TD Cowen Initiates Coverage on ConocoPhillips (NYSE:COP)

Stock analysts at TD Cowen started coverage on shares of ConocoPhillips (NYSE:COP) in a report released on Friday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $125.00 price target on the energy producer’s stock. TD Cowen’s target price would indicate a potential upside of 18.35% from the company’s current price.

COP has been the topic of several other reports. Susquehanna lifted their target price on shares of ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research report on Friday, November 1st. Barclays upped their target price on ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Scotiabank cut their price objective on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. BMO Capital Markets boosted their price objective on shares of ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Finally, Piper Sandler lowered their target price on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, ConocoPhillips presently has a consensus rating of “Buy” and a consensus target price of $136.00.

ConocoPhillips Trading Up 0.1 %

NYSE:COP opened at $105.62 on Friday. ConocoPhillips has a 12-month low of $94.23 and a 12-month high of $135.18. The firm has a market capitalization of $121.56 billion, a P/E ratio of 12.56, a P/E/G ratio of 0.81 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. The business has a 50 day simple moving average of $104.05 and a 200 day simple moving average of $107.54.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.10. The business had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The company’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.16 earnings per share. Equities research analysts predict that ConocoPhillips will post 7.7 EPS for the current year.

Insider Transactions at ConocoPhillips

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Values First Advisors Inc. bought a new position in ConocoPhillips in the 3rd quarter valued at $26,000. Reston Wealth Management LLC acquired a new stake in shares of ConocoPhillips in the third quarter valued at $31,000. Truvestments Capital LLC bought a new position in shares of ConocoPhillips in the third quarter valued at about $31,000. Global Wealth Strategies & Associates lifted its position in ConocoPhillips by 80.5% during the 4th quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock worth $34,000 after buying an additional 153 shares in the last quarter. Finally, RPg Family Wealth Advisory LLC bought a new stake in ConocoPhillips during the 3rd quarter worth about $35,000. 82.36% of the stock is owned by institutional investors and hedge funds.

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.