BMO Capital Markets Boosts ConocoPhillips (NYSE:COP) Price Target to $140.00

ConocoPhillips (NYSE:COP) had its target price increased by investment analysts at BMO Capital Markets from $130.00 to $140.00 in a note issued to investors on Tuesday,MarketScreener reports. The brokerage presently has an “outperform” rating on the energy producer’s stock. BMO Capital Markets’ target price would suggest a potential upside of 5.36% from the stock’s previous close.

Several other equities analysts have also recently commented on the stock. Citigroup upped their target price on shares of ConocoPhillips from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, April 2nd. Barclays increased their price objective on shares of ConocoPhillips from $118.00 to $128.00 and gave the company an “overweight” rating in a research note on Monday, March 16th. Raymond James Financial increased their price objective on shares of ConocoPhillips from $113.00 to $118.00 and gave the company an “outperform” rating in a research note on Wednesday, February 11th. Morgan Stanley increased their price objective on shares of ConocoPhillips from $108.00 to $149.00 and gave the company an “overweight” rating in a research note on Friday, March 27th. Finally, Mizuho increased their price objective on shares of ConocoPhillips from $121.00 to $136.00 and gave the company an “outperform” rating in a research note on Tuesday, March 17th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $125.60.

ConocoPhillips Price Performance

NYSE:COP opened at $132.87 on Tuesday. The stock has a market cap of $161.95 billion, a P/E ratio of 20.94, a PEG ratio of 2.53 and a beta of 0.19. ConocoPhillips has a one year low of $79.88 and a one year high of $135.87. The company has a fifty day moving average price of $116.59 and a 200 day moving average price of $100.75. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.30 and a quick ratio of 1.14.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, February 5th. The energy producer reported $1.02 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.21). The company had revenue of $13.86 billion for the quarter, compared to analyst estimates of $14.35 billion. ConocoPhillips had a net margin of 12.98% and a return on equity of 11.90%. ConocoPhillips’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.98 earnings per share. 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 stock in a transaction dated Tuesday, March 24th. The shares were sold at an average price of $130.03, for a total transaction of $1,001,231.00. Following the completion of the sale, the senior vice president owned 25,284 shares in the company, valued at $3,287,678.52. This trade represents a 23.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Andrew D. Lundquist sold 34,500 shares of the stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $119.68, for a total transaction of $4,128,960.00. Following the sale, the senior vice president owned 17,469 shares of the company’s stock, valued at $2,090,689.92. This trade represents a 66.39% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 734,891 shares of company stock worth $93,345,692 over the last ninety days. Company insiders own 0.24% of the company’s stock.

Institutional Investors Weigh In On ConocoPhillips

Hedge funds have recently added to or reduced their stakes in the stock. Tema Etfs LLC bought a new stake in ConocoPhillips during the 3rd quarter worth about $1,804,000. Victory Capital Management Inc. grew its holdings in ConocoPhillips by 14.7% during the 3rd quarter. Victory Capital Management Inc. now owns 2,331,176 shares of the energy producer’s stock worth $220,506,000 after acquiring an additional 298,245 shares during the last quarter. Natixis Advisors LLC grew its holdings in ConocoPhillips by 8.7% during the 3rd quarter. Natixis Advisors LLC now owns 1,996,426 shares of the energy producer’s stock worth $188,842,000 after acquiring an additional 160,410 shares during the last quarter. D.A. Davidson & CO. grew its holdings in ConocoPhillips by 12.1% during the 3rd quarter. D.A. Davidson & CO. now owns 140,829 shares of the energy producer’s stock worth $13,321,000 after acquiring an additional 15,202 shares during the last quarter. Finally, Chilton Capital Management LLC grew its holdings in ConocoPhillips by 3.2% during the 3rd quarter. Chilton Capital Management LLC now owns 389,995 shares of the energy producer’s stock worth $36,890,000 after acquiring an additional 11,958 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

About ConocoPhillips

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.