ConocoPhillips (NYSE:COP) Rating Lowered to “Outperform” at Raymond James

ConocoPhillips (NYSE:COP) was downgraded by investment analysts at Raymond James from a “strong-buy” rating to an “outperform” rating in a research note issued to investors on Monday, MarketBeat.com reports. They presently have a $124.00 price objective on the energy producer’s stock, down from their prior price objective of $157.00. Raymond James’ price target indicates a potential upside of 21.90% from the stock’s current price.

Several other analysts also recently issued reports on COP. Morgan Stanley started coverage on shares of ConocoPhillips in a research report on Monday, December 16th. They issued an “overweight” rating and a $128.00 price target for the company. Mizuho raised shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $132.00 to $134.00 in a research report on Monday, December 16th. Truist Financial lifted their price target on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, January 13th. JPMorgan Chase & Co. raised ConocoPhillips from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $120.00 to $123.00 in a research note on Thursday, December 5th. Finally, Susquehanna lifted their target price on ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, ConocoPhillips presently has a consensus rating of “Moderate Buy” and an average price target of $133.72.

ConocoPhillips Price Performance

Shares of NYSE COP opened at $101.72 on Monday. The company has a current ratio of 1.29, a quick ratio of 1.16 and a debt-to-equity ratio of 0.36. The firm’s 50-day moving average price is $100.91 and its 200-day moving average price is $106.03. The firm has a market capitalization of $117.08 billion, a P/E ratio of 13.06, a P/E/G ratio of 0.77 and a beta of 1.18. ConocoPhillips has a 1-year low of $94.23 and a 1-year high of $135.18.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. Equities research analysts anticipate that ConocoPhillips will post 8.3 earnings per share for the current fiscal year.

Insider Buying and Selling at ConocoPhillips

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

Hedge Funds Weigh In On ConocoPhillips

A number of large investors have recently made changes to their positions in the stock. Albion Financial Group UT boosted its stake in ConocoPhillips by 876.9% in the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after purchasing an additional 228 shares during the period. Values First Advisors Inc. bought a new stake in ConocoPhillips during the third quarter valued at $26,000. Centricity Wealth Management LLC purchased a new stake in shares of ConocoPhillips in the 4th quarter valued at about $27,000. Reston Wealth Management LLC bought a new stake in shares of ConocoPhillips during the 3rd quarter valued at about $31,000. Finally, Truvestments Capital LLC purchased a new position in shares of ConocoPhillips during the third quarter worth about $31,000. 82.36% of the stock is owned by institutional investors.

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.