ConocoPhillips (NYSE:COP) Stock Price Expected to Rise, Susquehanna Analyst Says

ConocoPhillips (NYSE:COP) had its price objective increased by analysts at Susquehanna from $121.00 to $149.00 in a report released on Tuesday,MarketScreener reports. The brokerage presently has a “positive” rating on the energy producer’s stock. Susquehanna’s price objective points to a potential upside of 27.51% from the company’s current price.

A number of other equities analysts have also issued reports on the stock. Citigroup raised their price target on shares of ConocoPhillips from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, April 2nd. Bank of America reiterated an “underperform” rating and issued a $102.00 price objective on shares of ConocoPhillips in a research note on Friday, January 16th. Wolfe Research boosted their target price on shares of ConocoPhillips from $138.00 to $144.00 and gave the company an “outperform” rating in a research report on Monday, April 6th. Scotiabank raised ConocoPhillips to a “hold” rating in a research report on Friday, March 27th. Finally, Jefferies Financial Group upped their target price on ConocoPhillips from $129.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, April 13th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $130.36.

ConocoPhillips Stock Up 0.4%

ConocoPhillips stock opened at $116.86 on Tuesday. The business’s 50-day simple moving average is $120.06 and its two-hundred day simple moving average is $102.65. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.14 and a current ratio of 1.30. The company has a market cap of $142.43 billion, a PE ratio of 18.44, a PEG ratio of 2.09 and a beta of 0.19. ConocoPhillips has a fifty-two week low of $84.28 and a fifty-two week high of $135.87.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, February 5th. The energy producer reported $1.02 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.21). The firm had revenue of $13.86 billion for the quarter, compared to analyst estimates of $14.35 billion. ConocoPhillips had a return on equity of 11.90% and a net margin of 12.98%.The company’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period last year, the firm earned $1.98 EPS. Equities analysts anticipate that ConocoPhillips will post 7.77 EPS for the current year.

Insider Activity

In other ConocoPhillips news, CEO Ryan Michael Lance sold 506,800 shares of the business’s stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of $127.26, for a total transaction of $64,495,368.00. Following the completion of the sale, the chief executive officer directly owned 6,835 shares in the company, valued at approximately $869,822.10. The trade was a 98.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Nicholas G. Olds sold 14,522 shares of the stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $119.36, for a total value of $1,733,345.92. Following the transaction, the executive vice president directly owned 12,389 shares of the company’s stock, valued at $1,478,751.04. The trade was a 53.96% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 734,891 shares of company stock worth $93,345,692. Company insiders own 0.09% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tema Etfs LLC acquired a new position in ConocoPhillips in the 3rd quarter valued at about $1,804,000. Victory Capital Management Inc. raised its position in shares of ConocoPhillips by 14.7% during the 3rd quarter. Victory Capital Management Inc. now owns 2,331,176 shares of the energy producer’s stock valued at $220,506,000 after buying an additional 298,245 shares during the period. Natixis Advisors LLC lifted its holdings in ConocoPhillips by 8.7% in the third quarter. Natixis Advisors LLC now owns 1,996,426 shares of the energy producer’s stock valued at $188,842,000 after acquiring an additional 160,410 shares during the last quarter. D.A. Davidson & CO. grew its position in ConocoPhillips by 12.1% in the third quarter. D.A. Davidson & CO. now owns 140,829 shares of the energy producer’s stock worth $13,321,000 after acquiring an additional 15,202 shares during the period. Finally, Chilton Capital Management LLC grew its position in ConocoPhillips by 3.2% in the third quarter. Chilton Capital Management LLC now owns 389,995 shares of the energy producer’s stock worth $36,890,000 after acquiring an additional 11,958 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

About ConocoPhillips

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.