Evercore ISI Has Lowered Expectations for ConocoPhillips (NYSE:COP) Stock Price

ConocoPhillips (NYSE:COP) had its target price lowered by Evercore ISI from $115.00 to $111.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an “outperform” rating on the energy producer’s stock. Evercore ISI’s price objective suggests a potential upside of 16.62% from the company’s current price.

COP has been the subject of several other reports. Morgan Stanley reiterated an “overweight” rating and issued a $123.00 target price (up from $119.00) on shares of ConocoPhillips in a research report on Sunday, August 10th. Wells Fargo & Company reiterated an “overweight” rating and issued a $117.00 target price (up from $113.00) on shares of ConocoPhillips in a research report on Thursday, June 26th. Susquehanna dropped their target price on ConocoPhillips from $114.00 to $113.00 and set a “positive” rating for the company in a research report on Wednesday, July 23rd. Weiss Ratings restated a “hold (c-)” rating on shares of ConocoPhillips in a research report on Saturday, September 27th. Finally, Melius Research began coverage on ConocoPhillips in a research report on Wednesday, August 20th. They set a “hold” rating and a $117.00 price objective for the company. Sixteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $117.23.

ConocoPhillips Price Performance

ConocoPhillips stock opened at $95.18 on Monday. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $118.87 billion, a PE ratio of 12.78, a P/E/G ratio of 2.51 and a beta of 0.62. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $115.38. The stock has a 50-day moving average price of $94.83 and a two-hundred day moving average price of $92.75.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, beating the consensus estimate of $1.36 by $0.06. The firm had revenue of $14.94 billion during the quarter, compared to the consensus estimate of $14.39 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The business’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period last year, the company earned $1.98 earnings per share. Analysts expect that ConocoPhillips will post 8.16 EPS for the current year.

Institutional Investors Weigh In On ConocoPhillips

Several large investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. grew its stake in ConocoPhillips by 0.7% during the second quarter. Charles Schwab Investment Management Inc. now owns 40,382,724 shares of the energy producer’s stock worth $3,623,946,000 after purchasing an additional 287,970 shares during the period. Wellington Management Group LLP grew its stake in ConocoPhillips by 1.4% in the first quarter. Wellington Management Group LLP now owns 31,610,608 shares of the energy producer’s stock valued at $3,319,746,000 after acquiring an additional 437,709 shares during the period. Fisher Asset Management LLC grew its stake in ConocoPhillips by 1.6% in the second quarter. Fisher Asset Management LLC now owns 14,393,875 shares of the energy producer’s stock valued at $1,291,706,000 after acquiring an additional 224,201 shares during the period. Ameriprise Financial Inc. grew its stake in ConocoPhillips by 31.4% in the second quarter. Ameriprise Financial Inc. now owns 10,778,664 shares of the energy producer’s stock valued at $966,267,000 after acquiring an additional 2,575,803 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in ConocoPhillips by 30.2% in the first quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer’s stock valued at $942,297,000 after acquiring an additional 2,080,625 shares during the period. Institutional investors and hedge funds 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.