Morgan Stanley Lowers ConocoPhillips (NYSE:COP) Price Target to $146.00

ConocoPhillips (NYSE:COP) had its target price reduced by analysts at Morgan Stanley from $153.00 to $146.00 in a research report issued on Friday,MarketScreener reports. The firm presently has an “overweight” rating on the energy producer’s stock. Morgan Stanley’s target price suggests a potential upside of 38.22% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. UBS Group raised their price target on ConocoPhillips from $130.00 to $144.00 and gave the stock a “buy” rating in a research note on Thursday, March 5th. Barclays increased their price objective on ConocoPhillips from $136.00 to $155.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. BMO Capital Markets lowered their price objective on shares of ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. Susquehanna raised their target price on shares of ConocoPhillips from $149.00 to $152.00 in a report on Friday, May 1st. Finally, Citigroup increased their price target on shares of ConocoPhillips from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, April 2nd. Eighteen analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $134.04.

ConocoPhillips Price Performance

Shares of NYSE:COP opened at $105.63 on Friday. The firm’s 50 day moving average price is $117.29 and its 200-day moving average price is $111.81. ConocoPhillips has a twelve month low of $85.57 and a twelve month high of $135.87. 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 stock has a market capitalization of $128.69 billion, a PE ratio of 17.93, a price-to-earnings-growth ratio of 1.18 and a beta of 0.11.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, topping the consensus estimate of $1.72 by $0.17. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The firm had revenue of $15.76 billion for the quarter, compared to the consensus estimate of $15.62 billion. During the same quarter last year, the company earned $2.09 earnings per share. The business’s revenue for the quarter was down 6.1% compared to the same quarter last year. Equities research analysts expect that ConocoPhillips will post 10.03 EPS for the current year.

Insider Buying and Selling

In other ConocoPhillips news, CEO Ryan Michael Lance sold 113,221 shares of the stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $132.71, for a total transaction of $15,025,558.91. Following the completion of the transaction, the chief executive officer owned 350,000 shares of the company’s stock, valued at $46,448,500. This trade represents a 24.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.09% of the stock is owned by insiders.

Institutional Trading of ConocoPhillips

A number of large investors have recently modified their holdings of the stock. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in ConocoPhillips in the fourth quarter valued at $25,000. KERR FINANCIAL PLANNING Corp acquired a new position in ConocoPhillips during the third quarter worth $28,000. Board of the Pension Protection Fund purchased a new position in ConocoPhillips in the fourth quarter worth $28,000. Strive Asset Management LLC purchased a new position in ConocoPhillips in the third quarter worth $28,000. Finally, Frazier Financial Advisors LLC boosted its position in shares of ConocoPhillips by 151.0% during the 1st quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock worth $32,000 after purchasing an additional 145 shares in the last quarter. Hedge funds and other 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.