UBS Group Has Lowered Expectations for ConocoPhillips (NYSE:COP) Stock Price

ConocoPhillips (NYSE:COP) had its price objective reduced by research analysts at UBS Group from $122.00 to $117.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the energy producer’s stock. UBS Group’s price objective points to a potential upside of 30.30% from the stock’s previous close.

A number of other research analysts have also recently commented on the company. Barclays lowered their price target on ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating on the stock in a report on Tuesday, October 7th. Jefferies Financial Group dropped their target price on shares of ConocoPhillips from $129.00 to $120.00 and set a “buy” rating for the company in a research report on Monday, October 13th. Wolfe Research reiterated an “outperform” rating and issued a $131.00 price target on shares of ConocoPhillips in a report on Thursday, November 6th. The Goldman Sachs Group decreased their price target on shares of ConocoPhillips from $111.00 to $108.00 and set a “buy” rating on the stock in a research note on Friday, October 17th. Finally, Piper Sandler cut their price objective on ConocoPhillips from $124.00 to $115.00 and set an “overweight” rating for the company in a research report on Monday, October 13th. Eighteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $115.33.

ConocoPhillips Price Performance

ConocoPhillips stock traded down $0.90 during mid-day trading on Wednesday, hitting $89.79. The stock had a trading volume of 201,462 shares, compared to its average volume of 7,656,769. ConocoPhillips has a one year low of $79.88 and a one year high of $115.38. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $112.15 billion, a P/E ratio of 12.03, a P/E/G ratio of 2.36 and a beta of 0.58. The firm’s 50 day moving average is $91.20 and its 200 day moving average is $91.98.

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

Insider Activity

In related news, Director William H. Mcraven acquired 5,768 shares of the stock in a transaction on Monday, November 10th. The stock was bought at an average cost of $86.68 per share, with a total value of $499,970.24. Following the transaction, the director directly owned 5,768 shares in the company, valued at approximately $499,970.24. This represents a ? increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.24% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Howard Hughes Medical Institute purchased a new position in shares of ConocoPhillips during the second quarter valued at $25,000. Cloud Capital Management LLC bought a new stake in shares of ConocoPhillips in the 3rd quarter valued at about $26,000. Bogart Wealth LLC boosted its stake in shares of ConocoPhillips by 136.8% during the second quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock valued at $28,000 after purchasing an additional 182 shares in the last quarter. Activest Wealth Management raised its stake in ConocoPhillips by 249.5% in the second quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock worth $29,000 after buying an additional 232 shares in the last quarter. Finally, Financial Network Wealth Advisors LLC boosted its position in ConocoPhillips by 341.5% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock valued at $30,000 after acquiring an additional 222 shares in the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Company Profile

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.