ConocoPhillips (NYSE:COP) Given New $160.00 Price Target at Barclays

ConocoPhillips (NYSE:COPGet Rating) had its price objective hoisted by equities researchers at Barclays from $151.00 to $160.00 in a research report issued on Monday, The Fly reports. The firm presently has an “overweight” rating on the energy producer’s stock. Barclays‘s target price would indicate a potential upside of 33.19% from the company’s current price.

A number of other equities analysts have also recently weighed in on COP. Societe Generale cut ConocoPhillips from a “hold” rating to a “sell” rating and increased their price target for the stock from $106.00 to $114.00 in a report on Monday, November 21st. They noted that the move was a valuation call. Credit Suisse Group increased their target price on shares of ConocoPhillips from $134.00 to $145.00 and gave the stock an “outperform” rating in a research note on Friday, November 4th. StockNews.com initiated coverage on shares of ConocoPhillips in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Erste Group Bank raised shares of ConocoPhillips from a “hold” rating to a “buy” rating in a research report on Wednesday, October 5th. Finally, Truist Financial cut their target price on ConocoPhillips from $155.00 to $148.00 in a research report on Thursday, January 19th. One research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $136.29.

ConocoPhillips Price Performance

Shares of COP stock opened at $120.13 on Monday. The firm’s 50-day moving average is $119.21 and its two-hundred day moving average is $112.30. ConocoPhillips has a 12 month low of $78.30 and a 12 month high of $138.49. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.46 and a quick ratio of 1.37. The company has a market capitalization of $149.69 billion, a PE ratio of 8.65, a price-to-earnings-growth ratio of 0.54 and a beta of 1.29.

ConocoPhillips (NYSE:COPGet Rating) last released its quarterly earnings results on Thursday, November 3rd. The energy producer reported $3.60 EPS for the quarter, beating the consensus estimate of $3.41 by $0.19. The firm had revenue of $21.61 billion for the quarter, compared to analyst estimates of $17.05 billion. ConocoPhillips had a net margin of 22.90% and a return on equity of 35.02%. Analysts predict that ConocoPhillips will post 13.63 earnings per share for the current year.

Insider Activity at ConocoPhillips

In other ConocoPhillips news, EVP Nicholas G. Olds sold 10,950 shares of the firm’s stock in a transaction that occurred on Tuesday, November 8th. The shares were sold at an average price of $134.90, for a total transaction of $1,477,155.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, EVP Nicholas G. Olds sold 10,950 shares of ConocoPhillips stock in a transaction on Tuesday, November 8th. The shares were sold at an average price of $134.90, for a total transaction of $1,477,155.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Timothy A. Leach sold 4,860 shares of the business’s stock in a transaction on Thursday, December 15th. The shares were sold at an average price of $112.58, for a total transaction of $547,138.80. Following the completion of the sale, the director now directly owns 661,142 shares of the company’s stock, valued at $74,431,366.36. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ConocoPhillips

A number of institutional investors and hedge funds have recently added to or reduced their stakes in COP. Fairfield Bush & CO. acquired a new stake in ConocoPhillips during the 1st quarter worth $31,000. Cetera Investment Advisers grew its holdings in shares of ConocoPhillips by 4.0% during the first quarter. Cetera Investment Advisers now owns 25,399 shares of the energy producer’s stock worth $2,540,000 after buying an additional 968 shares during the last quarter. Baird Financial Group Inc. increased its position in ConocoPhillips by 1.9% in the 1st quarter. Baird Financial Group Inc. now owns 512,126 shares of the energy producer’s stock valued at $51,213,000 after acquiring an additional 9,313 shares during the period. Zions Bancorporation N.A. increased its position in ConocoPhillips by 59.1% in the 1st quarter. Zions Bancorporation N.A. now owns 1,810 shares of the energy producer’s stock valued at $181,000 after acquiring an additional 672 shares during the period. Finally, Brown Brothers Harriman & Co. raised its stake in ConocoPhillips by 21.3% during the 1st quarter. Brown Brothers Harriman & Co. now owns 14,063 shares of the energy producer’s stock valued at $1,406,000 after acquiring an additional 2,465 shares during the last quarter. Hedge funds and other institutional investors own 81.76% of the company’s stock.

About ConocoPhillips

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ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. It primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.

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