UBS Group Increases ConocoPhillips (NYSE:COP) Price Target to $153.00

ConocoPhillips (NYSE:COP) had its price target upped by investment analysts at UBS Group from $151.00 to $153.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the energy producer’s stock. UBS Group’s target price suggests a potential upside of 39.59% from the stock’s current price.

Several other analysts have also recently commented on the company. Argus raised ConocoPhillips to a “strong-buy” rating in a report on Friday, June 7th. Wolfe Research started coverage on shares of ConocoPhillips in a research report on Thursday, July 18th. They set an “outperform” rating and a $145.00 target price on the stock. Susquehanna upped their price target on shares of ConocoPhillips from $133.00 to $154.00 and gave the stock a “positive” rating in a research note on Monday, April 22nd. Mizuho reduced their price objective on shares of ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating for the company in a research note on Wednesday, June 5th. Finally, StockNews.com lowered shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $143.65.

ConocoPhillips Price Performance

ConocoPhillips stock opened at $109.61 on Tuesday. The stock has a market capitalization of $127.28 billion, a PE ratio of 12.41, a price-to-earnings-growth ratio of 2.18 and a beta of 1.24. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.33 and a quick ratio of 1.19. ConocoPhillips has a 12 month low of $102.27 and a 12 month high of $135.18. The business has a 50 day simple moving average of $111.40 and a 200-day simple moving average of $116.98.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.96 by $0.02. The business had revenue of $14.14 billion for the quarter, compared to analyst estimates of $14.96 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The business’s revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.84 earnings per share. Equities analysts predict that ConocoPhillips will post 8.64 earnings per share for the current year.

Insider Transactions at ConocoPhillips

In related news, Director Timothy A. Leach sold 55,500 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the sale, the director now owns 455,909 shares of the company’s stock, valued at $49,288,321.99. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On ConocoPhillips

Several institutional investors and hedge funds have recently modified their holdings of the company. Sachetta LLC purchased a new position in shares of ConocoPhillips during the 4th quarter worth $27,000. Cooksen Wealth LLC purchased a new position in ConocoPhillips during the fourth quarter worth about $27,000. Cape Investment Advisory Inc. boosted its stake in ConocoPhillips by 96.0% in the 4th 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. Stephens Consulting LLC boosted its stake in ConocoPhillips by 69.3% in the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after buying an additional 104 shares during the last quarter. Finally, Richardson Capital Management LLC purchased a new stake in ConocoPhillips in the 1st quarter valued at about $31,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Company Profile

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.