ConocoPhillips (NYSE:COP) Price Target Lowered to $135.00 at Barclays

ConocoPhillips (NYSE:COP) had its price target reduced by investment analysts at Barclays from $137.00 to $135.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the energy producer’s stock. Barclays‘s target price points to a potential upside of 32.71% from the company’s current price.

A number of other equities research analysts also recently issued reports on COP. Truist Financial increased their target price on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Susquehanna increased their price objective on ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a report on Friday, November 1st. Morgan Stanley assumed coverage on ConocoPhillips in a research note on Monday, December 16th. They issued an “overweight” rating and a $128.00 target price on the stock. Raymond James downgraded ConocoPhillips from a “strong-buy” rating to an “outperform” rating and cut their price target for the stock from $157.00 to $124.00 in a research note on Monday. Finally, JPMorgan Chase & Co. raised ConocoPhillips from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $120.00 to $123.00 in a research note on Thursday, December 5th. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $133.72.

ConocoPhillips Price Performance

Shares of NYSE:COP opened at $101.72 on Monday. The company has a market cap of $117.08 billion, a P/E ratio of 13.06, a price-to-earnings-growth ratio of 0.77 and a beta of 1.18. The company’s fifty day moving average is $100.91 and its two-hundred day moving average is $106.03. The company has a quick ratio of 1.16, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. ConocoPhillips has a 12-month low of $94.23 and a 12-month high of $135.18.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. Equities analysts expect that ConocoPhillips will post 8.3 earnings per share for the current fiscal year.

Insider Activity at ConocoPhillips

In related news, Director Arjun N. Murti acquired 2,500 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was acquired 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 owns 21,500 shares of the company’s stock, valued at approximately $2,061,205. This represents a 13.16 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director R A. Walker bought 10,400 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The shares were purchased 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 owns 38,000 shares of the company’s stock, valued at $3,716,400. This 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 owned by corporate insiders.

Institutional Trading of ConocoPhillips

A number of hedge funds have recently modified their holdings of COP. Signature Estate & Investment Advisors LLC lifted its position in ConocoPhillips by 10.4% in the fourth quarter. Signature Estate & Investment Advisors LLC now owns 4,252 shares of the energy producer’s stock worth $422,000 after purchasing an additional 402 shares during the period. Zions Bancorporation N.A. raised its stake in ConocoPhillips by 29.3% during the fourth quarter. Zions Bancorporation N.A. now owns 529 shares of the energy producer’s stock worth $52,000 after acquiring an additional 120 shares in the last quarter. TIAA Trust National Association grew its stake in ConocoPhillips by 38.9% during the fourth quarter. TIAA Trust National Association now owns 239,498 shares of the energy producer’s stock worth $23,749,000 after buying an additional 67,038 shares during the last quarter. FineMark National Bank & Trust boosted its stake in ConocoPhillips by 2.7% in the fourth quarter. FineMark National Bank & Trust now owns 12,629 shares of the energy producer’s stock worth $1,252,000 after purchasing an additional 330 shares in the last quarter. Finally, Modern Wealth Management LLC raised its stake in shares of ConocoPhillips by 48.4% in the fourth quarter. Modern Wealth Management LLC now owns 12,702 shares of the energy producer’s stock worth $1,264,000 after acquiring an additional 4,141 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.