ConocoPhillips (NYSE:COP) PT Raised to $120.00 at Scotiabank

ConocoPhillips (NYSE:COPGet Free Report) had its price target increased by equities research analysts at Scotiabank from $115.00 to $120.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a “sector perform” rating on the energy producer’s stock. Scotiabank’s target price would suggest a potential upside of 7.95% from the company’s current price.

Several other research firms have also recently commented on COP. Royal Bank of Canada lifted their price target on ConocoPhillips from $130.00 to $135.00 and gave the company an “outperform” rating in a report on Tuesday, November 14th. UBS Group lowered their target price on shares of ConocoPhillips from $149.00 to $138.00 and set a “buy” rating for the company in a report on Thursday, December 14th. Raymond James cut their price target on shares of ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, January 24th. Mizuho lowered their price objective on shares of ConocoPhillips from $139.00 to $132.00 and set a “neutral” rating for the company in a research note on Wednesday, January 3rd. Finally, Susquehanna cut their target price on ConocoPhillips from $152.00 to $133.00 and set a “positive” rating on the stock in a research report on Friday, January 26th. Six investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $134.33.

Read Our Latest Stock Analysis on COP

ConocoPhillips Stock Performance

NYSE:COP opened at $111.16 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.43 and a quick ratio of 1.53. The firm has a market cap of $131.99 billion, a PE ratio of 12.27, a P/E/G ratio of 0.66 and a beta of 1.24. The firm has a 50 day simple moving average of $113.10 and a 200-day simple moving average of $116.56. ConocoPhillips has a 1-year low of $91.53 and a 1-year high of $127.35.

ConocoPhillips (NYSE:COPGet Free Report) last issued its quarterly earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.32. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. The company had revenue of $15.31 billion during the quarter, compared to the consensus estimate of $14.47 billion. During the same period in the previous year, the firm posted $2.71 EPS. On average, equities analysts expect that ConocoPhillips will post 9.45 EPS for the current year.

Hedge Funds Weigh In On ConocoPhillips

A number of institutional investors have recently added to or reduced their stakes in COP. Norris Perne & French LLP MI raised its position in ConocoPhillips by 1.9% during the third quarter. Norris Perne & French LLP MI now owns 4,364 shares of the energy producer’s stock valued at $523,000 after acquiring an additional 80 shares in the last quarter. Sloy Dahl & Holst LLC lifted its stake in shares of ConocoPhillips by 3.3% in the 3rd quarter. Sloy Dahl & Holst LLC now owns 2,629 shares of the energy producer’s stock valued at $315,000 after purchasing an additional 85 shares during the last quarter. Tevis Investment Management boosted its holdings in ConocoPhillips by 2.7% in the second quarter. Tevis Investment Management now owns 3,294 shares of the energy producer’s stock worth $341,000 after purchasing an additional 87 shares in the last quarter. Mascoma Wealth Management LLC increased its position in ConocoPhillips by 35.9% during the third quarter. Mascoma Wealth Management LLC now owns 333 shares of the energy producer’s stock worth $40,000 after buying an additional 88 shares during the last quarter. Finally, CRA Financial Services LLC raised its holdings in ConocoPhillips by 1.9% during the third quarter. CRA Financial Services LLC now owns 4,702 shares of the energy producer’s stock valued at $563,000 after buying an additional 89 shares in the last quarter. Institutional investors and hedge funds own 80.36% of the company’s stock.

ConocoPhillips Company Profile

(Get Free Report)

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

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Analyst Recommendations for ConocoPhillips (NYSE:COP)

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