ConocoPhillips (NYSE:COP) Price Target Raised to $125.00 at Scotiabank

ConocoPhillips (NYSE:COP) had its price objective boosted by research analysts at Scotiabank from $100.00 to $125.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “sector perform” rating on the energy producer’s stock. Scotiabank’s price target would indicate a potential upside of 2.13% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. Barclays upped their price objective on shares of ConocoPhillips from $118.00 to $128.00 and gave the company an “overweight” rating in a report on Monday, March 16th. Piper Sandler boosted their price target on shares of ConocoPhillips from $154.00 to $157.00 and gave the company an “overweight” rating in a research report on Wednesday, April 8th. Citigroup upped their price target on shares of ConocoPhillips from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, April 2nd. Jefferies Financial Group lifted their price objective on shares of ConocoPhillips from $129.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, April 13th. Finally, Morgan Stanley boosted their target price on shares of ConocoPhillips from $108.00 to $149.00 and gave the company an “overweight” rating in a report on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $131.36.

ConocoPhillips Stock Performance

NYSE:COP traded up $2.13 during trading hours on Wednesday, reaching $122.39. The stock had a trading volume of 2,757,679 shares, compared to its average volume of 9,585,346. The stock has a market cap of $149.17 billion, a P/E ratio of 19.32, a price-to-earnings-growth ratio of 2.12 and a beta of 0.19. The stock has a 50 day simple moving average of $120.31 and a 200 day simple moving average of $102.83. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.14 and a current ratio of 1.30. 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 results on Thursday, February 5th. The energy producer reported $1.02 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.21). The firm had revenue of $13.86 billion for the quarter, compared to analysts’ expectations of $14.35 billion. ConocoPhillips had a net margin of 12.98% and a return on equity of 11.90%. The firm’s quarterly revenue was down 3.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.98 EPS. On average, research analysts forecast that ConocoPhillips will post 7.77 EPS for the current fiscal year.

Insider Activity at ConocoPhillips

In other ConocoPhillips news, EVP Nicholas G. Olds sold 14,522 shares of the firm’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $119.36, for a total value of $1,733,345.92. Following the completion of the transaction, the executive vice president directly owned 12,389 shares of the company’s stock, valued at $1,478,751.04. This trade represents a 53.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Andrew D. Lundquist sold 34,500 shares of the business’s stock in a transaction on Friday, March 13th. The shares were sold at an average price of $119.68, for a total transaction of $4,128,960.00. Following the transaction, the senior vice president owned 17,469 shares of the company’s stock, 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. Insiders have sold 734,891 shares of company stock valued at $93,345,692 in the last quarter. 0.09% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ConocoPhillips

Institutional investors and hedge funds have recently made changes to their positions in the business. Tema Etfs LLC purchased a new position in shares of ConocoPhillips in the 3rd quarter worth about $1,804,000. Victory Capital Management Inc. raised its holdings in shares of ConocoPhillips by 14.7% during the 3rd quarter. Victory Capital Management Inc. now owns 2,331,176 shares of the energy producer’s stock valued at $220,506,000 after buying an additional 298,245 shares in the last quarter. Natixis Advisors LLC raised its holdings in shares of ConocoPhillips by 8.7% during the 3rd quarter. Natixis Advisors LLC now owns 1,996,426 shares of the energy producer’s stock valued at $188,842,000 after buying an additional 160,410 shares in the last quarter. D.A. Davidson & CO. lifted its position in ConocoPhillips by 12.1% in the 3rd quarter. D.A. Davidson & CO. now owns 140,829 shares of the energy producer’s stock worth $13,321,000 after buying an additional 15,202 shares during the last quarter. Finally, Chilton Capital Management LLC lifted its position in ConocoPhillips by 3.2% in the 3rd quarter. Chilton Capital Management LLC now owns 389,995 shares of the energy producer’s stock worth $36,890,000 after buying an additional 11,958 shares during 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.