UBS Group Boosts ConocoPhillips (NYSE:COP) Price Target to $153.00

ConocoPhillips (NYSE:COP) had its price target boosted by analysts at UBS Group from $151.00 to $153.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the energy producer’s stock. UBS Group’s target price would suggest a potential upside of 36.90% from the stock’s previous close.

A number of other brokerages have also recently issued reports on COP. Wolfe Research began coverage on shares of ConocoPhillips in a research note on Thursday, July 18th. They issued an “outperform” rating and a $145.00 price target on the stock. Argus raised shares of ConocoPhillips to a “strong-buy” rating in a research report on Friday, June 7th. Raymond James reaffirmed a “strong-buy” rating and issued a $159.00 price objective (up from $155.00) on shares of ConocoPhillips in a research report on Thursday, May 30th. Truist Financial reduced their target price on ConocoPhillips from $147.00 to $145.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Finally, StockNews.com downgraded ConocoPhillips from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $143.65.

ConocoPhillips Price Performance

Shares of NYSE COP opened at $111.76 on Tuesday. The company has a 50 day simple moving average of $111.53 and a two-hundred day simple moving average of $117.04. ConocoPhillips has a fifty-two week low of $102.27 and a fifty-two week high of $135.18. The company has a market capitalization of $129.78 billion, a price-to-earnings ratio of 12.66, a P/E/G ratio of 2.18 and a beta of 1.24. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.33.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, beating analysts’ consensus estimates of $1.96 by $0.02. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The company had revenue of $14.14 billion during the quarter, compared to analyst estimates of $14.96 billion. During the same quarter last year, the company earned $1.84 EPS. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. Analysts expect that ConocoPhillips will post 8.64 EPS for the current fiscal year.

Insider Transactions at ConocoPhillips

In related news, Director Timothy A. Leach sold 55,500 shares of ConocoPhillips stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the transaction, the director now directly owns 455,909 shares in the company, valued at $49,288,321.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.34% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ConocoPhillips

A number of hedge funds have recently modified their holdings of COP. Sachetta LLC purchased a new position in shares of ConocoPhillips during the 4th quarter valued at $27,000. Cooksen Wealth LLC bought a new stake in ConocoPhillips during the fourth quarter valued at about $27,000. Cape Investment Advisory Inc. lifted its position in shares of ConocoPhillips by 96.0% in the fourth quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock valued at $29,000 after acquiring an additional 121 shares in the last quarter. Stephens Consulting LLC boosted its stake in shares of ConocoPhillips by 69.3% in the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after acquiring an additional 104 shares during the period. Finally, Richardson Capital Management LLC bought a new position in shares of ConocoPhillips in the first quarter worth about $31,000. 82.36% of the stock is currently owned by institutional investors.

About ConocoPhillips

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.