ConocoPhillips (NYSE:COP) Price Target Raised to $157.00 at Raymond James

ConocoPhillips (NYSE:COP) had its target price increased by Raymond James from $148.00 to $157.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “strong-buy” rating on the energy producer’s stock. Raymond James’ price objective would indicate a potential upside of 50.58% from the stock’s previous close.

COP has been the subject of a number of other reports. Susquehanna lifted their price target on shares of ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a report on Friday, November 1st. Wells Fargo & Company cut their price target on ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating for the company in a report on Tuesday, January 14th. Mizuho upgraded ConocoPhillips from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $132.00 to $134.00 in a report on Monday, December 16th. Scotiabank reduced their target price on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. Finally, TD Cowen assumed coverage on ConocoPhillips in a report on Friday, January 17th. They issued a “buy” rating and a $125.00 price target for the company. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $135.89.

ConocoPhillips Price Performance

NYSE COP traded up $1.20 during trading hours on Thursday, reaching $104.26. The company’s stock had a trading volume of 1,713,103 shares, compared to its average volume of 5,581,012. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. The stock has a market cap of $120.00 billion, a PE ratio of 12.39, a PEG ratio of 0.87 and a beta of 1.19. The company’s 50-day moving average is $103.36 and its two-hundred day moving average is $107.22. ConocoPhillips has a fifty-two week low of $94.23 and a fifty-two week high of $135.18.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The firm had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. During the same quarter in the prior year, the company earned $2.16 EPS. ConocoPhillips’s revenue was down 8.5% on a year-over-year basis. Analysts forecast that ConocoPhillips will post 7.68 EPS for the current year.

Insiders Place Their Bets

In other ConocoPhillips news, Director R A. Walker acquired 10,400 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was acquired at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the transaction, the director now directly owns 38,000 shares in the company, valued at approximately $3,716,400. This represents a 37.68 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Arjun N. Murti bought 2,500 shares of the business’s stock in a transaction on Friday, December 20th. The stock was acquired at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the acquisition, the director now directly owns 21,500 shares of the company’s stock, valued at $2,061,205. The trade was a 13.16 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ConocoPhillips

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Marshall Wace LLP acquired a new position in shares of ConocoPhillips during the 2nd quarter valued at $33,128,000. AlTi Global Inc. grew its holdings in ConocoPhillips by 2.3% during the second quarter. AlTi Global Inc. now owns 7,132 shares of the energy producer’s stock worth $816,000 after acquiring an additional 162 shares during the period. AXA S.A. raised its position in ConocoPhillips by 7.1% in the second quarter. AXA S.A. now owns 32,046 shares of the energy producer’s stock worth $3,665,000 after acquiring an additional 2,116 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of ConocoPhillips by 25.2% during the 2nd quarter. AQR Capital Management LLC now owns 615,172 shares of the energy producer’s stock valued at $70,363,000 after purchasing an additional 123,834 shares in the last quarter. Finally, Encompass Capital Advisors LLC acquired a new stake in ConocoPhillips during the second quarter valued at approximately $60,050,000. Institutional investors 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.