ConocoPhillips (NYSE:COP) Price Target Raised to $139.00 at Truist Financial

ConocoPhillips (NYSE:COP) had its price target boosted by equities researchers at Truist Financial from $138.00 to $139.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the energy producer’s stock. Truist Financial’s price target would suggest a potential upside of 35.28% from the stock’s previous close.

Several other brokerages also recently issued reports on COP. Susquehanna raised 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, November 1st. JPMorgan Chase & Co. upgraded shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $120.00 to $123.00 in a report on Thursday, December 5th. UBS Group reduced their target price on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Wells Fargo & Company boosted their price target on ConocoPhillips from $131.00 to $134.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Finally, Evercore ISI reiterated an “outperform” rating and issued a $165.00 price objective on shares of ConocoPhillips in a research report on Friday, December 6th. 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $136.76.

ConocoPhillips Stock Up 0.8 %

COP opened at $102.75 on Monday. The company has a market capitalization of $118.26 billion, a PE ratio of 12.22, a price-to-earnings-growth ratio of 0.83 and a beta of 1.19. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. ConocoPhillips has a fifty-two week low of $94.23 and a fifty-two week high of $135.18. The business has a 50-day moving average of $104.39 and a 200-day moving average of $107.70.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share 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 business had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.97 billion. During the same quarter last year, the firm earned $2.16 EPS. ConocoPhillips’s revenue for the quarter was down 8.5% on a year-over-year basis. Equities research analysts forecast that ConocoPhillips will post 7.77 EPS for the current fiscal year.

Insider Transactions at ConocoPhillips

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

Hedge Funds Weigh In On ConocoPhillips

Several hedge funds have recently made changes to their positions in COP. Excalibur Management Corp increased its position in shares of ConocoPhillips by 2.4% during the 2nd quarter. Excalibur Management Corp now owns 4,037 shares of the energy producer’s stock worth $462,000 after purchasing an additional 96 shares during the last quarter. Cypress Capital Group lifted its stake in ConocoPhillips by 0.5% in the third quarter. Cypress Capital Group now owns 18,790 shares of the energy producer’s stock valued at $1,978,000 after acquiring an additional 96 shares during the last quarter. Aprio Wealth Management LLC grew its position in shares of ConocoPhillips by 4.8% in the 3rd quarter. Aprio Wealth Management LLC now owns 2,125 shares of the energy producer’s stock valued at $224,000 after acquiring an additional 97 shares during the period. Greenwich Wealth Management LLC increased its stake in shares of ConocoPhillips by 4.0% during the 2nd quarter. Greenwich Wealth Management LLC now owns 2,581 shares of the energy producer’s stock worth $295,000 after purchasing an additional 99 shares during the last quarter. Finally, MRP Capital Investments LLC raised its holdings in shares of ConocoPhillips by 4.3% in the 2nd quarter. MRP Capital Investments LLC now owns 2,430 shares of the energy producer’s stock valued at $278,000 after purchasing an additional 100 shares during the period. 82.36% of the stock is owned by 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.