Wolfe Research Lowers ConocoPhillips (NYSE:COP) Price Target to $130.00

ConocoPhillips (NYSE:COP) had its price target lowered by equities researchers at Wolfe Research from $137.00 to $130.00 in a research report issued on Monday,MarketScreener reports. The firm presently has an “outperform” rating on the energy producer’s stock. Wolfe Research’s price objective points to a potential upside of 50.48% from the stock’s current price.

Other equities analysts have also issued reports about the company. Scotiabank boosted their price objective on ConocoPhillips from $95.00 to $100.00 and gave the company a “sector perform” rating in a research report on Friday, July 11th. Jefferies Financial Group decreased their price objective on ConocoPhillips from $129.00 to $120.00 and set a “buy” rating for the company in a research report on Monday, October 13th. Morgan Stanley decreased their price objective on ConocoPhillips from $123.00 to $122.00 and set an “overweight” rating for the company in a research report on Tuesday, October 14th. The Goldman Sachs Group decreased their price objective on ConocoPhillips from $111.00 to $108.00 and set a “buy” rating for the company in a research report on Friday, October 17th. Finally, Evercore ISI decreased their price objective on ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating for the company in a research report on Monday, October 6th. Eighteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $115.63.

ConocoPhillips Stock Performance

Shares of COP stock opened at $86.39 on Monday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10. The stock has a market cap of $107.90 billion, a PE ratio of 11.60, a price-to-earnings-growth ratio of 2.30 and a beta of 0.62. The stock has a 50-day moving average of $93.75 and a 200-day moving average of $91.88. ConocoPhillips has a one year low of $79.88 and a one year high of $115.38.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.06. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The business had revenue of $14.94 billion during the quarter, compared to analyst estimates of $14.39 billion. During the same period in the previous year, the firm earned $1.98 EPS. ConocoPhillips’s quarterly revenue was up 4.3% compared to the same quarter last year. As a group, sell-side analysts expect that ConocoPhillips will post 8.16 earnings per share for the current year.

Institutional Investors Weigh In On ConocoPhillips

Large investors have recently made changes to their positions in the stock. Howard Hughes Medical Institute acquired a new stake in shares of ConocoPhillips in the 2nd quarter valued at approximately $25,000. Bogart Wealth LLC boosted its holdings in shares of ConocoPhillips by 136.8% in the 2nd quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock valued at $28,000 after buying an additional 182 shares during the last quarter. Activest Wealth Management boosted its holdings in shares of ConocoPhillips by 249.5% in the 2nd quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock valued at $29,000 after buying an additional 232 shares during the last quarter. Financial Network Wealth Advisors LLC lifted its holdings 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 purchasing an additional 222 shares during the last quarter. Finally, Stone House Investment Management LLC acquired a new stake in ConocoPhillips during the 1st quarter valued at $31,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

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.