ConocoPhillips (NYSE:COP) Stock Gets Price Target Boost from Truist Financial

ConocoPhillips (NYSE:COP) had its price objective hoisted by equities researchers at Truist Financial from $136.00 to $142.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a “hold” rating on the energy producer’s stock. Truist Financial‘s price target suggests a potential upside of 4.12% from the company’s previous close.

Other research analysts have also recently issued reports about the company. Piper Sandler began coverage on ConocoPhillips in a research report on Tuesday, October 27th. They set a “neutral” rating and a $157.00 price target for the company. Morgan Stanley upped their price objective on ConocoPhillips from $151.00 to $159.00 and gave the stock an “overweight” rating in a research report on Thursday, October 15th. Susquehanna raised their price objective on shares of ConocoPhillips from $161.00 to $175.00 and gave the stock a “positive” rating in a research note on Tuesday, October 20th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $157.00 target price on shares of ConocoPhillips in a report on Tuesday, October 20th. Finally, Wells Fargo & Company decreased their target price on shares of ConocoPhillips from $189.00 to $185.00 and set an “overweight” rating for the company in a research note on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $145.29.

ConocoPhillips Price Performance

NYSE:COP opened at $136.38 on Monday. ConocoPhillips has a one year low of $85.59 and a one year high of $154.28. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.37 and a current ratio of 1.52. The firm has a market cap of $163.83 billion, a price-to-earnings ratio of 14.33, a PEG ratio of 1.28 and a beta of 0.16. The firm’s fifty day moving average is $136.92 and its two-hundred day moving average is $122.10.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, November 5th. The energy producer reported $3.27 earnings per share for the quarter, beating analysts’ consensus estimates of $3.05 by $0.22. The business had revenue of $19.43 billion during the quarter, compared to analyst estimates of $18.59 billion. ConocoPhillips had a return on equity of 17.60% and a net margin of 16.55%. The company’s revenue was up 29.2% on a year-over-year basis. During the same quarter last year, the business posted $1.61 EPS. Research analysts expect that ConocoPhillips will post 11.84 EPS for the current year.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, SVP Andrew Lundquist sold 9,487 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $135.15, for a total transaction of $1,282,168.05. Following the transaction, the senior vice president owned 9,593 shares in the company, valued at approximately $1,296,493.95. This represents a 49.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.09% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. State Street Corp grew its position in shares of ConocoPhillips by 73.2% in the second quarter. State Street Corp now owns 118,591,447 shares of the energy producer’s stock valued at $12,328,767,000 after purchasing an additional 50,116,727 shares during the period. Bank of America Corp DE acquired a new position in shares of ConocoPhillips during the 2nd quarter worth about $1,260,482,000. Primecap Management Co. CA acquired a new position in shares of ConocoPhillips during the 2nd quarter worth about $1,204,726,000. Assenagon Asset Management S.A. lifted its stake in ConocoPhillips by 1,181.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 8,172,490 shares of the energy producer’s stock valued at $1,022,787,000 after buying an additional 7,534,536 shares in the last quarter. Finally, Legal & General Group Plc purchased a new position in ConocoPhillips in the 2nd quarter valued at about $716,151,000. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Company Profile

ConocoPhillips is an independent exploration and production company focused on finding, developing and producing oil and natural gas. Its products include crude oil, natural gas, liquefied natural gas and natural gas liquids.

The company operates in several regions, including North America, Europe, the Middle East, North Africa and the Asia-Pacific. Its activities span exploration, development and production, with a portfolio that includes both conventional and unconventional resources.

ConocoPhillips was formed in 2002 through the merger of Conoco and Phillips Petroleum.