ConocoPhillips (NYSE:COP) Price Target Lowered to $138.00 at Truist Financial

ConocoPhillips (NYSE:COP) had its target price lowered by equities research analysts at Truist Financial from $145.00 to $138.00 in a report released on Monday, Benzinga reports. The firm currently has a “buy” rating on the energy producer’s stock. Truist Financial’s price objective indicates a potential upside of 26.17% from the company’s current price.

Other analysts also recently issued research reports about the company. StockNews.com downgraded ConocoPhillips from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Wolfe Research assumed coverage on ConocoPhillips in a report on Thursday, July 18th. They issued an “outperform” rating and a $145.00 target price on the stock. Sanford C. Bernstein dropped their target price on ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Bank of America reiterated a “buy” rating and issued a $147.00 target price on shares of ConocoPhillips in a report on Friday, June 14th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $140.00 target price on shares of ConocoPhillips in a report on Friday, September 13th. Five research 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 stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $140.82.

ConocoPhillips Price Performance

Shares of ConocoPhillips stock opened at $109.38 on Monday. The company’s 50-day moving average price is $108.68 and its two-hundred day moving average price is $116.13. The company has a current ratio of 1.33, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34. The stock has a market cap of $127.92 billion, a PE ratio of 12.39, a price-to-earnings-growth ratio of 0.85 and a beta of 1.22. ConocoPhillips has a 52 week low of $101.29 and a 52 week high of $135.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.02. The firm had revenue of $14.14 billion for the quarter, compared to the consensus estimate of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.84 EPS. As a group, sell-side analysts anticipate that ConocoPhillips will post 8.14 EPS for the current fiscal year.

Insiders Place Their Bets

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 455,909 shares of the company’s stock, valued at $49,288,321.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On ConocoPhillips

A number of large investors have recently added to or reduced their stakes in COP. Price T Rowe Associates Inc. MD grew its stake in shares of ConocoPhillips by 35.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 32,192,580 shares of the energy producer’s stock worth $4,097,473,000 after acquiring an additional 8,479,963 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in shares of ConocoPhillips by 512.8% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,737,026 shares of the energy producer’s stock worth $433,757,000 after acquiring an additional 3,127,165 shares during the last quarter. Capital International Investors grew its stake in shares of ConocoPhillips by 9.6% in the first quarter. Capital International Investors now owns 21,252,822 shares of the energy producer’s stock worth $2,705,059,000 after acquiring an additional 1,856,085 shares during the last quarter. Clearbridge Investments LLC grew its stake in shares of ConocoPhillips by 46.0% in the first quarter. Clearbridge Investments LLC now owns 3,219,929 shares of the energy producer’s stock worth $409,833,000 after acquiring an additional 1,015,158 shares during the last quarter. Finally, TD Asset Management Inc grew its stake in shares of ConocoPhillips by 34.7% in the first quarter. TD Asset Management Inc now owns 2,762,431 shares of the energy producer’s stock worth $351,602,000 after acquiring an additional 712,062 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

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.