BMO Capital Markets Cuts ConocoPhillips (NYSE:COP) Price Target to $117.00

ConocoPhillips (NYSE:COP) had its price objective lowered by stock analysts at BMO Capital Markets from $122.00 to $117.00 in a research note issued to investors on Wednesday,MarketScreener reports. The brokerage currently has a “buy” rating on the energy producer’s stock. BMO Capital Markets’ target price would indicate a potential upside of 30.68% from the company’s current price.

COP has been the topic of several other reports. Piper Sandler decreased their price objective on shares of ConocoPhillips from $124.00 to $115.00 and set an “overweight” rating on the stock in a research report on Monday, October 13th. Melius began coverage on ConocoPhillips in a research report on Wednesday, August 20th. They issued a “hold” rating and a $117.00 target price for the company. Mizuho decreased their price target on shares of ConocoPhillips from $125.00 to $120.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. Wall Street Zen raised shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Evercore ISI decreased their target price on shares of ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating on the stock in a research report on Monday, October 6th. Eighteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $115.33.

ConocoPhillips Stock Performance

Shares of NYSE:COP traded up $0.11 during midday trading on Wednesday, reaching $89.53. The company had a trading volume of 334,363 shares, compared to its average volume of 7,656,103. The stock has a market cap of $110.63 billion, a P/E ratio of 11.93, a P/E/G ratio of 2.36 and a beta of 0.58. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $115.38. The company’s 50 day moving average price is $90.96 and its 200 day moving average price is $91.94.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, November 6th. The energy producer reported $1.61 EPS for the quarter, beating the consensus estimate of $1.41 by $0.20. The business had revenue of $15.03 billion for the quarter, compared to the consensus estimate of $14.51 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The company’s revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.78 earnings per share. As a group, sell-side analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director William H. Mcraven bought 5,768 shares of ConocoPhillips stock in a transaction on Monday, November 10th. The shares were purchased at an average price of $86.68 per share, for a total transaction of $499,970.24. Following the acquisition, the director owned 5,768 shares of the company’s stock, valued at approximately $499,970.24. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.24% of the stock is owned by company insiders.

Institutional Trading of ConocoPhillips

Hedge funds and other institutional investors have recently modified their holdings of the business. iSAM Funds UK Ltd bought a new stake in ConocoPhillips in the third quarter worth $480,000. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna raised its position in shares of ConocoPhillips by 25.1% in the 3rd quarter. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna now owns 813 shares of the energy producer’s stock worth $77,000 after purchasing an additional 163 shares during the last quarter. von Borstel & Associates Inc. bought a new position in ConocoPhillips in the 3rd quarter worth about $207,000. NorthRock Partners LLC increased its stake in ConocoPhillips by 17.0% during the 3rd quarter. NorthRock Partners LLC now owns 18,563 shares of the energy producer’s stock valued at $1,756,000 after purchasing an additional 2,702 shares in the last quarter. Finally, Prudential PLC raised its holdings in ConocoPhillips by 70.2% in the third quarter. Prudential PLC now owns 23,524 shares of the energy producer’s stock worth $2,225,000 after buying an additional 9,702 shares during the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

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.