ConocoPhillips (NYSE:COP) Given New $98.00 Price Target at JPMorgan Chase & Co.

ConocoPhillips (NYSE:COP) had its price objective cut by investment analysts at JPMorgan Chase & Co. from $102.00 to $98.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the energy producer’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 0.81% from the stock’s previous close.

Several other analysts also recently commented on COP. Wolfe Research reduced their target price on shares of ConocoPhillips from $131.00 to $126.00 and set an “outperform” rating for the company in a report on Monday, January 5th. Johnson Rice lowered shares of ConocoPhillips from an “accumulate” rating to a “hold” rating and decreased their price target for the company from $108.00 to $105.00 in a report on Friday, December 5th. Roth Capital decreased their price objective on ConocoPhillips from $108.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, October 15th. The Goldman Sachs Group decreased their target price on ConocoPhillips from $111.00 to $108.00 and set a “buy” rating for the company in a research note on Friday, October 17th. Finally, Capital One Financial increased their price target on ConocoPhillips from $111.00 to $112.00 in a report on Friday, October 3rd. Eighteen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $111.76.

ConocoPhillips Price Performance

Shares of NYSE:COP traded up $1.72 on Tuesday, hitting $97.22. The stock had a trading volume of 1,244,714 shares, compared to its average volume of 8,679,849. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.18 and a current ratio of 1.32. The company has a market capitalization of $120.13 billion, a price-to-earnings ratio of 13.74, a price-to-earnings-growth ratio of 2.64 and a beta of 0.32. The firm’s 50 day moving average price is $91.74 and its 200-day moving average price is $92.71. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $106.20.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, November 6th. The energy producer reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.20. The company had revenue of $15.03 billion for the quarter, compared to analyst estimates of $14.51 billion. ConocoPhillips had a net margin of 14.25% and a return on equity of 13.64%. The company’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.78 EPS. On average, equities research analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

Insider Transactions at ConocoPhillips

In related news, Director William H. Mcraven purchased 5,768 shares of the company’s stock in a transaction dated Monday, November 10th. The shares were purchased at an average cost of $86.68 per share, with a total value of $499,970.24. Following the transaction, the director directly owned 5,768 shares in the company, valued at $499,970.24. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ryan Michael Lance sold 500,708 shares of the firm’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $92.50, for a total value of $46,315,490.00. Following the transaction, the chief executive officer owned 325,972 shares of the company’s stock, valued at $30,152,410. The trade was a 60.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.24% of the stock is currently owned by insiders.

Institutional Trading of ConocoPhillips

A number of large investors have recently made changes to their positions in COP. Capital International Investors increased its holdings in ConocoPhillips by 18.2% during the third quarter. Capital International Investors now owns 45,645,397 shares of the energy producer’s stock valued at $4,318,239,000 after buying an additional 7,037,873 shares during the last quarter. Primecap Management Co. CA boosted its holdings in shares of ConocoPhillips by 66.0% during the 2nd quarter. Primecap Management Co. CA now owns 7,883,455 shares of the energy producer’s stock valued at $707,461,000 after purchasing an additional 3,135,315 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of ConocoPhillips by 31.4% in the second quarter. Ameriprise Financial Inc. now owns 10,778,664 shares of the energy producer’s stock valued at $966,267,000 after purchasing an additional 2,575,803 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in ConocoPhillips by 145.8% during the second quarter. Assenagon Asset Management S.A. now owns 2,933,286 shares of the energy producer’s stock worth $263,233,000 after acquiring an additional 1,740,009 shares during the last quarter. Finally, Valeo Financial Advisors LLC lifted its holdings in shares of ConocoPhillips by 6,156.1% in the 2nd quarter. Valeo Financial Advisors LLC now owns 1,508,169 shares of the energy producer’s stock worth $135,343,000 after acquiring an additional 1,484,062 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors.

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.