ConocoPhillips (NYSE:COP) Price Target Raised to $78.00

ConocoPhillips (NYSE:COP) had its price objective boosted by investment analysts at KeyCorp from $76.00 to $78.00 in a note issued to investors on Thursday, Stock Target Advisor reports. The brokerage presently has an “overweight” rating on the energy producer’s stock. KeyCorp’s target price indicates a potential upside of 6.51% from the stock’s current price.

A number of other equities analysts have also weighed in on the stock. Piper Sandler boosted their price target on shares of ConocoPhillips from $69.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, July 23rd. They noted that the move was a valuation call. Royal Bank of Canada boosted their price target on shares of ConocoPhillips from $73.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, July 1st. Sanford C. Bernstein upped their target price on shares of ConocoPhillips from $63.00 to $80.00 and gave the stock an “outperform” rating in a research note on Monday, June 21st. Truist upped their target price on shares of ConocoPhillips from $84.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, October 7th. Finally, TheStreet raised shares of ConocoPhillips from a “c” rating to a “b” rating in a research note on Tuesday, August 3rd. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $76.32.

COP opened at $73.23 on Thursday. ConocoPhillips has a fifty-two week low of $27.53 and a fifty-two week high of $75.52. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.97 and a current ratio of 2.11. The company has a fifty day moving average of $60.41 and a two-hundred day moving average of $57.66. The stock has a market capitalization of $98.06 billion, a price-to-earnings ratio of 63.13, a PEG ratio of 1.56 and a beta of 1.77.

ConocoPhillips (NYSE:COP) last announced its earnings results on Tuesday, August 3rd. The energy producer reported $1.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.17. ConocoPhillips had a net margin of 5.93% and a return on equity of 5.64%. The business had revenue of $10.21 billion for the quarter, compared to analyst estimates of $10.44 billion. During the same quarter last year, the business earned ($0.92) earnings per share. On average, equities research analysts forecast that ConocoPhillips will post 4.79 earnings per share for the current year.

In related news, Director R A. Walker purchased 18,000 shares of the business’s stock in a transaction dated Monday, August 9th. The stock was acquired at an average price of $55.50 per share, for a total transaction of $999,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.08% of the company’s stock.

Large investors have recently bought and sold shares of the business. Principal Financial Group Inc. boosted its stake in shares of ConocoPhillips by 12.5% during the 1st quarter. Principal Financial Group Inc. now owns 1,853,989 shares of the energy producer’s stock worth $98,206,000 after purchasing an additional 205,533 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of ConocoPhillips by 561.8% during the 1st quarter. Acadian Asset Management LLC now owns 29,299 shares of the energy producer’s stock worth $1,552,000 after purchasing an additional 24,872 shares during the last quarter. E Fund Management Co. Ltd. acquired a new stake in shares of ConocoPhillips during the 1st quarter worth about $126,000. Quilter Plc boosted its stake in shares of ConocoPhillips by 104.6% during the 1st quarter. Quilter Plc now owns 141,851 shares of the energy producer’s stock worth $7,513,000 after purchasing an additional 72,510 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its stake in shares of ConocoPhillips by 28.7% during the 1st quarter. Quadrant Capital Group LLC now owns 3,342 shares of the energy producer’s stock worth $177,000 after purchasing an additional 745 shares during the last quarter. Hedge funds and other institutional investors own 78.47% of the company’s stock.

About ConocoPhillips

ConocoPhillips engages in the exploration, production, transportation and marketing of crude oil, bitumen, natural gas, natural gas liquids, and liquefied natural gas on a worldwide basis. It operates through the following geographical segments: Alaska; Lower 48; Canada; Europe, Middle East and North Africa; Asia Pacific; and Other International.

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