ConocoPhillips (NYSE:COP) Price Target Lowered to $98.00 at Sanford C. Bernstein

ConocoPhillips (NYSE:COP) had its price target dropped by equities researchers at Sanford C. Bernstein from $116.00 to $98.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the energy producer’s stock. Sanford C. Bernstein’s target price would suggest a potential downside of 2.86% from the stock’s previous close.

A number of other equities analysts have also weighed in on COP. Wall Street Zen raised ConocoPhillips from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Royal Bank Of Canada upped their price target on ConocoPhillips from $113.00 to $118.00 and gave the stock an “outperform” rating in a research note on Monday, October 13th. Evercore ISI reduced their price objective on shares of ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating on the stock in a research report on Monday, October 6th. Jefferies Financial Group restated a “buy” rating on shares of ConocoPhillips in a research report on Monday, December 15th. Finally, JPMorgan Chase & Co. cut their target price on shares of ConocoPhillips from $112.00 to $102.00 and set an “overweight” rating for the company in a research note on Monday, December 8th. Nineteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $113.38.

ConocoPhillips Stock Performance

COP opened at $100.89 on Monday. The company has a current ratio of 1.32, a quick ratio of 1.18 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $106.20. The company has a market cap of $124.67 billion, a price-to-earnings ratio of 14.47, a PEG ratio of 2.58 and a beta of 0.32. The company’s 50 day moving average is $90.68 and its 200 day moving average is $92.48.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, November 6th. The energy producer reported $1.61 EPS for the quarter, topping analysts’ consensus estimates 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 business’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.78 earnings per share. On average, equities research analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

Insider Activity

In related news, Director William H. Mcraven purchased 5,768 shares of the firm’s stock in a transaction dated Monday, November 10th. The stock was purchased at an average price of $86.68 per share, with a total value of $499,970.24. Following the completion of the purchase, the director owned 5,768 shares of the company’s stock, valued at approximately $499,970.24. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Ryan Michael Lance sold 500,708 shares of the stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $92.50, for a total value of $46,315,490.00. Following the completion of the transaction, the chief executive officer directly owned 325,972 shares in the company, valued at approximately $30,152,410. This trade represents a 60.57% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.24% of the company’s stock.

Institutional Investors Weigh In On ConocoPhillips

Hedge funds have recently made changes to their positions in the company. Howard Hughes Medical Institute bought a new position in ConocoPhillips during the 2nd quarter worth about $25,000. Cloud Capital Management LLC bought a new position in shares of ConocoPhillips during the third quarter valued at approximately $26,000. Strive Asset Management LLC bought a new stake in ConocoPhillips during the 3rd quarter valued at $28,000. Bogart Wealth LLC increased its holdings in shares of ConocoPhillips by 136.8% in the 2nd quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock valued at $28,000 after acquiring an additional 182 shares during the period. Finally, Cedar Mountain Advisors LLC raised its position in shares of ConocoPhillips by 58.0% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 316 shares of the energy producer’s stock worth $30,000 after acquiring an additional 116 shares in the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

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.