ConocoPhillips (NYSE:COP) Stock Gets Price Target Increase from Susquehanna

ConocoPhillips (NYSE:COP) had its price objective boosted by equities research analysts at Susquehanna from $161.00 to $175.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “positive” rating on the energy producer’s stock. Susquehanna’s price objective points to a potential upside of 20.41% from the company’s current price.

A number of other analysts have also commented on the company. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $157.00 price target on shares of ConocoPhillips in a research note on Tuesday. Royal Bank Of Canada set a $130.00 target price on ConocoPhillips in a report on Monday, June 22nd. Wall Street Zen upgraded shares of ConocoPhillips from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Wells Fargo & Company lifted their price objective on ConocoPhillips from $183.00 to $189.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Finally, UBS Group increased their price target on ConocoPhillips from $153.00 to $169.00 and gave the company a “buy” rating in a report on Monday, September 14th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.00.

ConocoPhillips Stock Down 0.8%

Shares of NYSE:COP opened at $145.34 on Tuesday. ConocoPhillips has a one year low of $85.57 and a one year high of $146.70. The firm has a fifty day moving average price of $132.56 and a two-hundred day moving average price of $122.46. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.54 and a quick ratio of 1.39. The company has a market cap of $174.60 billion, a price-to-earnings ratio of 19.22, a PEG ratio of 1.45 and a beta of 0.24.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, August 6th. The energy producer reported $3.24 EPS for the quarter, topping analysts’ consensus estimates of $2.90 by $0.34. The firm had revenue of $19.52 billion for the quarter, compared to analyst estimates of $18.79 billion. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The business’s revenue for the quarter was up 32.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.42 EPS. Analysts anticipate that ConocoPhillips will post 11.19 EPS for the current fiscal year.

Insider Activity at ConocoPhillips

In other ConocoPhillips news, SVP Andrew Lundquist sold 9,487 shares of the firm’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $135.15, for a total transaction of $1,282,168.05. Following the transaction, the senior vice president directly owned 9,593 shares in the company, valued at $1,296,493.95. This trade represents a 49.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.09% of the company’s stock.

Institutional Trading of ConocoPhillips

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp raised its stake in ConocoPhillips by 73.2% during the second quarter. State Street Corp now owns 118,591,447 shares of the energy producer’s stock worth $12,328,767,000 after purchasing an additional 50,116,727 shares during the period. Bank of America Corp DE acquired a new stake in shares of ConocoPhillips during the 2nd quarter worth $1,260,482,000. Primecap Management Co. CA purchased a new position in shares of ConocoPhillips in the 2nd quarter worth $1,204,726,000. Assenagon Asset Management S.A. raised its position in shares of ConocoPhillips by 1,181.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 8,172,490 shares of the energy producer’s stock worth $1,022,787,000 after buying an additional 7,534,536 shares during the period. Finally, Legal & General Group Plc acquired a new position in ConocoPhillips in the second quarter valued at $716,151,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

About ConocoPhillips

ConocoPhillips (NYSE:COP) is an independent exploration and production company engaged in finding, developing and producing oil, natural gas and natural gas liquids. Unlike integrated energy companies, it primarily focuses on upstream activities rather than operating large refining or retail fuel businesses.

The company’s portfolio includes conventional and unconventional oil and natural gas assets, liquefied natural gas-related interests, oil sands operations and other energy resources.