ConocoPhillips (NYSE:COP) PT Lowered to $160.00

ConocoPhillips (NYSE:COP) had its price objective reduced by equities research analysts at Truist Financial from $170.00 to $160.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has a “buy” rating on the energy producer’s stock. Truist Financial’s price objective indicates a potential upside of 22.94% from the company’s previous close.

Several other equities analysts have also recently weighed in on the company. Scotiabank raised their price objective on ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a report on Thursday, April 11th. UBS Group raised their target price on shares of ConocoPhillips from $138.00 to $143.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. Morgan Stanley raised their target price on shares of ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Wells Fargo & Company raised their price objective on shares of ConocoPhillips from $141.00 to $149.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 10th. Finally, Raymond James cut their price objective on shares of ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $142.65.

ConocoPhillips Trading Down 0.1 %

ConocoPhillips stock traded down $0.09 during mid-day trading on Monday, hitting $130.15. 583,467 shares of the company’s stock were exchanged, compared to its average volume of 5,289,403. The firm has a market capitalization of $153.11 billion, a P/E ratio of 14.36, a PEG ratio of 2.72 and a beta of 1.24. The company’s 50 day simple moving average is $122.49 and its 200-day simple moving average is $117.60. The company has a quick ratio of 1.29, a current ratio of 1.43 and a debt-to-equity ratio of 0.36. ConocoPhillips has a fifty-two week low of $95.70 and a fifty-two week high of $135.18.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, February 8th. The energy producer reported $2.40 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.32. The company had revenue of $15.31 billion during the quarter, compared to analysts’ expectations of $14.47 billion. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. During the same quarter last year, the company earned $2.71 EPS. On average, equities analysts anticipate that ConocoPhillips will post 9.57 earnings per share for the current year.

Insider Activity at ConocoPhillips

In related news, CEO Ryan Michael Lance sold 607,000 shares of ConocoPhillips stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $125.91, for a total value of $76,427,370.00. Following the transaction, the chief executive officer now directly owns 6,780 shares of the company’s stock, valued at $853,669.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other ConocoPhillips news, CEO Ryan Michael Lance sold 607,000 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $125.91, for a total transaction of $76,427,370.00. Following the sale, the chief executive officer now owns 6,780 shares of the company’s stock, valued at $853,669.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Nicholas G. Olds sold 12,150 shares of the business’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $126.44, for a total transaction of $1,536,246.00. Following the sale, the executive vice president now directly owns 14,522 shares in the company, valued at approximately $1,836,161.68. The disclosure for this sale can be found here. Insiders have sold 700,775 shares of company stock valued at $87,615,169 over the last three months. 0.34% of the stock is owned by insiders.

Institutional Trading of ConocoPhillips

Institutional investors have recently modified their holdings of the business. Baxter Bros Inc. raised its holdings in shares of ConocoPhillips by 3.5% during the first quarter. Baxter Bros Inc. now owns 5,228 shares of the energy producer’s stock valued at $665,000 after purchasing an additional 175 shares during the period. Weatherly Asset Management L. P. raised its holdings in shares of ConocoPhillips by 1.5% in the 1st quarter. Weatherly Asset Management L. P. now owns 56,943 shares of the energy producer’s stock worth $7,248,000 after acquiring an additional 845 shares during the last quarter. Conning Inc. raised its holdings in shares of ConocoPhillips by 16.6% in the 1st quarter. Conning Inc. now owns 338,854 shares of the energy producer’s stock worth $43,045,000 after acquiring an additional 48,207 shares during the last quarter. Signature Wealth Management Partners LLC acquired a new stake in shares of ConocoPhillips in the 1st quarter worth about $217,000. Finally, Trueblood Wealth Management LLC raised its holdings in shares of ConocoPhillips by 4.0% in the 1st quarter. Trueblood Wealth Management LLC now owns 2,623 shares of the energy producer’s stock worth $334,000 after acquiring an additional 100 shares during the last quarter. Institutional investors 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.