ConocoPhillips (NYSE:COP) Stock Rating Lowered by Sanford C. Bernstein

ConocoPhillips (NYSE:COP) was downgraded by investment analysts at Sanford C. Bernstein from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Wednesday, MarketBeat.com reports. They presently have a $122.00 target price on the energy producer’s stock, down from their previous target price of $129.00. Sanford C. Bernstein‘s price target points to a potential downside of 11.43% from the company’s previous close.

Other analysts also recently issued research reports about the company. UBS Group reiterated an “outperform” rating on shares of ConocoPhillips in a research report on Monday, November 2nd. Freedom Capital upgraded ConocoPhillips from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 10th. William Blair initiated coverage on ConocoPhillips in a research report on Wednesday, October 28th. They set a “market perform” rating for the company. Raymond James Financial reiterated an “outperform” rating and set a $170.00 price target on shares of ConocoPhillips in a research report on Monday, November 2nd. Finally, Jefferies Financial Group lifted their price target on ConocoPhillips from $159.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, October 6th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $144.73.

ConocoPhillips Price Performance

COP opened at $137.75 on Wednesday. ConocoPhillips has a twelve month low of $85.70 and a twelve month high of $154.28. The firm has a 50-day moving average price of $137.10 and a 200-day moving average price of $122.68. The company has a quick ratio of 1.37, a current ratio of 1.52 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $162.87 billion, a price-to-earnings ratio of 14.47, a PEG ratio of 1.25 and a beta of 0.16.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, November 5th. The energy producer reported $3.27 earnings per share for the quarter, beating analysts’ consensus estimates of $3.05 by $0.22. The business had revenue of $19.44 billion during the quarter, compared to analyst estimates of $18.59 billion. ConocoPhillips had a return on equity of 17.60% and a net margin of 16.55%. The company’s quarterly revenue was up 29.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.61 EPS. Equities analysts expect that ConocoPhillips will post 12.09 EPS for the current year.

Insiders Place Their Bets

In related news, SVP Andrew Lundquist sold 9,487 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $135.15, for a total value of $1,282,168.05. Following the completion of the sale, the senior vice president owned 9,593 shares in the company, valued at $1,296,493.95. The trade was a 49.72% decrease in their position. The transaction 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 hedge funds have recently bought and sold shares of the company. Valued Wealth Advisors LLC lifted its position in ConocoPhillips by 22.0% in the 3rd quarter. Valued Wealth Advisors LLC now owns 427 shares of the energy producer’s stock worth $53,000 after buying an additional 77 shares during the last quarter. Bfsg LLC lifted its position in ConocoPhillips by 34.8% in the 3rd quarter. Bfsg LLC now owns 302 shares of the energy producer’s stock worth $38,000 after buying an additional 78 shares during the last quarter. Warwick Investment Management Inc. lifted its position in ConocoPhillips by 2.1% in the 3rd quarter. Warwick Investment Management Inc. now owns 4,066 shares of the energy producer’s stock worth $509,000 after buying an additional 82 shares during the last quarter. Kennebec Savings Bank increased its stake in ConocoPhillips by 1.3% in the 3rd quarter. Kennebec Savings Bank now owns 6,828 shares of the energy producer’s stock worth $855,000 after purchasing an additional 85 shares during the period. Finally, Cornerstone Planning Group LLC increased its stake in ConocoPhillips by 9.6% in the 1st quarter. Cornerstone Planning Group LLC now owns 1,006 shares of the energy producer’s stock worth $124,000 after purchasing an additional 88 shares during the period. Institutional investors own 82.36% of the company’s stock.

About ConocoPhillips

ConocoPhillips is an independent exploration and production company focused on finding, developing and producing oil and natural gas. Its products include crude oil, natural gas, liquefied natural gas and natural gas liquids. The company operates in several regions, including North America, Europe, the Middle East, North Africa and the Asia-Pacific. Its activities span exploration, development and production, with a portfolio that includes both conventional and unconventional resources. ConocoPhillips was formed in 2002 through the merger of Conoco and Phillips Petroleum.