ConocoPhillips (NYSE:COP) Given New $161.00 Price Target at Jefferies Financial Group

ConocoPhillips (NYSE:COP) had its target price increased by analysts at Jefferies Financial Group from $160.00 to $161.00 in a research report issued to clients and investors on Monday,MarketScreener reports. The brokerage presently has a “buy” rating on the energy producer’s stock. Jefferies Financial Group’s price objective indicates a potential upside of 32.80% from the stock’s previous close.

Several other brokerages have also issued reports on COP. Citigroup upped their price target on ConocoPhillips from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, April 2nd. BMO Capital Markets cut their target price on shares of ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Raymond James Financial raised their target price on shares of ConocoPhillips from $118.00 to $145.00 and gave the company an “outperform” rating in a research note on Monday, April 27th. Morgan Stanley lifted their price target on shares of ConocoPhillips from $108.00 to $149.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 28th. Finally, The Goldman Sachs Group increased their price objective on shares of ConocoPhillips from $115.00 to $120.00 and gave the company a “buy” rating in a report on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, ConocoPhillips currently has a consensus rating of “Moderate Buy” and an average target price of $133.12.

ConocoPhillips Price Performance

Shares of COP stock opened at $121.24 on Monday. The stock’s fifty day simple moving average is $123.07 and its 200 day simple moving average is $106.37. ConocoPhillips has a one year low of $84.28 and a one year high of $135.87. The firm has a market cap of $147.70 billion, a price-to-earnings ratio of 20.56, a P/E/G ratio of 1.41 and a beta of 0.14. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.29 and a quick ratio of 1.14.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, topping 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 firm had revenue of $15.76 billion for the quarter, compared to analysts’ expectations of $15.62 billion. During the same period in the prior year, the firm earned $2.09 earnings per share. The company’s quarterly revenue was down 6.1% compared to the same quarter last year. On average, analysts expect that ConocoPhillips will post 9.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Heather G. Hrap sold 2,654 shares of the firm’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $119.68, for a total transaction of $317,630.72. Following the sale, the senior vice president owned 5,663 shares of the company’s stock, valued at approximately $677,747.84. This trade represents a 31.91% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Kelly Brunetti Rose sold 7,700 shares of ConocoPhillips stock in a transaction dated Tuesday, March 24th. The stock was sold at an average price of $130.03, for a total value of $1,001,231.00. Following the transaction, the senior vice president owned 25,284 shares in the company, valued at approximately $3,287,678.52. This represents a 23.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 734,891 shares of company stock worth $93,345,692 over the last 90 days. 0.09% of the stock is currently owned by corporate insiders.

Institutional Trading of ConocoPhillips

Several hedge funds have recently bought and sold shares of COP. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in shares of ConocoPhillips in the fourth quarter valued at approximately $25,000. Cloud Capital Management LLC acquired a new stake in shares of ConocoPhillips during the third quarter worth $26,000. KERR FINANCIAL PLANNING Corp bought a new stake in ConocoPhillips in the 3rd quarter valued at $28,000. Board of the Pension Protection Fund acquired a new position in ConocoPhillips in the 4th quarter worth $28,000. Finally, Strive Asset Management LLC acquired a new position in ConocoPhillips in the 3rd quarter worth $28,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

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.