ConocoPhillips (NYSE:COP) Stock Price Expected to Rise, Morgan Stanley Analyst Says

ConocoPhillips (NYSE:COP) had its price objective lifted by investment analysts at Morgan Stanley from $116.00 to $118.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the energy producer’s stock. Morgan Stanley’s price target indicates a potential upside of 33.21% from the stock’s previous close.

COP has been the subject of several other reports. Raymond James lowered ConocoPhillips from a “strong-buy” rating to an “outperform” rating and decreased their price objective for the company from $157.00 to $124.00 in a research report on Monday, February 10th. TD Cowen began coverage on shares of ConocoPhillips in a report on Friday, January 17th. They issued a “buy” rating and a $125.00 price target for the company. Bank of America lowered shares of ConocoPhillips from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $138.00 to $107.00 in a report on Tuesday, April 29th. Scotiabank reduced their target price on shares of ConocoPhillips from $115.00 to $95.00 and set a “sector perform” rating for the company in a research note on Friday, April 11th. Finally, Royal Bank of Canada dropped their price target on ConocoPhillips from $133.00 to $120.00 and set an “outperform” rating on the stock in a research note on Monday, April 14th. Three research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $124.89.

ConocoPhillips Stock Down 0.3 %

Shares of NYSE COP opened at $88.58 on Friday. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $122.56. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29. The stock has a market cap of $111.98 billion, a P/E ratio of 11.37, a P/E/G ratio of 0.79 and a beta of 0.64. The firm has a 50 day moving average price of $93.08 and a 200 day moving average price of $99.40.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, beating analysts’ consensus estimates of $2.05 by $0.04. The business 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 quarter in the prior year, the company earned $2.05 EPS. Analysts expect that ConocoPhillips will post 8.16 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in COP. Albion Financial Group UT raised its position in shares of ConocoPhillips by 876.9% in 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 bought a new position in ConocoPhillips in the 4th quarter valued at about $26,000. Centricity Wealth Management LLC acquired a new stake in ConocoPhillips during the fourth quarter worth approximately $27,000. 10Elms LLP bought a new stake in shares of ConocoPhillips during the fourth quarter worth approximately $28,000. Finally, Crowley Wealth Management Inc. acquired a new position in shares of ConocoPhillips in the fourth quarter valued at approximately $32,000. 82.36% of the stock is owned by institutional investors and hedge funds.

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.