ConocoPhillips (NYSE:COP) Price Target Lowered to $114.00 at Piper Sandler

ConocoPhillips (NYSE:COP) had its price target cut by stock analysts at Piper Sandler from $135.00 to $114.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the energy producer’s stock. Piper Sandler’s price objective indicates a potential upside of 19.30% from the company’s previous close.

COP has been the topic of a number of other reports. Truist Financial lowered their target price on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Scotiabank cut their target price on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Mizuho upgraded ConocoPhillips from a “neutral” rating to an “outperform” rating and raised their price target for the company from $132.00 to $134.00 in a research report on Monday. UBS Group lowered their price target 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. Finally, Barclays lifted their price objective on ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $136.71.

ConocoPhillips Price Performance

NYSE:COP traded down $0.29 during mid-day trading on Thursday, hitting $95.56. 3,871,505 shares of the stock traded hands, compared to its average volume of 6,037,410. The business’s 50-day moving average price is $106.91 and its 200 day moving average price is $109.31. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The company has a market cap of $109.98 billion, a PE ratio of 11.36, a price-to-earnings-growth ratio of 0.83 and a beta of 1.18. ConocoPhillips has a 12-month low of $95.37 and a 12-month high of $135.18.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS 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 firm had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.97 billion. During the same period in the previous year, the business earned $2.16 EPS. The business’s revenue for the quarter was down 8.5% on a year-over-year basis. On average, analysts expect that ConocoPhillips will post 7.77 EPS for the current fiscal year.

Insider Activity

In other news, 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 price of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the acquisition, the director now directly owns 38,000 shares of the company’s stock, valued at approximately $3,716,400. The trade was a 37.68 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On ConocoPhillips

Hedge funds and other institutional investors have recently made changes to their positions in the business. LRI Investments LLC boosted its stake in shares of ConocoPhillips by 587.7% during the 2nd quarter. LRI Investments LLC now owns 3,122 shares of the energy producer’s stock worth $357,000 after acquiring an additional 2,668 shares during the last quarter. Capital Insight Partners LLC grew its stake in shares of ConocoPhillips by 2.5% during the 2nd quarter. Capital Insight Partners LLC now owns 5,592 shares of the energy producer’s stock valued at $640,000 after acquiring an additional 135 shares during the period. Atlantic Union Bankshares Corp lifted its holdings in ConocoPhillips by 53.3% during the second quarter. Atlantic Union Bankshares Corp now owns 48,216 shares of the energy producer’s stock valued at $5,515,000 after purchasing an additional 16,755 shares in the last quarter. Schwartz Investment Counsel Inc. boosted its position in shares of ConocoPhillips by 14.1% in the second quarter. Schwartz Investment Counsel Inc. now owns 135,800 shares of the energy producer’s stock worth $15,533,000 after purchasing an additional 16,800 shares during the period. Finally, Banque Pictet & Cie SA raised its position in shares of ConocoPhillips by 39.6% during the 2nd quarter. Banque Pictet & Cie SA now owns 11,450 shares of the energy producer’s stock valued at $1,310,000 after purchasing an additional 3,250 shares during the period. Hedge funds and other 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.