ConocoPhillips (NYSE:COP) Coverage Initiated at Morgan Stanley

Equities researchers at Morgan Stanley began coverage on shares of ConocoPhillips (NYSE:COP) in a research note issued on Monday, MarketBeat reports. The brokerage set an “overweight” rating and a $128.00 price target on the energy producer’s stock. Morgan Stanley’s price target indicates a potential upside of 30.25% from the stock’s previous close.

Other analysts also recently issued research reports about the company. Scotiabank decreased their target price on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. Wells Fargo & Company boosted their price target on shares of ConocoPhillips from $131.00 to $134.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Evercore ISI reiterated an “outperform” rating and issued a $165.00 price objective on shares of ConocoPhillips in a research note on Friday, December 6th. BMO Capital Markets upped their price target on ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Finally, Susquehanna lifted their price objective on ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a report on Friday, November 1st. Two investment 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 company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $139.24.

ConocoPhillips Stock Down 1.3 %

Shares of ConocoPhillips stock opened at $98.27 on Monday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. The firm has a market cap of $113.10 billion, a price-to-earnings ratio of 11.68, a P/E/G ratio of 0.83 and a beta of 1.18. The stock has a 50-day simple moving average of $107.21 and a 200-day simple moving average of $109.41. ConocoPhillips has a 52-week low of $96.75 and a 52-week high of $135.18.

ConocoPhillips (NYSE:COP) last announced 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 company had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The business’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.16 earnings per share. On average, equities research analysts expect that ConocoPhillips will post 7.77 earnings per share for the current fiscal year.

Institutional Trading of ConocoPhillips

A number of institutional investors have recently bought and sold shares of the business. State Street Corp boosted its position in shares of ConocoPhillips by 19.0% in the 3rd quarter. State Street Corp now owns 66,928,793 shares of the energy producer’s stock worth $7,046,263,000 after purchasing an additional 10,663,093 shares during the last quarter. Wellington Management Group LLP increased its holdings in ConocoPhillips by 20.2% in the third quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer’s stock valued at $3,280,725,000 after purchasing an additional 5,240,016 shares during the last quarter. Fisher Asset Management LLC lifted its stake in ConocoPhillips by 59.7% in the third quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer’s stock valued at $1,311,369,000 after buying an additional 4,656,040 shares during the period. Pacer Advisors Inc. boosted its holdings in ConocoPhillips by 5,422.3% during the third quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer’s stock worth $482,996,000 after buying an additional 4,504,653 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in shares of ConocoPhillips by 12.5% during the 3rd quarter. Franklin Resources Inc. now owns 13,557,351 shares of the energy producer’s stock worth $1,469,163,000 after buying an additional 1,506,599 shares during the period. Institutional investors and hedge funds 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.