Mizuho Issues Positive Forecast for ConocoPhillips (NYSE:COP) Stock Price

ConocoPhillips (NYSE:COP) had its price objective boosted by analysts at Mizuho from $136.00 to $150.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the energy producer’s stock. Mizuho’s price target would indicate a potential upside of 28.55% from the stock’s previous close.

COP has been the topic of several other reports. The Goldman Sachs Group raised their target price on shares of ConocoPhillips from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, February 6th. Piper Sandler raised their target price on shares of ConocoPhillips from $154.00 to $157.00 and gave the stock an “overweight” rating in a report on Wednesday, April 8th. Raymond James Financial raised their target price on shares of ConocoPhillips from $118.00 to $145.00 and gave the stock an “outperform” rating in a report on Monday, April 27th. Scotiabank raised their target price on shares of ConocoPhillips from $100.00 to $125.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. Finally, Wall Street Zen raised shares of ConocoPhillips from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $134.60.

ConocoPhillips Trading Down 3.1%

Shares of COP stock opened at $116.69 on Wednesday. The firm has a 50 day moving average price of $123.57 and a two-hundred day moving average price of $108.02. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $142.16 billion, a PE ratio of 19.81, a price-to-earnings-growth ratio of 1.35 and a beta of 0.14. ConocoPhillips has a 12-month low of $84.28 and a 12-month high of $135.87.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.17. The firm had revenue of $15.76 billion during the quarter, compared to the consensus estimate of $15.62 billion. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The business’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same period last year, the business posted $2.09 earnings per share. As a group, analysts predict that ConocoPhillips will post 9.92 earnings per share for the current year.

Insiders Place Their Bets

In related news, SVP Kelly Brunetti Rose sold 8,500 shares of ConocoPhillips stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $118.04, for a total value of $1,003,340.00. Following the transaction, the senior vice president directly owned 32,984 shares of the company’s stock, valued at $3,893,431.36. This trade represents a 20.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Nicholas G. Olds sold 14,522 shares of ConocoPhillips stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $119.36, for a total transaction of $1,733,345.92. Following the completion of the transaction, the executive vice president directly owned 12,389 shares in the company, valued at $1,478,751.04. This trade represents a 53.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 734,891 shares of company stock valued at $93,345,692 over the last three months. 0.09% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Frazier Financial Advisors LLC grew its stake in shares of ConocoPhillips by 151.0% during the first quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock worth $32,000 after buying an additional 145 shares during the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in shares of ConocoPhillips during the fourth quarter worth $25,000. Evergreen Advisors LLC bought a new stake in shares of ConocoPhillips during the first quarter worth $36,000. Cloud Capital Management LLC bought a new stake in shares of ConocoPhillips during the third quarter worth $26,000. Finally, Strive Asset Management LLC bought a new stake in shares of ConocoPhillips during the third quarter worth $28,000. 82.36% of the stock is owned by institutional investors.

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.