ConocoPhillips (NYSE:COP) Price Target Cut to $140.00

ConocoPhillips (NYSE:COP) had its price objective lowered by UBS Group from $153.00 to $140.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the energy producer’s stock. UBS Group’s target price indicates a potential upside of 26.69% from the company’s previous close.

Several other research analysts also recently issued reports on COP. Royal Bank of Canada reissued an “outperform” rating and set a $140.00 price objective on shares of ConocoPhillips in a research report on Friday, September 13th. Scotiabank lowered their price target on ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. Wells Fargo & Company decreased their price objective on ConocoPhillips from $151.00 to $150.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. StockNews.com lowered ConocoPhillips from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, Barclays increased their price target on ConocoPhillips from $158.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $142.29.

ConocoPhillips Stock Up 1.7 %

ConocoPhillips stock opened at $110.51 on Wednesday. The company has a market capitalization of $128.33 billion, a P/E ratio of 12.52, a PEG ratio of 0.78 and a beta of 1.22. 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 has a fifty-two week low of $101.29 and a fifty-two week high of $135.18. The stock has a 50-day simple moving average of $109.82 and a 200-day simple moving average of $116.55.

ConocoPhillips (NYSE:COP) last issued 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. The company had revenue of $14.14 billion during the quarter, compared to analysts’ expectations of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.84 earnings per share. Equities research analysts expect that ConocoPhillips will post 8.41 earnings per share for the current year.

Insider Buying and Selling

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 completion of the transaction, the director now directly owns 455,909 shares of the company’s stock, valued at $49,288,321.99. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Sachetta LLC acquired a new stake in ConocoPhillips in the 4th quarter valued at about $27,000. Cooksen Wealth LLC purchased a new stake in shares of ConocoPhillips in the fourth quarter valued at about $27,000. Cape Investment Advisory Inc. grew 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 purchasing an additional 121 shares during the last quarter. Stephens Consulting LLC increased its stake in shares of ConocoPhillips by 69.3% during the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after purchasing an additional 104 shares in the last quarter. Finally, Richardson Capital Management LLC acquired a new position in shares of ConocoPhillips during the 1st quarter worth approximately $31,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

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.