ConocoPhillips (NYSE:COP) Price Target Lowered to $147.00 at Truist Financial

ConocoPhillips (NYSE:COP) had its target price lowered by research analysts at Truist Financial from $165.00 to $147.00 in a report released on Monday, Benzinga reports. The firm presently has a “buy” rating on the energy producer’s stock. Truist Financial’s target price suggests a potential upside of 32.64% from the stock’s previous close.

Several other research firms also recently weighed in on COP. Morgan Stanley upped their price objective on shares of ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Sanford C. Bernstein lowered their price objective on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Bank of America restated a “buy” rating and set a $147.00 price objective on shares of ConocoPhillips in a report on Friday, June 14th. Piper Sandler upped their price objective on shares of ConocoPhillips from $145.00 to $157.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. Finally, Wells Fargo & Company upped their price objective on shares of ConocoPhillips from $149.00 to $151.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $143.24.

ConocoPhillips Trading Down 1.3 %

COP opened at $110.83 on Monday. The company’s 50 day moving average price is $114.34 and its two-hundred day moving average price is $117.25. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.35 and a quick ratio of 1.21. ConocoPhillips has a fifty-two week low of $105.77 and a fifty-two week high of $135.18. The firm has a market capitalization of $129.62 billion, a price-to-earnings ratio of 12.55, a PEG ratio of 2.02 and a beta of 1.23.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, May 2nd. The energy producer reported $2.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.04. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. The company had revenue of $14.48 billion for the quarter, compared to the consensus estimate of $14.72 billion. As a group, research analysts predict that ConocoPhillips will post 8.81 earnings per share for the current year.

Institutional Trading of ConocoPhillips

A number of large investors have recently added to or reduced their stakes in COP. West Branch Capital LLC increased its holdings in ConocoPhillips by 87.8% during the fourth quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock worth $27,000 after buying an additional 108 shares during the last quarter. Sachetta LLC purchased a new stake in ConocoPhillips during the fourth quarter worth about $27,000. Cooksen Wealth LLC purchased a new stake in ConocoPhillips during the fourth quarter worth about $27,000. Cape Investment Advisory Inc. increased its holdings in ConocoPhillips by 96.0% during the fourth quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock worth $29,000 after buying an additional 121 shares during the last quarter. Finally, Richardson Capital Management LLC purchased a new stake in ConocoPhillips during the first quarter worth about $31,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

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.