Wells Fargo & Company Has Lowered Expectations for ConocoPhillips (NYSE:COP) Stock Price

ConocoPhillips (NYSE:COP) had its price target dropped by investment analysts at Wells Fargo & Company from $134.00 to $132.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the energy producer’s stock. Wells Fargo & Company‘s target price points to a potential upside of 25.18% from the company’s previous close.

Other research analysts have also issued research reports about the company. Piper Sandler dropped their price objective on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Mizuho upgraded shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and increased their price target for the company from $132.00 to $134.00 in a report on Monday, December 16th. BMO Capital Markets raised their price objective on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Barclays upped their target price on shares of ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. upgraded shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $120.00 to $123.00 in a research report on Thursday, December 5th. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $136.65.

ConocoPhillips Stock Up 0.5 %

COP stock opened at $105.45 on Tuesday. The stock has a market capitalization of $121.36 billion, a PE ratio of 12.54, a price-to-earnings-growth ratio of 0.83 and a beta of 1.19. The company has a fifty day moving average of $104.21 and a 200-day moving average of $107.56. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. ConocoPhillips has a one year low of $94.23 and a one year high of $135.18.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The firm had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. During the same quarter last year, the firm earned $2.16 earnings per share. The firm’s revenue was down 8.5% compared to the same quarter last year. As a group, analysts expect that ConocoPhillips will post 7.77 EPS for the current year.

Insider Buying and Selling

In other ConocoPhillips news, Director Arjun N. Murti purchased 2,500 shares of ConocoPhillips stock in a transaction on Friday, December 20th. The shares were bought at an average price of $95.87 per share, with a total value of $239,675.00. Following the purchase, the director now directly owns 21,500 shares in the company, valued at $2,061,205. This trade represents a 13.16 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director R A. Walker acquired 10,400 shares of the stock in a transaction dated Tuesday, December 17th. The stock was acquired at an average cost of $97.80 per share, with a total value of $1,017,120.00. Following the transaction, the director now owns 38,000 shares of the company’s stock, valued at approximately $3,716,400. This trade represents a 37.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ConocoPhillips

Several large investors have recently added to or reduced their stakes in the business. HF Advisory Group LLC lifted its holdings in shares of ConocoPhillips by 12.5% during the 4th quarter. HF Advisory Group LLC now owns 16,316 shares of the energy producer’s stock worth $1,618,000 after acquiring an additional 1,812 shares during the period. Aaron Wealth Advisors LLC increased its position in ConocoPhillips by 20.8% during the fourth quarter. Aaron Wealth Advisors LLC now owns 8,463 shares of the energy producer’s stock worth $839,000 after purchasing an additional 1,458 shares during the last quarter. Monarch Capital Management Inc. raised its stake in ConocoPhillips by 22.0% during the fourth quarter. Monarch Capital Management Inc. now owns 3,036 shares of the energy producer’s stock worth $301,000 after purchasing an additional 548 shares during the period. Astoria Portfolio Advisors LLC. boosted its holdings in shares of ConocoPhillips by 4.9% in the 4th quarter. Astoria Portfolio Advisors LLC. now owns 2,507 shares of the energy producer’s stock valued at $263,000 after purchasing an additional 117 shares during the last quarter. Finally, Financial Management Professionals Inc. grew its stake in shares of ConocoPhillips by 8.7% during the 4th quarter. Financial Management Professionals Inc. now owns 6,380 shares of the energy producer’s stock valued at $633,000 after buying an additional 509 shares during the period. 82.36% of the stock is currently 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.