ConocoPhillips (NYSE:COP – Get Free Report) was downgraded by analysts at Sanford C. Bernstein from an “outperform” rating to a “market perform” rating in a research note issued to investors on Wednesday, Marketbeat Ratings reports. They currently have a $122.00 price objective on the energy producer’s stock, down from their prior price objective of $129.00. Sanford C. Bernstein‘s target price indicates a potential downside of 11.43% from the stock’s previous close.
COP has been the topic of several other research reports. Piper Sandler began coverage on ConocoPhillips in a research note on Tuesday, October 27th. They set a “neutral” rating and a $157.00 price target on the stock. Weiss Ratings upgraded ConocoPhillips from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday. Truist Financial lifted their price objective on ConocoPhillips from $136.00 to $142.00 and gave the stock a “hold” rating in a research report on Monday. Barclays dropped their price objective on ConocoPhillips from $155.00 to $150.00 and set an “overweight” rating for the company in a report on Monday, August 17th. Finally, Raymond James Financial restated an “outperform” rating and set a $170.00 target price on shares of ConocoPhillips in a research report on Monday, November 2nd. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $144.73.
View Our Latest Report on ConocoPhillips
ConocoPhillips Stock Performance
COP stock opened at $137.75 on Wednesday. The company has a 50 day moving average price of $137.10 and a 200 day moving average price of $122.68. ConocoPhillips has a fifty-two week low of $85.70 and a fifty-two week high of $154.28. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.52 and a quick ratio of 1.37. The stock has a market capitalization of $162.87 billion, a PE ratio of 14.47, a price-to-earnings-growth ratio of 1.25 and a beta of 0.16.
ConocoPhillips (NYSE:COP – Get Free Report) last announced its quarterly earnings data on Thursday, November 5th. The energy producer reported $3.27 EPS for the quarter, beating analysts’ consensus estimates of $3.05 by $0.22. The firm had revenue of $19.44 billion for the quarter, compared to analyst estimates of $18.59 billion. ConocoPhillips had a return on equity of 17.60% and a net margin of 16.55%. The business’s quarterly revenue was up 29.2% compared to the same quarter last year. During the same period last year, the company earned $1.61 EPS. Analysts forecast that ConocoPhillips will post 12.09 EPS for the current year.
Insider Activity
In other news, SVP Andrew Lundquist sold 9,487 shares of the company’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $135.15, for a total value 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 represents a 49.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.09% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of COP. Carolina Wealth Advisors LLC bought a new stake in ConocoPhillips in the third quarter valued at approximately $28,000. Frazier Financial Advisors LLC raised its holdings in ConocoPhillips by 151.0% in the first quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock worth $32,000 after purchasing an additional 145 shares during the period. William Mack & Associates Inc. bought a new position in shares of ConocoPhillips during the third quarter worth $34,000. Ballast Advisors LLC bought a new position in shares of ConocoPhillips during the first quarter worth $36,000. Finally, Evergreen Advisors LLC acquired a new position in shares of ConocoPhillips in the 1st quarter valued at $36,000. Institutional investors own 82.36% of the company’s stock.
ConocoPhillips Company Profile
ConocoPhillips is an independent exploration and production company focused on finding, developing and producing oil and natural gas. Its products include crude oil, natural gas, liquefied natural gas and natural gas liquids. The company operates in several regions, including North America, Europe, the Middle East, North Africa and the Asia-Pacific. Its activities span exploration, development and production, with a portfolio that includes both conventional and unconventional resources. ConocoPhillips was formed in 2002 through the merger of Conoco and Phillips Petroleum.
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