Citigroup Lowers ConocoPhillips (NYSE:COP) Price Target to $115.00

ConocoPhillips (NYSE:COP) had its price objective decreased by investment analysts at Citigroup from $140.00 to $115.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the energy producer’s stock. Citigroup’s price target would indicate a potential upside of 21.44% from the company’s previous close.

Several other research firms have also recently weighed in on COP. JPMorgan Chase & Co. decreased their price target on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Bank of America dropped their price target on shares of ConocoPhillips from $107.00 to $106.00 and set a “neutral” rating for the company in a research report on Friday, May 23rd. Susquehanna cut their price objective on shares of ConocoPhillips from $120.00 to $114.00 and set a “positive” rating for the company in a report on Monday, May 12th. Piper Sandler decreased their price objective on ConocoPhillips from $114.00 to $107.00 and set an “overweight” rating on the stock in a report on Tuesday, May 13th. Finally, Barclays dropped their target price on ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $121.30.

ConocoPhillips Trading Up 1.4%

Shares of COP opened at $94.70 on Wednesday. The firm’s 50-day moving average price is $88.62 and its 200-day moving average price is $96.02. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $119.72 billion, a price-to-earnings ratio of 12.16, a PEG ratio of 0.79 and a beta of 0.61. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $118.40.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.04. The company had revenue of $16.18 billion during the quarter, compared to analyst estimates of $15.74 billion. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. During the same period last year, the business earned $2.05 EPS. Sell-side analysts anticipate that ConocoPhillips will post 8.16 EPS for the current year.

Institutional Investors Weigh In On ConocoPhillips

Hedge funds and other institutional investors have recently made changes to their positions in the company. Murphy & Mullick Capital Management Corp purchased a new position in ConocoPhillips during the fourth quarter worth approximately $26,000. Centricity Wealth Management LLC purchased a new stake in ConocoPhillips during the 4th quarter worth approximately $27,000. 10Elms LLP purchased a new stake in shares of ConocoPhillips during the fourth quarter worth approximately $28,000. Financial Network Wealth Advisors LLC lifted its holdings in ConocoPhillips by 341.5% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock valued at $30,000 after purchasing an additional 222 shares in the last quarter. Finally, Stone House Investment Management LLC acquired a new position in ConocoPhillips during the first quarter worth about $31,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

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.