ConocoPhillips (NYSE:COP) Price Target Cut to $140.00 by Analysts at UBS Group

ConocoPhillips (NYSE:COP) had its target price lowered by research analysts at UBS Group from $153.00 to $140.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the energy producer’s stock. UBS Group’s price target indicates a potential upside of 28.78% from the stock’s current price.

Several other equities research analysts also recently weighed in on the stock. Mizuho dropped their target price on shares of ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating for the company in a research report on Monday. Barclays lifted their price objective on shares of ConocoPhillips from $158.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. Bank of America reissued a “buy” rating and set a $147.00 target price on shares of ConocoPhillips in a report on Friday, June 14th. Truist Financial decreased their price target on shares of 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 cut shares of ConocoPhillips from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, ConocoPhillips has a consensus rating of “Moderate Buy” and an average price target of $142.29.

ConocoPhillips Stock Up 0.4 %

COP traded up $0.42 during trading hours on Wednesday, reaching $108.71. 1,771,525 shares of the stock traded hands, compared to its average volume of 5,691,853. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.33 and a quick ratio of 1.19. The firm’s fifty day simple moving average is $109.97 and its two-hundred day simple moving average is $116.64. The company has a market cap of $126.24 billion, a price-to-earnings ratio of 12.28, a PEG ratio of 0.78 and a beta of 1.22. ConocoPhillips has a fifty-two week low of $101.29 and a fifty-two week high of $135.18.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, topping the consensus estimate of $1.96 by $0.02. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The business had revenue of $14.14 billion for the quarter, compared to analysts’ expectations of $14.96 billion. During the same quarter in the previous year, the firm posted $1.84 earnings per share. The company’s revenue was up 9.7% compared to the same quarter last year. As a group, analysts forecast that ConocoPhillips will post 8.41 earnings per share for the current fiscal year.

Insider Activity at ConocoPhillips

In other 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 approximately $49,288,321.99. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Gilbert & Cook Inc. lifted its holdings in shares of ConocoPhillips by 3.7% during the fourth quarter. Gilbert & Cook Inc. now owns 13,438 shares of the energy producer’s stock valued at $1,560,000 after purchasing an additional 483 shares during the last quarter. Hillsdale Investment Management Inc. acquired a new stake in shares of ConocoPhillips during the fourth quarter valued at approximately $41,000. Sachetta LLC purchased a new stake in shares of ConocoPhillips in the 4th quarter valued at approximately $27,000. CreativeOne Wealth LLC boosted its stake in ConocoPhillips by 1.7% in the 4th quarter. CreativeOne Wealth LLC now owns 6,706 shares of the energy producer’s stock worth $779,000 after purchasing an additional 109 shares during the period. Finally, Assetmark Inc. grew its position in ConocoPhillips by 10.9% during the 4th quarter. Assetmark Inc. now owns 158,698 shares of the energy producer’s stock worth $18,420,000 after purchasing an additional 15,655 shares in the last quarter. 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.