ConocoPhillips (NYSE:COP) Stock Price Expected to Rise, Raymond James Financial Analyst Says

ConocoPhillips (NYSE:COP) had its target price upped by investment analysts at Raymond James Financial from $98.00 to $113.00 in a research report issued on Thursday,MarketScreener reports. The firm presently has an “outperform” rating on the energy producer’s stock. Raymond James Financial’s price target would indicate a potential upside of 17.12% from the stock’s current price.

COP has been the subject of several other research reports. Johnson Rice cut ConocoPhillips from an “accumulate” rating to a “hold” rating and cut their target price for the stock from $108.00 to $105.00 in a research report on Friday, December 5th. Jefferies Financial Group reiterated a “buy” rating on shares of ConocoPhillips in a research report on Monday, December 15th. Wolfe Research dropped their target price on shares of ConocoPhillips from $126.00 to $122.00 and set an “outperform” rating for the company in a research report on Tuesday, January 13th. Wells Fargo & Company began coverage on ConocoPhillips in a report on Friday, October 17th. They set an “equal weight” rating and a $100.00 price target for the company. Finally, Bank of America reaffirmed an “underperform” rating and set a $102.00 price objective on shares of ConocoPhillips in a report on Friday, January 16th. Sixteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $111.00.

ConocoPhillips Stock Down 0.7%

NYSE COP opened at $96.48 on Thursday. The company has a market capitalization of $119.22 billion, a P/E ratio of 13.66, a price-to-earnings-growth ratio of 2.82 and a beta of 0.32. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $106.20. The stock’s 50-day moving average price is $93.11 and its 200-day moving average price is $92.97. The company has a quick ratio of 1.18, a current ratio of 1.32 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, November 6th. The energy producer reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.20. ConocoPhillips had a net margin of 14.25% and a return on equity of 13.64%. The company had revenue of $15.03 billion for the quarter, compared to analysts’ expectations of $14.51 billion. During the same quarter in the previous year, the company earned $1.78 EPS. ConocoPhillips’s revenue for the quarter was up 14.1% on a year-over-year basis. On average, equities research analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

Insider Transactions at ConocoPhillips

In related news, CEO Ryan Michael Lance sold 500,708 shares of the stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $92.50, for a total value of $46,315,490.00. Following the sale, the chief executive officer directly owned 325,972 shares of the company’s stock, valued at $30,152,410. This represents a 60.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William H. Mcraven purchased 5,768 shares of the firm’s stock in a transaction dated Monday, November 10th. The shares were bought at an average cost of $86.68 per share, with a total value of $499,970.24. Following the purchase, the director directly owned 5,768 shares of the company’s stock, valued at approximately $499,970.24. This represents a ? increase in their position. The disclosure for this purchase is available in the SEC filing. 0.24% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ConocoPhillips

Several institutional investors and hedge funds have recently bought and sold shares of COP. Howard Hughes Medical Institute purchased a new stake in ConocoPhillips during the 2nd quarter worth approximately $25,000. Cloud Capital Management LLC purchased a new stake in shares of ConocoPhillips during the third quarter worth approximately $26,000. Bogart Wealth LLC raised its stake in ConocoPhillips by 136.8% in the 2nd quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock valued at $28,000 after purchasing an additional 182 shares during the last quarter. KERR FINANCIAL PLANNING Corp acquired a new stake in ConocoPhillips during the 3rd quarter worth $28,000. Finally, Board of the Pension Protection Fund purchased a new stake in shares of ConocoPhillips during the fourth quarter worth $28,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Company Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.