Analysts at Stifel Nicolaus assumed coverage on shares of ConocoPhillips (NYSE:COP – Get Free Report) in a research report issued on Thursday, FinViz reports. The firm set a “hold” rating and a $148.00 price target on the energy producer’s stock. Stifel Nicolaus’ price target indicates a potential upside of 8.28% from the company’s current price.
A number of other analysts have also commented on COP. Mizuho decreased their target price on ConocoPhillips from $150.00 to $146.00 and set an “outperform” rating for the company in a research report on Tuesday, July 7th. The Goldman Sachs Group decreased their price objective on ConocoPhillips from $144.00 to $138.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. UBS Group boosted their price target on shares of ConocoPhillips from $143.00 to $153.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Wall Street Zen upgraded shares of ConocoPhillips from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Finally, Jefferies Financial Group raised their price objective on shares of ConocoPhillips from $160.00 to $161.00 and gave the company a “buy” rating in a research note on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, ConocoPhillips has a consensus rating of “Moderate Buy” and a consensus target price of $140.60.
ConocoPhillips Stock Up 1.2%
ConocoPhillips (NYSE:COP – Get Free Report) last announced its earnings results on Thursday, August 6th. The energy producer reported $3.24 EPS for the quarter, beating the consensus estimate of $2.90 by $0.34. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%.The company had revenue of $19.52 billion for the quarter, compared to analyst estimates of $18.79 billion. During the same quarter in the prior year, the company earned $1.42 EPS. The firm’s revenue for the quarter was up 32.4% compared to the same quarter last year. Equities analysts forecast that ConocoPhillips will post 10.54 earnings per share for the current year.
Insider Transactions at ConocoPhillips
In other news, SVP Andrew Lundquist sold 9,487 shares of the firm’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $135.15, for a total transaction of $1,282,168.05. Following the completion of the sale, the senior vice president directly owned 9,593 shares of the company’s stock, valued at $1,296,493.95. This trade represents a 49.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.09% of the stock is owned by company insiders.
Hedge Funds Weigh In On ConocoPhillips
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. B. Metzler seel. Sohn & Co. AG purchased a new stake in shares of ConocoPhillips in the second quarter worth about $6,896,000. Qsemble Capital Management LP bought a new position in ConocoPhillips in the 2nd quarter valued at $3,645,000. Nicholas Investment Partners LP purchased a new position in shares of ConocoPhillips during the 2nd quarter valued at $6,498,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of ConocoPhillips by 255.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,857,206 shares of the energy producer’s stock worth $173,853,000 after purchasing an additional 1,334,687 shares during the period. Finally, Caitong International Asset Management Co. Ltd raised its position in shares of ConocoPhillips by 3,112.4% in the second quarter. Caitong International Asset Management Co. Ltd now owns 17,604 shares of the energy producer’s stock worth $1,830,000 after buying an additional 17,056 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.
ConocoPhillips Company Profile
ConocoPhillips (NYSE:COP) is an independent exploration and production company engaged primarily in finding, developing and producing crude oil, natural gas and natural gas liquids. The company sells its production to refiners, utilities, industrial customers and other energy market participants.
Its portfolio includes conventional and unconventional assets, with operations and development activities in the United States, including Alaska and the Lower 48, as well as Canada, Australia, Norway, Qatar and other international locations.
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