BMO Capital Markets Has Lowered Expectations for ConocoPhillips (NYSE:COP) Stock Price

ConocoPhillips (NYSE:COP) had its price objective decreased by analysts at BMO Capital Markets from $110.00 to $105.00 in a note issued to investors on Monday,MarketScreener reports. The brokerage currently has an “outperform” rating on the energy producer’s stock. BMO Capital Markets’ price objective points to a potential upside of 13.45% from the company’s current price.

A number of other research analysts also recently commented on COP. Barclays dropped their price target on ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating for the company in a research note on Tuesday, October 7th. Roth Capital cut their price target on shares of ConocoPhillips from $108.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, October 15th. Melius initiated coverage on shares of ConocoPhillips in a research report on Wednesday, August 20th. They set a “hold” rating and a $117.00 price objective for the company. Raymond James Financial dropped their price objective on ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating for the company in a research report on Monday, September 8th. Finally, Wolfe Research reaffirmed an “outperform” rating and set a $131.00 target price on shares of ConocoPhillips in a research note on Thursday, November 6th. Nineteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and an average price target of $114.08.

ConocoPhillips Trading Down 1.9%

Shares of ConocoPhillips stock opened at $92.55 on Monday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.18 and a current ratio of 1.32. The firm has a 50-day moving average of $89.56 and a 200-day moving average of $92.23. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $106.20. The stock has a market cap of $114.36 billion, a PE ratio of 13.09, a PEG ratio of 2.16 and a beta of 0.32.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, November 6th. The energy producer reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.20. The business had revenue of $15.03 billion during the quarter, compared to analysts’ expectations of $14.51 billion. ConocoPhillips had a return on equity of 13.64% and a net margin of 14.25%.The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.78 earnings per share. As a group, sell-side analysts forecast that ConocoPhillips will post 8.16 EPS for the current year.

Insider Buying and Selling at ConocoPhillips

In other news, Director William H. Mcraven bought 5,768 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The shares were acquired at an average price of $86.68 per share, for a total transaction of $499,970.24. Following the completion of the acquisition, the director directly owned 5,768 shares in the company, valued at approximately $499,970.24. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.24% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ConocoPhillips

Institutional investors and hedge funds have recently made changes to their positions in the business. Capital International Investors grew its position in shares of ConocoPhillips by 18.2% during the 3rd quarter. Capital International Investors now owns 45,645,397 shares of the energy producer’s stock worth $4,318,239,000 after buying an additional 7,037,873 shares during the period. Charles Schwab Investment Management Inc. boosted 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 acquiring an additional 287,970 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of ConocoPhillips by 1.8% during the third quarter. Fisher Asset Management LLC now owns 14,653,966 shares of the energy producer’s stock valued at $1,386,119,000 after purchasing an additional 260,091 shares during the period. Ameriprise Financial Inc. raised its stake in shares of ConocoPhillips by 20.6% in the third quarter. Ameriprise Financial Inc. now owns 12,994,674 shares of the energy producer’s stock worth $1,228,886,000 after purchasing an additional 2,216,010 shares during the last quarter. Finally, Primecap Management Co. CA lifted its stake in ConocoPhillips by 31.3% during the 3rd quarter. Primecap Management Co. CA now owns 10,351,010 shares of the energy producer’s stock valued at $979,102,000 after acquiring an additional 2,467,555 shares in the last quarter. 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.