UBS Group Cuts ConocoPhillips (NYSE:COP) Price Target to $111.00

ConocoPhillips (NYSE:COP) had its price objective lowered by UBS Group from $116.00 to $111.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the energy producer’s stock. UBS Group’s target price indicates a potential upside of 28.35% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. Morgan Stanley decreased their price target on shares of ConocoPhillips from $131.00 to $126.00 and set an “overweight” rating for the company in a report on Thursday, March 27th. Scotiabank lowered their target price on ConocoPhillips from $115.00 to $95.00 and set a “sector perform” rating for the company in a research note on Friday. Royal Bank of Canada lowered their target price on ConocoPhillips from $133.00 to $120.00 and set an “outperform” rating for the company in a report on Monday. Wells Fargo & Company reduced their price objective on ConocoPhillips from $131.00 to $116.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, Truist Financial boosted their price objective on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $128.84.

ConocoPhillips Price Performance

Shares of COP traded up $0.03 on Tuesday, hitting $86.48. The company’s stock had a trading volume of 1,316,762 shares, compared to its average volume of 8,752,630. The company has a 50 day moving average price of $96.24 and a 200 day moving average price of $101.91. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $130.80. The company has a market capitalization of $109.33 billion, a PE ratio of 11.11, a PEG ratio of 0.79 and a beta of 0.83.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. On average, research analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

Institutional Trading of ConocoPhillips

Several institutional investors have recently added to or reduced their stakes in COP. Orrstown Financial Services Inc. boosted its holdings in shares of ConocoPhillips by 3.0% during the 4th quarter. Orrstown Financial Services Inc. now owns 3,342 shares of the energy producer’s stock worth $331,000 after buying an additional 96 shares in the last quarter. Principle Wealth Partners LLC grew its position in ConocoPhillips by 0.3% in the 4th quarter. Principle Wealth Partners LLC now owns 37,255 shares of the energy producer’s stock valued at $3,695,000 after purchasing an additional 100 shares during the period. Arlington Trust Co LLC lifted its stake in shares of ConocoPhillips by 1.2% in the fourth quarter. Arlington Trust Co LLC now owns 8,640 shares of the energy producer’s stock valued at $857,000 after buying an additional 102 shares in the last quarter. Courier Capital LLC raised its holdings in shares of ConocoPhillips by 0.5% in the 4th quarter. Courier Capital LLC now owns 20,481 shares of the energy producer’s stock worth $2,031,000 after acquiring an additional 103 shares during the last quarter. Finally, Gray Wealth Management Inc. boosted its stake in ConocoPhillips by 5.0% during the 4th quarter. Gray Wealth Management Inc. now owns 2,171 shares of the energy producer’s stock valued at $215,000 after purchasing an additional 104 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors.

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.