ConocoPhillips (NYSE:COP) Price Target Raised to $132.00 at Mizuho

ConocoPhillips (NYSE:COP) had its price target raised by analysts at Mizuho from $129.00 to $132.00 in a research note issued on Friday, Benzinga reports. The firm presently has a “neutral” rating on the energy producer’s stock. Mizuho’s target price suggests a potential upside of 23.16% from the stock’s current price.

Other equities research analysts have also issued reports about the company. Barclays upped their price objective on ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research note on Friday. JPMorgan Chase & Co. restated a “neutral” rating and set a $126.00 price objective (down from $139.00) on shares of ConocoPhillips in a research report on Friday, October 11th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $140.00 target price on shares of ConocoPhillips in a report on Friday, September 13th. Sanford C. Bernstein dropped their price target on ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. Finally, Susquehanna lifted their price objective on shares of ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research note on Friday. Six equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $137.47.

ConocoPhillips Stock Down 2.2 %

COP traded down $2.36 during trading on Friday, reaching $107.18. The stock had a trading volume of 4,084,073 shares, compared to its average volume of 5,892,377. The stock’s 50 day moving average is $108.01 and its two-hundred day moving average is $113.17. ConocoPhillips has a one year low of $101.29 and a one year high of $135.18. The company has a market capitalization of $124.46 billion, a price-to-earnings ratio of 11.93, a P/E/G ratio of 0.84 and a beta of 1.21. The company has a current ratio of 1.33, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last issued its 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 net margin of 18.18% and a return on equity of 20.81%. The firm had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.97 billion. During the same quarter in the prior year, the firm posted $2.16 earnings per share. The business’s revenue was down 8.5% on a year-over-year basis. As a group, analysts expect that ConocoPhillips will post 7.76 earnings per share for the current year.

Insider Transactions at ConocoPhillips

In related news, Director Timothy A. Leach sold 55,500 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $49,288,321.99. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in COP. CWA Asset Management Group LLC acquired a new stake in shares of ConocoPhillips during the third quarter worth about $337,000. Equitable Trust Co. raised its stake in shares of ConocoPhillips by 11.8% during the 3rd quarter. Equitable Trust Co. now owns 9,595 shares of the energy producer’s stock worth $1,010,000 after buying an additional 1,015 shares during the period. Capital Performance Advisors LLP purchased a new position in ConocoPhillips during the third quarter valued at $60,000. Philip James Wealth Mangement LLC purchased a new stake in ConocoPhillips during the 3rd quarter worth approximately $8,136,000. Finally, AIA Group Ltd boosted its stake in ConocoPhillips by 36.1% during the 3rd quarter. AIA Group Ltd now owns 20,718 shares of the energy producer’s stock worth $2,181,000 after purchasing an additional 5,494 shares during the last quarter. Hedge funds and other institutional investors 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.