Morgan Stanley Lowers ConocoPhillips (NYSE:COP) Price Target to $117.00

ConocoPhillips (NYSE:COP) had its price objective reduced by equities researchers at Morgan Stanley from $122.00 to $117.00 in a note issued to investors on Thursday,MarketScreener reports. The brokerage presently has an “overweight” rating on the energy producer’s stock. Morgan Stanley’s price target points to a potential upside of 33.97% from the company’s previous close.

COP has been the subject of a number of other research reports. Royal Bank Of Canada increased their price target on shares of ConocoPhillips from $113.00 to $118.00 and gave the stock an “outperform” rating in a research note on Monday, October 13th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of ConocoPhillips in a report on Thursday, November 13th. UBS Group lowered their price target on ConocoPhillips from $122.00 to $117.00 and set a “buy” rating on the stock in a report on Wednesday, November 12th. BMO Capital Markets dropped their price target on ConocoPhillips from $122.00 to $117.00 and set a “buy” rating on the stock in a research report on Wednesday, November 12th. Finally, Roth Capital decreased their price objective on ConocoPhillips from $108.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, October 15th. Eighteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $115.13.

ConocoPhillips Trading Down 0.2%

NYSE:COP opened at $87.33 on Thursday. The company has a market capitalization of $107.92 billion, a PE ratio of 11.72, a P/E/G ratio of 2.36 and a beta of 0.58. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $112.73. The stock’s 50 day moving average price is $90.47 and its 200 day moving average price is $91.87. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, November 6th. The energy producer reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.20. The company had revenue of $15.03 billion during the quarter, compared to analysts’ expectations of $14.51 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.78 earnings per share. On average, research analysts anticipate that ConocoPhillips will post 8.16 EPS for the current year.

Insiders Place Their Bets

In other ConocoPhillips news, Director William H. Mcraven acquired 5,768 shares of the stock in a transaction on Monday, November 10th. The shares were bought at an average price of $86.68 per share, with a total value of $499,970.24. Following the acquisition, the director owned 5,768 shares of the company’s stock, valued at $499,970.24. This trade represents a ? increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.24% of the company’s stock.

Institutional Trading of ConocoPhillips

Several hedge funds have recently modified their holdings of the business. CIBC Bancorp USA Inc. acquired a new position in ConocoPhillips during the third quarter worth $16,344,000. WBI Investments LLC lifted its holdings in ConocoPhillips by 698.2% in the third quarter. WBI Investments LLC now owns 22,079 shares of the energy producer’s stock valued at $2,088,000 after acquiring an additional 19,313 shares during the period. Centaurus Financial Inc. boosted its position in shares of ConocoPhillips by 29.9% during the 3rd quarter. Centaurus Financial Inc. now owns 7,503 shares of the energy producer’s stock worth $710,000 after purchasing an additional 1,725 shares in the last quarter. Tweedy Browne Co LLC grew its stake in shares of ConocoPhillips by 16.0% during the 3rd quarter. Tweedy Browne Co LLC now owns 24,721 shares of the energy producer’s stock worth $2,338,000 after purchasing an additional 3,417 shares during the period. Finally, Coldstream Capital Management Inc. increased its holdings in shares of ConocoPhillips by 4.5% in the 3rd quarter. Coldstream Capital Management Inc. now owns 35,932 shares of the energy producer’s stock valued at $3,399,000 after purchasing an additional 1,563 shares in the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

About ConocoPhillips

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.