ConocoPhillips (NYSE:COP) Given New $107.00 Price Target at Piper Sandler

ConocoPhillips (NYSE:COP) had its target price reduced by equities researchers at Piper Sandler from $114.00 to $107.00 in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports. The brokerage presently has an “overweight” rating on the energy producer’s stock. Piper Sandler’s price objective points to a potential upside of 15.40% from the stock’s current price.

COP has been the subject of several other reports. Morgan Stanley boosted their price objective on ConocoPhillips from $116.00 to $118.00 and gave the company an “overweight” rating in a report on Friday, May 9th. Mizuho lowered their price target on ConocoPhillips from $127.00 to $125.00 and set an “outperform” rating for the company in a report on Tuesday. Truist Financial raised their price objective on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Royal Bank of Canada lowered their target price on shares of ConocoPhillips from $133.00 to $120.00 and set an “outperform” rating for the company in a research note on Monday, April 14th. Finally, Raymond James downgraded shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and reduced their price target for the stock from $157.00 to $124.00 in a research report on Monday, February 10th. Three investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $122.74.

ConocoPhillips Stock Down 1.5%

Shares of NYSE:COP opened at $92.72 on Tuesday. The firm has a market cap of $117.21 billion, a PE ratio of 11.90, a price-to-earnings-growth ratio of 0.79 and a beta of 0.64. The company has a fifty day simple moving average of $93.29 and a 200 day simple moving average of $99.20. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $122.11.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.04. The company had revenue of $16.18 billion during the quarter, compared to analyst estimates of $15.74 billion. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. During the same period last year, the business earned $2.05 EPS. On average, equities research analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD raised its position in shares of ConocoPhillips by 13.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer’s stock worth $4,546,706,000 after buying an additional 5,549,078 shares in the last quarter. Leavell Investment Management Inc. increased its stake in shares of ConocoPhillips by 59.8% during the fourth quarter. Leavell Investment Management Inc. now owns 19,166 shares of the energy producer’s stock valued at $1,901,000 after acquiring an additional 7,174 shares during the period. Brookstone Capital Management raised its holdings in ConocoPhillips by 4.5% during the fourth quarter. Brookstone Capital Management now owns 8,855 shares of the energy producer’s stock worth $878,000 after purchasing an additional 383 shares in the last quarter. Heck Capital Advisors LLC acquired a new stake in ConocoPhillips in the fourth quarter worth approximately $1,767,000. Finally, Asset Management One Co. Ltd. boosted its stake in ConocoPhillips by 11.7% during the 4th quarter. Asset Management One Co. Ltd. now owns 519,371 shares of the energy producer’s stock valued at $50,345,000 after purchasing an additional 54,196 shares in 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.