Piper Sandler Has Lowered Expectations for ConocoPhillips (NYSE:COP) Stock Price

ConocoPhillips (NYSE:COP) had its target price dropped by research analysts at Piper Sandler from $114.00 to $107.00 in a report issued on Tuesday, MarketBeat reports. The firm currently has an “overweight” rating on the energy producer’s stock. Piper Sandler’s price target would indicate a potential upside of 15.40% from the stock’s current price.

Other equities analysts have also recently issued reports about the company. Morgan Stanley lifted their price objective on ConocoPhillips from $116.00 to $118.00 and gave the stock an “overweight” rating in a report on Friday, May 9th. UBS Group decreased their price objective on shares of ConocoPhillips from $116.00 to $111.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. Scotiabank dropped their target price on shares of ConocoPhillips from $115.00 to $95.00 and set a “sector perform” rating for the company in a report on Friday, April 11th. Wells Fargo & Company cut their price target on ConocoPhillips from $131.00 to $116.00 and set an “overweight” rating for the company in a report on Tuesday, April 15th. Finally, Barclays decreased their price objective on ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. Three analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $122.74.

ConocoPhillips Stock Down 1.5%

Shares of NYSE COP opened at $92.72 on Tuesday. The stock has a market capitalization of $117.21 billion, a price-to-earnings ratio of 11.90, a price-to-earnings-growth ratio of 0.79 and a beta of 0.64. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $122.11. The firm has a 50-day moving average price of $93.29 and a 200 day moving average price of $99.20. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.05 by $0.04. The company had revenue of $16.18 billion during the quarter, compared to analysts’ expectations of $15.74 billion. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. During the same period last year, the company posted $2.05 earnings per share. Equities research analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

Institutional Investors Weigh In On ConocoPhillips

A number of large investors have recently modified their holdings of the stock. Albion Financial Group UT raised its stake in shares of ConocoPhillips by 876.9% during the fourth 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 period. Murphy & Mullick Capital Management Corp purchased a new position in shares of ConocoPhillips in the fourth quarter valued at $26,000. Centricity Wealth Management LLC acquired a new stake in ConocoPhillips during the 4th quarter valued at $27,000. 10Elms LLP purchased a new stake in ConocoPhillips during the 4th quarter worth $28,000. Finally, Financial Network Wealth Advisors LLC lifted its holdings in 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 buying an additional 222 shares in the last quarter. Institutional investors and hedge funds 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.