Truist Financial Raises ConocoPhillips (NYSE:COP) Price Target to $160.00

ConocoPhillips (NYSE:COP) had its price target hoisted by equities researchers at Truist Financial from $151.00 to $160.00 in a research note issued on Monday, FlyOnTheWall reports. Truist Financial’s price objective points to a potential upside of 28.70% from the company’s previous close.

A number of other research analysts have also commented on COP. Jefferies Financial Group reduced their price target on shares of ConocoPhillips from $143.00 to $141.00 and set a “buy” rating for the company in a research report on Monday, August 28th. StockNews.com began coverage on shares of ConocoPhillips in a research report on Thursday, August 17th. They set a “hold” rating for the company. Piper Sandler reduced their price target on shares of ConocoPhillips from $149.00 to $125.00 in a research report on Tuesday, June 13th. Citigroup reduced their price target on shares of ConocoPhillips from $145.00 to $140.00 in a research report on Wednesday, July 12th. Finally, UBS Group boosted their price target on shares of ConocoPhillips from $127.00 to $147.00 and gave the company a “buy” rating in a research report on Thursday, August 17th. Five research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and a consensus price target of $135.11.

ConocoPhillips Trading Up 0.6 %

Shares of COP stock opened at $124.32 on Monday. The company has a 50 day moving average of $116.22 and a 200-day moving average of $107.25. The company has a quick ratio of 1.28, a current ratio of 1.41 and a debt-to-equity ratio of 0.33. ConocoPhillips has a 12-month low of $91.53 and a 12-month high of $138.49. The firm has a market cap of $148.87 billion, a P/E ratio of 12.00, a PEG ratio of 0.78 and a beta of 1.30.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, August 3rd. The energy producer reported $1.84 EPS for the quarter, missing the consensus estimate of $1.94 by ($0.10). The business had revenue of $12.88 billion during the quarter, compared to the consensus estimate of $14.64 billion. ConocoPhillips had a return on equity of 27.27% and a net margin of 18.66%. During the same period last year, the business posted $3.91 earnings per share. Sell-side analysts anticipate that ConocoPhillips will post 8.74 earnings per share for the current year.

Insider Buying and Selling

In other ConocoPhillips news, CEO Ryan Michael Lance sold 569,400 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $122.14, for a total value of $69,546,516.00. Following the sale, the chief executive officer now owns 18,187 shares in the company, valued at $2,221,360.18. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.37% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Farther Finance Advisors LLC raised its stake in shares of ConocoPhillips by 21.3% in the second quarter. Farther Finance Advisors LLC now owns 2,259 shares of the energy producer’s stock worth $234,000 after purchasing an additional 396 shares during the last quarter. DCM Advisors LLC grew its holdings in shares of ConocoPhillips by 11.7% in the second quarter. DCM Advisors LLC now owns 24,930 shares of the energy producer’s stock worth $2,583,000 after acquiring an additional 2,608 shares during the period. ST Germain D J Co. Inc. bought a new stake in shares of ConocoPhillips in the second quarter worth $447,000. Portside Wealth Group LLC bought a new stake in shares of ConocoPhillips in the second quarter worth $1,083,000. Finally, Lavaca Capital LLC bought a new stake in shares of ConocoPhillips in the second quarter worth $265,000. Hedge funds and other institutional investors own 80.36% 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 and internationally. 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 global exploration prospects.