Truist Financial Lowers ConocoPhillips (NYSE:COP) Price Target to $115.00

ConocoPhillips (NYSE:COP) had its price objective lowered by equities researchers at Truist Financial from $128.00 to $115.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “hold” rating on the energy producer’s stock. Truist Financial’s target price would indicate a potential upside of 4.04% from the company’s previous close.

COP has been the subject of a number of other reports. The Goldman Sachs Group lowered their target price on ConocoPhillips from $144.00 to $138.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. BMO Capital Markets dropped their target price on ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Freedom Capital cut shares of ConocoPhillips from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 6th. Wolfe Research increased their price target on shares of ConocoPhillips from $138.00 to $144.00 and gave the company an “outperform” rating in a research note on Monday, April 6th. Finally, Jefferies Financial Group raised their target price on shares of ConocoPhillips from $160.00 to $161.00 and gave the stock a “buy” rating in a research note on Monday, May 18th. Eighteen equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $134.08.

ConocoPhillips Trading Up 1.9%

Shares of COP stock traded up $2.09 on Wednesday, hitting $110.53. The stock had a trading volume of 1,299,079 shares, compared to its average volume of 8,859,349. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34. ConocoPhillips has a twelve month low of $85.57 and a twelve month high of $135.87. The company has a fifty day moving average price of $115.08 and a two-hundred day moving average price of $112.44. The firm has a market cap of $134.66 billion, a P/E ratio of 18.81, a PEG ratio of 1.19 and a beta of 0.12.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.17. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The firm had revenue of $15.76 billion for the quarter, compared to analyst estimates of $15.62 billion. During the same period in the previous year, the company posted $2.09 earnings per share. The company’s revenue for the quarter was down 6.1% on a year-over-year basis. As a group, analysts forecast that ConocoPhillips will post 9.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in COP. Vanguard Group Inc. lifted its holdings in shares of ConocoPhillips by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 120,251,183 shares of the energy producer’s stock worth $11,256,713,000 after purchasing an additional 408,304 shares during the period. Capital International Investors grew its stake in ConocoPhillips by 5.9% during the fourth quarter. Capital International Investors now owns 48,360,060 shares of the energy producer’s stock worth $4,527,230,000 after purchasing an additional 2,714,663 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in ConocoPhillips by 6.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 41,450,162 shares of the energy producer’s stock worth $3,880,151,000 after purchasing an additional 2,350,645 shares in the last quarter. Franklin Resources Inc. increased its holdings in ConocoPhillips by 4.5% in the fourth quarter. Franklin Resources Inc. now owns 15,038,675 shares of the energy producer’s stock worth $1,407,770,000 after purchasing an additional 648,432 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its stake in ConocoPhillips by 1.3% in the fourth quarter. Fisher Asset Management LLC now owns 14,847,367 shares of the energy producer’s stock valued at $1,389,862,000 after buying an additional 193,401 shares during the period. Institutional investors own 82.36% of the company’s stock.

About ConocoPhillips

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.