Piper Sandler Issues Pessimistic Forecast for ConocoPhillips (NYSE:COP) Stock Price

ConocoPhillips (NYSE:COP) had its price objective decreased by investment analysts at Piper Sandler from $135.00 to $114.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the energy producer’s stock. Piper Sandler’s price objective points to a potential upside of 19.85% from the company’s previous close.

Other analysts also recently issued reports about the stock. Morgan Stanley began coverage on shares of ConocoPhillips in a report on Monday, December 16th. They issued an “overweight” rating and a $128.00 price target on the stock. Mizuho raised ConocoPhillips from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $132.00 to $134.00 in a report on Monday, December 16th. Evercore ISI reissued an “outperform” rating and set a $165.00 price target on shares of ConocoPhillips in a research note on Friday, December 6th. Wells Fargo & Company raised their price target on ConocoPhillips from $131.00 to $134.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Finally, Susquehanna upped their price objective on ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $136.71.

ConocoPhillips Price Performance

Shares of ConocoPhillips stock opened at $95.12 on Thursday. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 52 week low of $94.23 and a 52 week high of $135.18. The stock’s 50-day simple moving average is $106.27 and its 200-day simple moving average is $109.09. The company has a market capitalization of $109.47 billion, a price-to-earnings ratio of 11.31, a PEG ratio of 0.83 and a beta of 1.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The business had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. During the same period in the prior year, the company posted $2.16 EPS. The firm’s revenue for the quarter was down 8.5% compared to the same quarter last year. As a group, analysts expect that ConocoPhillips will post 7.77 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director R A. Walker bought 10,400 shares of the stock in a transaction on Tuesday, December 17th. The stock was acquired at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the acquisition, the director now owns 38,000 shares of the company’s stock, valued at $3,716,400. This represents a 37.68 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Arjun N. Murti purchased 2,500 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were purchased at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the purchase, the director now owns 21,500 shares of the company’s stock, valued at approximately $2,061,205. This trade represents a 13.16 % increase in their position. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Values First Advisors Inc. bought a new stake in ConocoPhillips during the 3rd quarter valued at $26,000. Stephens Consulting LLC raised its position in shares of 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 acquiring an additional 104 shares in the last quarter. Reston Wealth Management LLC purchased a new stake in shares of ConocoPhillips during the 3rd quarter worth $31,000. Truvestments Capital LLC bought a new stake in ConocoPhillips during the third quarter valued at about $31,000. Finally, Y.D. More Investments Ltd purchased a new position in ConocoPhillips in the second quarter valued at about $35,000. 82.36% of the stock is currently owned by institutional investors.

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.