The Goldman Sachs Group Lowers ConocoPhillips (NYSE:COP) Price Target to $138.00

ConocoPhillips (NYSE:COP) had its price target lowered by analysts at The Goldman Sachs Group from $144.00 to $138.00 in a note issued to investors on Tuesday,MarketScreener reports. The firm presently has a “buy” rating on the energy producer’s stock. The Goldman Sachs Group’s target price indicates a potential upside of 32.01% from the stock’s current price.

Several other brokerages also recently issued reports on COP. Truist Financial set a $128.00 price target on shares of ConocoPhillips in a research report on Friday, May 1st. Zacks Research downgraded shares of ConocoPhillips from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 27th. Piper Sandler upped their price objective on ConocoPhillips from $154.00 to $157.00 and gave the company an “overweight” rating in a report on Wednesday, April 8th. Citigroup increased their target price on ConocoPhillips from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, April 2nd. Finally, Mizuho boosted their target price on ConocoPhillips from $136.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 27th. Eighteen equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $134.76.

ConocoPhillips Trading Up 0.3%

ConocoPhillips stock opened at $104.54 on Tuesday. ConocoPhillips has a 52 week low of $85.57 and a 52 week high of $135.87. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29. The firm has a market capitalization of $127.36 billion, a price-to-earnings ratio of 17.73, a P/E/G ratio of 1.17 and a beta of 0.11. The company has a 50 day moving average price of $116.94 and a 200 day moving average price of $112.02.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.17. The business had revenue of $15.76 billion for the quarter, compared to analyst estimates of $15.62 billion. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. ConocoPhillips’s revenue was down 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.09 earnings per share. Research analysts forecast that ConocoPhillips will post 10.03 EPS for the current year.

Institutional Trading of ConocoPhillips

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Victory Capital Management Inc. increased its stake in ConocoPhillips by 14.7% in 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 during the last quarter. Natixis Advisors LLC increased its holdings in ConocoPhillips by 8.7% during the third quarter. Natixis Advisors LLC now owns 1,996,426 shares of the energy producer’s stock worth $188,842,000 after buying an additional 160,410 shares during the last quarter. Concurrent Investment Advisors LLC raised its position in ConocoPhillips by 31.2% in the fourth quarter. Concurrent Investment Advisors LLC now owns 86,171 shares of the energy producer’s stock worth $8,067,000 after acquiring an additional 20,501 shares during the period. SPX Gestao de Recursos Ltda purchased a new position in ConocoPhillips in the third quarter valued at about $1,892,000. Finally, D.A. Davidson & CO. grew its position in shares of ConocoPhillips by 10.5% during the 4th quarter. D.A. Davidson & CO. now owns 155,662 shares of the energy producer’s stock valued at $14,572,000 after acquiring an additional 14,833 shares during the period. 82.36% of the stock is currently owned by institutional investors and hedge funds.

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.