ConocoPhillips (NYSE:COP) Price Target Lowered to $135.00 at BMO Capital Markets

ConocoPhillips (NYSE:COP) had its target price lowered by research analysts at BMO Capital Markets from $140.00 to $135.00 in a research report issued on Wednesday,MarketScreener reports. The firm presently has an “outperform” rating on the energy producer’s stock. BMO Capital Markets’ target price indicates a potential upside of 16.06% from the company’s previous close.

Several other analysts have also recently commented on COP. Susquehanna upped their target price on shares of ConocoPhillips from $149.00 to $152.00 in a research report on Friday, May 1st. Argus lifted their price objective on ConocoPhillips from $111.00 to $128.00 and gave the stock a “strong-buy” rating in a research note on Friday, February 13th. Wall Street Zen upgraded ConocoPhillips from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Scotiabank increased their target price on ConocoPhillips from $100.00 to $125.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 22nd. Finally, The Goldman Sachs Group boosted their target price on ConocoPhillips from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, February 6th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $132.84.

ConocoPhillips Stock Down 1.3%

Shares of NYSE:COP opened at $116.32 on Wednesday. ConocoPhillips has a one year low of $84.28 and a one year high of $135.87. The company has a 50 day moving average of $122.95 and a 200-day moving average of $105.73. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.29 and a quick ratio of 1.14. The stock has a market cap of $141.71 billion, a price-to-earnings ratio of 19.79, a P/E/G ratio of 1.62 and a beta of 0.14.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.17. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The business had revenue of $15.76 billion for the quarter, compared to analyst estimates of $15.62 billion. During the same period in the prior year, the business posted $2.09 earnings per share. ConocoPhillips’s revenue was down 6.1% compared to the same quarter last year. On average, sell-side analysts forecast that ConocoPhillips will post 9.5 earnings per share for the current year.

Insider Activity at ConocoPhillips

In other ConocoPhillips news, SVP Kelly Brunetti Rose sold 8,500 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $118.04, for a total transaction of $1,003,340.00. Following the completion of the transaction, the senior vice president owned 32,984 shares of the company’s stock, valued at $3,893,431.36. This represents a 20.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Timothy A. Leach sold 40,000 shares of the firm’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $118.79, for a total transaction of $4,751,600.00. Following the transaction, the director directly owned 411,211 shares of the company’s stock, valued at $48,847,754.69. This represents a 8.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 734,891 shares of company stock valued at $93,345,692 over the last ninety days. Company insiders own 0.09% of the company’s stock.

Institutional Trading of ConocoPhillips

A number of institutional investors have recently made changes to their positions in COP. AXA S.A. lifted its position in ConocoPhillips by 91.1% during the 2nd quarter. AXA S.A. now owns 84,937 shares of the energy producer’s stock worth $7,622,000 after buying an additional 40,499 shares in the last quarter. Sei Investments Co. lifted its stake in ConocoPhillips by 6.1% in the 2nd quarter. Sei Investments Co. now owns 784,368 shares of the energy producer’s stock valued at $70,397,000 after purchasing an additional 44,852 shares during the last quarter. BNP Paribas bought a new position in ConocoPhillips during the second quarter worth about $33,000. Osterweis Capital Management Inc. bought a new position in ConocoPhillips during the second quarter worth about $151,000. Finally, Main Street Financial Solutions LLC increased its position in ConocoPhillips by 53.5% during the second quarter. Main Street Financial Solutions LLC now owns 4,806 shares of the energy producer’s stock worth $431,000 after buying an additional 1,675 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

About ConocoPhillips

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.