ConocoPhillips (NYSE:COP) Stock Rating Upgraded by StockNews.com

ConocoPhillips (NYSE:COPGet Free Report) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Wednesday.

Several other equities research analysts have also issued reports on the stock. UBS Group increased their target price on shares of ConocoPhillips from $138.00 to $143.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Morgan Stanley increased their target price on shares of ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Scotiabank increased their price objective on shares of ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a report on Thursday, April 11th. Argus raised shares of ConocoPhillips to a “strong-buy” rating in a report on Friday, June 7th. Finally, Truist Financial increased their price objective on shares of ConocoPhillips from $160.00 to $165.00 and gave the company a “buy” rating in a report on Monday, June 3rd. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $144.35.

Read Our Latest Stock Report on ConocoPhillips

ConocoPhillips Price Performance

Shares of NYSE:COP opened at $110.86 on Wednesday. The firm’s 50 day moving average price is $122.46 and its 200-day moving average price is $117.64. ConocoPhillips has a twelve month low of $99.35 and a twelve month high of $135.18. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $129.65 billion, a PE ratio of 12.55, a price-to-earnings-growth ratio of 2.54 and a beta of 1.22.

ConocoPhillips (NYSE:COPGet Free Report) last released its earnings results on Thursday, May 2nd. The energy producer reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.04. The company had revenue of $14.48 billion during the quarter, compared to analyst estimates of $14.72 billion. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. Equities research analysts expect that ConocoPhillips will post 8.93 EPS for the current year.

Insider Buying and Selling

In related news, EVP Nicholas G. Olds sold 12,150 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $126.44, for a total value of $1,536,246.00. Following the completion of the sale, the executive vice president now directly owns 14,522 shares in the company, valued at $1,836,161.68. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Ryan Michael Lance sold 607,000 shares of ConocoPhillips stock in a transaction on Monday, March 25th. The stock was sold at an average price of $125.91, for a total transaction of $76,427,370.00. Following the completion of the sale, the chief executive officer now directly owns 6,780 shares in the company, valued at $853,669.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Nicholas G. Olds sold 12,150 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $126.44, for a total value of $1,536,246.00. Following the transaction, the executive vice president now owns 14,522 shares in the company, valued at approximately $1,836,161.68. The disclosure for this sale can be found here. Insiders sold a total of 664,350 shares of company stock worth $83,537,680 over the last three months. 0.34% of the stock is owned by insiders.

Hedge Funds Weigh In On ConocoPhillips

Institutional investors have recently made changes to their positions in the company. Columbia Trust Co 01012016 increased its stake in shares of ConocoPhillips by 1.2% during the fourth quarter. Columbia Trust Co 01012016 now owns 9,463 shares of the energy producer’s stock valued at $1,098,000 after buying an additional 112 shares during the period. Raymond James & Associates increased its stake in shares of ConocoPhillips by 1.5% during the fourth quarter. Raymond James & Associates now owns 1,563,044 shares of the energy producer’s stock valued at $181,422,000 after buying an additional 23,572 shares during the period. Quotient Wealth Partners LLC purchased a new position in ConocoPhillips in the fourth quarter valued at about $5,594,000. Townsquare Capital LLC raised its holdings in ConocoPhillips by 4.3% in the third quarter. Townsquare Capital LLC now owns 56,739 shares of the energy producer’s stock worth $6,797,000 after purchasing an additional 2,348 shares in the last quarter. Finally, HITE Hedge Asset Management LLC raised its holdings in ConocoPhillips by 51.2% in the fourth quarter. HITE Hedge Asset Management LLC now owns 116,711 shares of the energy producer’s stock worth $13,547,000 after purchasing an additional 39,498 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

About ConocoPhillips

(Get Free Report)

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.

See Also

Analyst Recommendations for ConocoPhillips (NYSE:COP)

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