ConocoPhillips (NYSE:COP) Given New $142.00 Price Target at Raymond James Financial

ConocoPhillips (NYSE:COP) had its price target decreased by stock analysts at Raymond James Financial from $145.00 to $142.00 in a research report issued to clients and investors on Monday,MarketScreener reports. The brokerage currently has an “outperform” rating on the energy producer’s stock. Raymond James Financial’s price target would suggest a potential upside of 21.29% from the company’s previous close.

Several other brokerages also recently weighed in on COP. JPMorgan Chase & Co. raised their target price on ConocoPhillips from $98.00 to $103.00 and gave the company a “neutral” rating in a research note on Friday, February 6th. Argus increased their price target on ConocoPhillips from $128.00 to $136.00 and gave the company a “buy” rating in a report on Friday, May 15th. Piper Sandler lifted their price objective on ConocoPhillips from $154.00 to $157.00 and gave the stock an “overweight” rating in a report on Wednesday, April 8th. Citigroup upped their target price on ConocoPhillips from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. Finally, Truist Financial set a $128.00 price target on shares of ConocoPhillips in a research report on Friday, May 1st. Seventeen investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $134.48.

ConocoPhillips Stock Up 2.7%

NYSE COP traded up $3.09 during trading hours on Monday, hitting $117.07. The company had a trading volume of 332,310 shares, compared to its average volume of 9,106,536. The firm’s 50 day moving average is $123.09 and its 200 day moving average is $108.61. The company has a market capitalization of $142.63 billion, a price-to-earnings ratio of 19.79, a P/E/G ratio of 1.28 and a beta of 0.11. ConocoPhillips has a fifty-two week low of $85.23 and a fifty-two week high of $135.87. 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 earnings results 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. The company had revenue of $15.76 billion during the quarter, compared to the consensus estimate of $15.62 billion. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The company’s revenue was down 6.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.09 earnings per share. Sell-side analysts anticipate that ConocoPhillips will post 9.92 earnings per share for the current fiscal year.

Insider Buying and Selling at ConocoPhillips

In related news, Director Timothy A. Leach sold 40,000 shares of the stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $118.79, for a total value of $4,751,600.00. Following the completion of the transaction, the director directly owned 411,211 shares of the company’s stock, valued at $48,847,754.69. This represents a 8.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Andrew D. Lundquist sold 34,500 shares of the firm’s stock in a transaction on Friday, March 13th. The shares were sold at an average price of $119.68, for a total value of $4,128,960.00. Following the transaction, the senior vice president directly owned 17,469 shares in the company, valued at $2,090,689.92. This trade represents a 66.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 734,891 shares of company stock valued at $93,345,692. 0.09% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Patten Group Inc. grew its holdings in shares of ConocoPhillips by 1.5% during the first quarter. Patten Group Inc. now owns 5,447 shares of the energy producer’s stock valued at $719,000 after buying an additional 83 shares in the last quarter. IFC Advisors LLC boosted its position in ConocoPhillips by 0.4% during the first quarter. IFC Advisors LLC now owns 20,182 shares of the energy producer’s stock valued at $2,664,000 after purchasing an additional 84 shares during the last quarter. Cornerstone Planning Group LLC grew its stake in ConocoPhillips by 9.6% in the first quarter. Cornerstone Planning Group LLC now owns 1,006 shares of the energy producer’s stock valued at $124,000 after purchasing an additional 88 shares in the last quarter. Blue Trust Inc. increased its position in ConocoPhillips by 0.4% in the 1st quarter. Blue Trust Inc. now owns 21,144 shares of the energy producer’s stock worth $2,791,000 after purchasing an additional 92 shares during the last quarter. Finally, Sigma Planning Corp raised its position in ConocoPhillips by 0.6% during the first quarter. Sigma Planning Corp now owns 16,062 shares of the energy producer’s stock valued at $2,120,000 after acquiring an additional 94 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other 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.