Scotiabank Boosts ConocoPhillips (NYSE:COP) Price Target to $125.00
by Kim Johansen · The Markets DailyConocoPhillips (NYSE:COP – Get Free Report) had its target price boosted by investment analysts at Scotiabank from $100.00 to $125.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “sector perform” rating on the energy producer’s stock. Scotiabank’s target price suggests a potential upside of 2.13% from the company’s previous close.
COP has been the topic of a number of other reports. Sanford C. Bernstein raised their price objective on shares of ConocoPhillips from $98.00 to $121.00 and gave the company an “outperform” rating in a research note on Monday, April 13th. Roth Mkm lowered shares of ConocoPhillips from a “buy” rating to a “neutral” rating and set a $112.00 target price on the stock. in a report on Tuesday, February 17th. Argus raised their price target on shares of ConocoPhillips from $111.00 to $128.00 and gave the company a “strong-buy” rating in a research report on Friday, February 13th. Royal Bank Of Canada lifted their price target on ConocoPhillips from $118.00 to $152.00 and gave the company an “outperform” rating in a research note on Wednesday, April 8th. Finally, Morgan Stanley boosted their price objective on ConocoPhillips from $108.00 to $149.00 and gave the stock an “overweight” rating in a report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $131.36.
ConocoPhillips Stock Up 1.8%
Shares of NYSE COP traded up $2.13 during midday trading on Wednesday, hitting $122.39. 2,757,679 shares of the stock traded hands, compared to its average volume of 9,585,346. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.14 and a current ratio of 1.30. ConocoPhillips has a one year low of $84.28 and a one year high of $135.87. The business has a 50 day moving average price of $120.31 and a two-hundred day moving average price of $102.83. The company has a market cap of $149.17 billion, a PE ratio of 19.32, a P/E/G ratio of 2.12 and a beta of 0.19.
ConocoPhillips (NYSE:COP – Get Free Report) last issued its earnings results on Thursday, February 5th. The energy producer reported $1.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.21). ConocoPhillips had a return on equity of 11.90% and a net margin of 12.98%.The firm had revenue of $13.86 billion during the quarter, compared to the consensus estimate of $14.35 billion. ConocoPhillips’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.98 earnings per share. On average, equities analysts predict that ConocoPhillips will post 7.77 EPS for the current year.
Insiders Place Their Bets
In other ConocoPhillips news, SVP Andrew D. Lundquist sold 34,500 shares of the stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $119.68, for a total value of $4,128,960.00. Following the completion of the sale, the senior vice president owned 17,469 shares in the company, valued at approximately $2,090,689.92. This trade represents a 66.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Heather G. Hrap sold 2,654 shares of ConocoPhillips stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $119.68, for a total transaction of $317,630.72. Following the transaction, the senior vice president directly owned 5,663 shares in the company, valued at approximately $677,747.84. This represents a 31.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 734,891 shares of company stock worth $93,345,692 in the last ninety days. 0.09% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of COP. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in shares of ConocoPhillips in the 4th quarter worth about $25,000. Cloud Capital Management LLC bought a new stake in ConocoPhillips in the third quarter worth about $26,000. KERR FINANCIAL PLANNING Corp bought a new stake in ConocoPhillips in the third quarter worth about $28,000. Board of the Pension Protection Fund purchased a new position in ConocoPhillips in the fourth quarter valued at about $28,000. Finally, Strive Asset Management LLC purchased a new position in ConocoPhillips in the third quarter valued at about $28,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.
ConocoPhillips Company Profile
ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.
The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.