ConocoPhillips (NYSE:COP) Price Target Cut to $111.00 by Analysts at Evercore ISI

ConocoPhillips (NYSE:COP) had its price objective dropped by Evercore ISI from $115.00 to $111.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the energy producer’s stock. Evercore ISI’s price objective would indicate a potential upside of 17.87% from the company’s current price.

A number of other research firms also recently commented on COP. Capital One Financial increased their target price on ConocoPhillips from $111.00 to $112.00 in a research report on Friday. Weiss Ratings restated a “hold (c-)” rating on shares of ConocoPhillips in a research report on Saturday, September 27th. BMO Capital Markets boosted their target price on ConocoPhillips from $113.00 to $115.00 and gave the company an “outperform” rating in a research report on Monday, September 22nd. Wall Street Zen upgraded ConocoPhillips from a “sell” rating to a “hold” rating in a research report on Saturday, September 20th. Finally, Scotiabank boosted their price objective on shares of ConocoPhillips from $95.00 to $100.00 and gave the company a “sector perform” rating in a research report on Friday, July 11th. Sixteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $117.32.

ConocoPhillips Stock Up 0.8%

COP opened at $94.17 on Monday. The company has a market capitalization of $117.61 billion, a PE ratio of 12.64, a price-to-earnings-growth ratio of 2.49 and a beta of 0.62. The firm has a 50-day simple moving average of $94.92 and a two-hundred day simple moving average of $92.79. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $116.08.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.06. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The firm had revenue of $14.94 billion for the quarter, compared to analysts’ expectations of $14.39 billion. During the same period in the previous year, the firm posted $1.98 earnings per share. The business’s revenue was up 4.3% compared to the same quarter last year. Analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ConocoPhillips

Institutional investors and hedge funds have recently bought and sold shares of the company. Howard Hughes Medical Institute purchased a new position in shares of ConocoPhillips during the second quarter valued at $25,000. Financial Network Wealth Advisors LLC grew its holdings in ConocoPhillips by 341.5% during 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 in the last quarter. Stone House Investment Management LLC purchased a new position in ConocoPhillips during the 1st quarter valued at about $31,000. Bogart Wealth LLC raised its holdings in shares of ConocoPhillips by 136.8% in the 2nd quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock valued at $28,000 after purchasing an additional 182 shares in the last quarter. Finally, Activest Wealth Management boosted its stake in shares of ConocoPhillips by 249.5% during the second quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock valued at $29,000 after purchasing an additional 232 shares in the last quarter. 82.36% of the stock is owned by institutional investors.

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.