inc. increased its holdings in ConocoPhillips by 1.5% in the 3rd quarter. Cascade Investment Advisors Inc. now owns 15,200 shares of the energy producer’s stock valued at $1,600,000 after buying an additional 225 shares during the period. 82.36% of the stock is owned by institutional investors.

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.