ConocoPhillips (NYSE:COP) Upgraded to “Outperform” at Mizuho

ConocoPhillips (NYSE:COP) was upgraded by equities researchers at Mizuho from a “neutral” rating to an “outperform” rating in a report issued on Monday, MarketBeat.com reports. The brokerage currently has a $134.00 target price on the energy producer’s stock, up from their previous target price of $132.00. Mizuho’s price objective points to a potential upside of 36.36% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. Truist Financial decreased their target price on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a report on Monday, September 30th. BMO Capital Markets upped their price objective on shares of ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Susquehanna lifted their target price on shares of ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. raised shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $120.00 to $123.00 in a research note on Thursday, December 5th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $140.00 price objective on shares of ConocoPhillips in a report on Friday, September 13th. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $139.24.

ConocoPhillips Stock Down 1.3 %

Shares of NYSE:COP opened at $98.27 on Monday. The stock has a market capitalization of $113.10 billion, a P/E ratio of 11.68, a price-to-earnings-growth ratio of 0.83 and a beta of 1.18. The stock’s 50-day moving average price is $107.21 and its 200-day moving average price is $109.41. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 12-month low of $96.75 and a 12-month high of $135.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The business had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. During the same period last year, the company earned $2.16 EPS. ConocoPhillips’s revenue for the quarter was down 8.5% compared to the same quarter last year. On average, equities analysts anticipate that ConocoPhillips will post 7.77 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Values First Advisors Inc. purchased a new position in ConocoPhillips during the third quarter valued at approximately $26,000. Stephens Consulting LLC grew its stake in ConocoPhillips by 69.3% during the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after acquiring an additional 104 shares in the last quarter. Reston Wealth Management LLC bought a new stake in ConocoPhillips in the 3rd quarter valued at $31,000. Truvestments Capital LLC purchased a new stake in ConocoPhillips in the 3rd quarter worth $31,000. Finally, Y.D. More Investments Ltd bought a new position in shares of ConocoPhillips during the 2nd quarter valued at about $35,000. 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.