Royal Bank of Canada Issues Pessimistic Forecast for ConocoPhillips (NYSE:COP) Stock Price

ConocoPhillips (NYSE:COP) had its target price decreased by research analysts at Royal Bank of Canada from $133.00 to $120.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the energy producer’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 38.41% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. UBS Group cut their price target on shares of ConocoPhillips from $130.00 to $116.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. Barclays reduced their price objective on ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Piper Sandler cut their target price on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. TD Cowen started coverage on shares of ConocoPhillips in a research note on Friday, January 17th. They set a “buy” rating and a $125.00 price target for the company. Finally, JPMorgan Chase & Co. decreased their price objective on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, ConocoPhillips has a consensus rating of “Moderate Buy” and an average target price of $129.74.

ConocoPhillips Stock Performance

ConocoPhillips stock traded up $0.31 during midday trading on Monday, hitting $86.70. The company’s stock had a trading volume of 1,118,221 shares, compared to its average volume of 7,043,638. The company has a market cap of $109.60 billion, a price-to-earnings ratio of 11.13, a PEG ratio of 0.79 and a beta of 0.83. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. The company has a 50-day moving average price of $96.51 and a two-hundred day moving average price of $102.04. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $132.61.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share 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%. As a group, sell-side analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

Institutional Trading of ConocoPhillips

Several large investors have recently bought and sold shares of COP. Sivia Capital Partners LLC raised its stake in shares of ConocoPhillips by 80.0% during the 1st quarter. Sivia Capital Partners LLC now owns 5,375 shares of the energy producer’s stock valued at $564,000 after buying an additional 2,389 shares during the last quarter. Piscataqua Savings Bank grew its holdings in ConocoPhillips by 3.5% during the first quarter. Piscataqua Savings Bank now owns 3,705 shares of the energy producer’s stock worth $389,000 after acquiring an additional 125 shares during the period. WealthBridge Investment Counsel Inc. raised its position in ConocoPhillips by 9.7% during the first quarter. WealthBridge Investment Counsel Inc. now owns 31,790 shares of the energy producer’s stock valued at $3,339,000 after acquiring an additional 2,800 shares in the last quarter. Persium Advisors LLC lifted its holdings in ConocoPhillips by 5.3% in the first quarter. Persium Advisors LLC now owns 10,812 shares of the energy producer’s stock valued at $1,135,000 after acquiring an additional 545 shares during the period. Finally, Impact Capital Partners LLC grew its stake in shares of ConocoPhillips by 79.1% during the 1st quarter. Impact Capital Partners LLC now owns 3,836 shares of the energy producer’s stock worth $403,000 after purchasing an additional 1,694 shares during the period. Hedge funds and other institutional investors 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.