Mizuho Issues Pessimistic Forecast for ConocoPhillips (NYSE:COP) Stock Price

ConocoPhillips (NYSE:COP) had its price target reduced by equities research analysts at Mizuho from $127.00 to $125.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the energy producer’s stock. Mizuho’s price target would suggest a potential upside of 34.81% from the stock’s previous close.

COP has been the topic of a number of other reports. Wells Fargo & Company reduced their price objective on shares of ConocoPhillips from $131.00 to $116.00 and set an “overweight” rating on the stock in a report on Tuesday, April 15th. JPMorgan Chase & Co. cut their price target on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Morgan Stanley upped their price objective on ConocoPhillips from $116.00 to $118.00 and gave the stock an “overweight” rating in a research report on Friday, May 9th. Barclays cut their target price on ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. Finally, Truist Financial upped their price target on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a report on Monday, January 13th. Three research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, ConocoPhillips has a consensus rating of “Moderate Buy” and an average target price of $122.74.

ConocoPhillips Price Performance

COP stock opened at $92.72 on Tuesday. The business’s 50-day moving average is $93.29 and its two-hundred day moving average is $99.20. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. The firm has a market capitalization of $117.21 billion, a P/E ratio of 11.90, a P/E/G ratio of 0.79 and a beta of 0.64. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $122.11.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $2.05 by $0.04. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. The firm had revenue of $16.18 billion for the quarter, compared to analyst estimates of $15.74 billion. During the same period in the prior year, the firm earned $2.05 earnings per share. Analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ConocoPhillips

Several hedge funds have recently made changes to their positions in COP. Albion Financial Group UT grew its stake in shares of ConocoPhillips by 876.9% in the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after purchasing an additional 228 shares during the last quarter. Murphy & Mullick Capital Management Corp purchased a new position in ConocoPhillips in the 4th quarter valued at $26,000. Centricity Wealth Management LLC acquired a new position in ConocoPhillips in the 4th quarter valued at $27,000. 10Elms LLP purchased a new position in ConocoPhillips during the 4th quarter worth $28,000. Finally, Financial Network Wealth Advisors LLC lifted its stake in shares of ConocoPhillips by 341.5% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock worth $30,000 after acquiring an additional 222 shares during the period. Institutional investors and hedge funds 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.