ConocoPhillips (NYSE:COP) Price Target Lowered to $140.00 at UBS Group

ConocoPhillips (NYSE:COP) had its target price reduced by analysts at UBS Group from $153.00 to $140.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the energy producer’s stock. UBS Group’s price target points to a potential upside of 28.78% from the company’s previous close.

Several other research analysts have also recently issued reports on the stock. Sanford C. Bernstein dropped their target price on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Barclays lifted their target price on shares of ConocoPhillips from $158.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. Mizuho reduced their target price on ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating for the company in a research note on Monday. StockNews.com lowered ConocoPhillips from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, Bank of America reaffirmed a “buy” rating and set a $147.00 target price on shares of ConocoPhillips in a report on Friday, June 14th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $142.29.

ConocoPhillips Stock Performance

NYSE COP traded up $0.42 on Wednesday, hitting $108.71. 1,771,525 shares of the company traded hands, compared to its average volume of 5,691,853. The business’s 50 day moving average price is $109.97 and its 200-day moving average price is $116.64. The company has a current ratio of 1.33, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $126.24 billion, a price-to-earnings ratio of 12.28, a P/E/G ratio of 0.78 and a beta of 1.22. ConocoPhillips has a 52-week low of $101.29 and a 52-week high of $135.18.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, topping the consensus estimate of $1.96 by $0.02. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The business had revenue of $14.14 billion for the quarter, compared to analysts’ expectations of $14.96 billion. During the same quarter in the previous year, the company earned $1.84 EPS. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. Equities analysts expect that ConocoPhillips will post 8.41 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Timothy A. Leach sold 55,500 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total value of $6,000,105.00. Following the completion of the sale, the director now owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.34% of the stock is owned by insiders.

Institutional Trading of ConocoPhillips

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Valued Wealth Advisors LLC boosted its holdings in ConocoPhillips by 45.8% in the first quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer’s stock valued at $33,000 after acquiring an additional 82 shares during the last quarter. Astoria Portfolio Advisors LLC. lifted its stake in shares of ConocoPhillips by 4.0% in the 1st quarter. Astoria Portfolio Advisors LLC. now owns 2,232 shares of the energy producer’s stock valued at $291,000 after purchasing an additional 85 shares in the last quarter. Manchester Capital Management LLC grew its holdings in shares of ConocoPhillips by 22.1% during the 1st quarter. Manchester Capital Management LLC now owns 475 shares of the energy producer’s stock worth $60,000 after purchasing an additional 86 shares during the period. Adirondack Trust Co. increased its position in ConocoPhillips by 3.1% during the 4th quarter. Adirondack Trust Co. now owns 2,990 shares of the energy producer’s stock worth $336,000 after purchasing an additional 90 shares in the last quarter. Finally, Mayfair Advisory Group LLC raised its holdings in ConocoPhillips by 3.5% in the first quarter. Mayfair Advisory Group LLC now owns 2,627 shares of the energy producer’s stock valued at $334,000 after buying an additional 90 shares during the period. 82.36% of the stock is owned by institutional investors and hedge funds.

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.