Citigroup Lowers ConocoPhillips (NYSE:COP) Price Target to $115.00

ConocoPhillips (NYSE:COP) had its target price cut by Citigroup from $140.00 to $115.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the energy producer’s stock. Citigroup’s price target suggests a potential upside of 25.63% from the company’s current price.

A number of other brokerages have also issued reports on COP. JPMorgan Chase & Co. dropped their price objective on shares of ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Morgan Stanley raised their price target on shares of ConocoPhillips from $116.00 to $118.00 and gave the stock an “overweight” rating in a report on Friday, May 9th. Piper Sandler lowered their price objective on ConocoPhillips from $114.00 to $107.00 and set an “overweight” rating for the company in a research report on Tuesday, May 13th. Mizuho reduced their target price on ConocoPhillips from $127.00 to $125.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 13th. Finally, Susquehanna lowered their target price on shares of ConocoPhillips from $120.00 to $114.00 and set a “positive” rating for the company in a research note on Monday, May 12th. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.30.

ConocoPhillips Price Performance

NYSE COP traded up $0.36 on Wednesday, hitting $91.54. The company had a trading volume of 1,382,556 shares, compared to its average volume of 7,396,720. The company’s fifty day moving average price is $88.30 and its 200-day moving average price is $96.11. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $118.40. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. The company has a market capitalization of $115.72 billion, a PE ratio of 11.75, a PEG ratio of 0.79 and a beta of 0.61.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, beating analysts’ consensus estimates of $2.05 by $0.04. The business had revenue of $16.18 billion during the quarter, compared to analysts’ expectations of $15.74 billion. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. During the same period in the prior year, the business earned $2.05 earnings per share. As a group, analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Gray Wealth Management Inc. increased its holdings in shares of ConocoPhillips by 5.0% during the 4th quarter. Gray Wealth Management Inc. now owns 2,171 shares of the energy producer’s stock worth $215,000 after buying an additional 104 shares during the last quarter. Plancorp LLC grew its holdings in shares of ConocoPhillips by 2.7% during the 4th quarter. Plancorp LLC now owns 4,018 shares of the energy producer’s stock worth $399,000 after purchasing an additional 104 shares during the period. Thompson Siegel & Walmsley LLC increased its position in ConocoPhillips by 3.7% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 2,912 shares of the energy producer’s stock worth $289,000 after purchasing an additional 105 shares in the last quarter. Councilmark Asset Management LLC raised its holdings in ConocoPhillips by 0.5% in the fourth quarter. Councilmark Asset Management LLC now owns 19,639 shares of the energy producer’s stock valued at $1,948,000 after buying an additional 106 shares during the period. Finally, Second Line Capital LLC lifted its position in ConocoPhillips by 2.2% during the fourth quarter. Second Line Capital LLC now owns 4,990 shares of the energy producer’s stock valued at $495,000 after buying an additional 108 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Company Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.