ConocoPhillips (NYSE:COP) Price Target Cut to $129.00

ConocoPhillips (NYSE:COP) had its price target lowered by investment analysts at Mizuho from $132.00 to $129.00 in a report released on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the energy producer’s stock. Mizuho’s price objective points to a potential upside of 19.11% from the company’s current price.

A number of other equities research analysts also recently issued reports on COP. Royal Bank of Canada reissued an “outperform” rating and issued a $140.00 price target on shares of ConocoPhillips in a report on Friday, September 13th. Wells Fargo & Company reduced their price target on shares of ConocoPhillips from $151.00 to $150.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Bank of America reiterated a “buy” rating and issued a $147.00 price objective on shares of ConocoPhillips in a research report on Friday, June 14th. UBS Group lifted their price objective on ConocoPhillips from $151.00 to $153.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Finally, StockNews.com lowered ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and an average price target of $143.06.

ConocoPhillips Stock Up 2.6 %

COP stock opened at $108.30 on Monday. The stock has a fifty day moving average of $109.97 and a 200-day moving average of $116.64. ConocoPhillips has a fifty-two week low of $101.29 and a fifty-two week high of $135.18. The company has a market capitalization of $125.76 billion, a price-to-earnings ratio of 12.27, a PEG ratio of 0.78 and a beta of 1.22. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.33.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.02. The company had revenue of $14.14 billion during the quarter, compared to analysts’ expectations of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.84 earnings per share. As a group, equities research analysts predict that ConocoPhillips will post 8.41 earnings per share for the current year.

Insider Buying and Selling at ConocoPhillips

In other news, Director Timothy A. Leach sold 55,500 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the completion of the transaction, the director now directly owns 455,909 shares of the company’s stock, valued at $49,288,321.99. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Gilbert & Cook Inc. boosted its stake in ConocoPhillips by 3.7% during the fourth quarter. Gilbert & Cook Inc. now owns 13,438 shares of the energy producer’s stock worth $1,560,000 after acquiring an additional 483 shares in the last quarter. Meridian Wealth Management LLC increased its position in ConocoPhillips by 9.2% during the fourth quarter. Meridian Wealth Management LLC now owns 2,919 shares of the energy producer’s stock valued at $339,000 after acquiring an additional 247 shares during the last quarter. Hillsdale Investment Management Inc. purchased a new position in shares of ConocoPhillips in the fourth quarter worth approximately $41,000. Paragon Private Wealth Management LLC increased its stake in shares of ConocoPhillips by 8.7% in the 4th quarter. Paragon Private Wealth Management LLC now owns 1,851 shares of the energy producer’s stock worth $215,000 after purchasing an additional 148 shares in the last quarter. Finally, Coldstream Capital Management Inc. raised its stake in shares of ConocoPhillips by 23.6% in the fourth quarter. Coldstream Capital Management Inc. now owns 20,451 shares of the energy producer’s stock worth $2,374,000 after buying an additional 3,910 shares during the period. 82.36% of the stock is currently owned by institutional investors.

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.