Bank of America Reiterates “Underperform” Rating for ConocoPhillips (NYSE:COP)

ConocoPhillips (NYSE:COP)‘s stock had its “underperform” rating restated by equities research analysts at Bank of America in a research report issued to clients and investors on Friday, MarketBeat.com reports. They presently have a $102.00 price objective on the energy producer’s stock. Bank of America‘s price target points to a potential upside of 3.12% from the stock’s current price.

A number of other equities analysts have also recently commented on COP. Royal Bank Of Canada lifted their price objective on shares of ConocoPhillips from $113.00 to $118.00 and gave the stock an “outperform” rating in a research report on Monday, October 13th. Piper Sandler cut their target price on shares of ConocoPhillips from $115.00 to $109.00 and set an “overweight” rating for the company in a research note on Thursday, January 8th. BMO Capital Markets decreased their price target on shares of ConocoPhillips from $110.00 to $105.00 and set an “outperform” rating on the stock in a research note on Monday, December 15th. JPMorgan Chase & Co. cut their price objective on shares of ConocoPhillips from $102.00 to $98.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, Johnson Rice cut ConocoPhillips from an “accumulate” rating to a “hold” rating and reduced their price objective for the stock from $108.00 to $105.00 in a report on Friday, December 5th. Eighteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $111.40.

ConocoPhillips Price Performance

Shares of NYSE COP opened at $98.91 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. The business’s 50 day moving average price is $92.43 and its two-hundred day moving average price is $92.85. The company has a market cap of $122.23 billion, a PE ratio of 13.99, a price-to-earnings-growth ratio of 2.72 and a beta of 0.32. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $106.20.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, November 6th. The energy producer reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.20. The company had revenue of $15.03 billion during the quarter, compared to analysts’ expectations of $14.51 billion. ConocoPhillips had a return on equity of 13.64% and a net margin of 14.25%.The business’s revenue was up 14.1% on a year-over-year basis. During the same period last year, the firm posted $1.78 earnings per share. On average, analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

Insider Activity at ConocoPhillips

In other news, CEO Ryan Michael Lance sold 500,708 shares of the firm’s stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $92.50, for a total transaction of $46,315,490.00. Following the transaction, the chief executive officer directly owned 325,972 shares of the company’s stock, valued at approximately $30,152,410. This trade represents a 60.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William H. Mcraven purchased 5,768 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The stock was bought at an average price of $86.68 per share, with a total value of $499,970.24. Following the completion of the purchase, the director owned 5,768 shares of the company’s stock, valued at $499,970.24. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. 0.24% of the stock is currently owned by company insiders.

Institutional Trading of ConocoPhillips

Several large investors have recently modified their holdings of COP. Dynamic Advisor Solutions LLC increased its holdings in ConocoPhillips by 4.8% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 18,566 shares of the energy producer’s stock valued at $1,666,000 after buying an additional 851 shares during the period. Sovran Advisors LLC lifted its holdings in shares of ConocoPhillips by 1.2% during the 2nd quarter. Sovran Advisors LLC now owns 15,027 shares of the energy producer’s stock worth $1,439,000 after acquiring an additional 175 shares during the period. Focus Financial Network Inc. boosted its position in shares of ConocoPhillips by 4.4% during the 2nd quarter. Focus Financial Network Inc. now owns 5,445 shares of the energy producer’s stock worth $489,000 after acquiring an additional 228 shares in the last quarter. HF Advisory Group LLC increased its stake in ConocoPhillips by 11.6% in the second quarter. HF Advisory Group LLC now owns 19,438 shares of the energy producer’s stock valued at $1,744,000 after acquiring an additional 2,028 shares during the last quarter. Finally, YHB Investment Advisors Inc. raised its position in ConocoPhillips by 4.0% during the second quarter. YHB Investment Advisors Inc. now owns 17,625 shares of the energy producer’s stock valued at $1,582,000 after purchasing an additional 682 shares in the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Company Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.