ConocoPhillips (NYSE:COP) Price Target Raised to $157.00 at Piper Sandler

ConocoPhillips (NYSE:COP) had its target price raised by equities research analysts at Piper Sandler from $154.00 to $157.00 in a note issued to investors on Wednesday,MarketScreener reports. The brokerage currently has an “overweight” rating on the energy producer’s stock. Piper Sandler’s price objective points to a potential upside of 19.43% from the company’s previous close.

Several other equities research analysts have also recently weighed in on COP. Capital One Financial increased their price objective on ConocoPhillips from $116.00 to $156.00 and gave the stock an “equal weight” rating in a report on Thursday, March 26th. Mizuho upped their target price on ConocoPhillips from $121.00 to $136.00 and gave the company an “outperform” rating in a report on Tuesday, March 17th. Bank of America reaffirmed an “underperform” rating and issued a $102.00 price target on shares of ConocoPhillips in a research note on Friday, January 16th. Sanford C. Bernstein cut their price target on shares of ConocoPhillips from $116.00 to $98.00 and set an “outperform” rating on the stock in a report on Monday, January 5th. Finally, BMO Capital Markets upped their price objective on shares of ConocoPhillips from $130.00 to $140.00 and gave the stock an “outperform” rating in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $127.08.

ConocoPhillips Price Performance

Shares of NYSE COP opened at $131.45 on Wednesday. The company has a current ratio of 1.30, a quick ratio of 1.14 and a debt-to-equity ratio of 0.35. The stock has a fifty day simple moving average of $117.22 and a two-hundred day simple moving average of $101.02. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $135.87. The firm has a market cap of $160.22 billion, a price-to-earnings ratio of 20.73, a price-to-earnings-growth ratio of 2.53 and a beta of 0.19.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, February 5th. The energy producer reported $1.02 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.21). ConocoPhillips had a return on equity of 11.90% and a net margin of 12.98%.The business had revenue of $13.86 billion during the quarter, compared to the consensus estimate of $14.35 billion. During the same period last year, the business posted $1.98 earnings per share. The firm’s quarterly revenue was down 3.7% on a year-over-year basis. Analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current year.

Insider Buying and Selling at ConocoPhillips

In related news, SVP Kelly Brunetti Rose sold 7,700 shares of the business’s stock in a transaction that occurred on Tuesday, March 24th. The shares were sold at an average price of $130.03, for a total value of $1,001,231.00. Following the completion of the transaction, the senior vice president directly owned 25,284 shares in the company, valued at $3,287,678.52. The trade was a 23.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Andrew D. Lundquist sold 34,500 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $119.68, for a total value of $4,128,960.00. Following the completion of the transaction, the senior vice president directly owned 17,469 shares in the company, valued at $2,090,689.92. This trade represents a 66.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 734,891 shares of company stock worth $93,345,692 in the last 90 days. Insiders own 0.24% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in shares of ConocoPhillips in the fourth quarter worth approximately $25,000. Cloud Capital Management LLC bought a new position in shares of ConocoPhillips during the 3rd quarter valued at $26,000. KERR FINANCIAL PLANNING Corp purchased a new position in shares of ConocoPhillips in the 3rd quarter worth $28,000. Board of the Pension Protection Fund bought a new stake in shares of ConocoPhillips in the fourth quarter worth $28,000. Finally, Strive Asset Management LLC bought a new stake in shares of ConocoPhillips in the third quarter worth $28,000. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Company Profile

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.