Susquehanna Forecasts Strong Price Appreciation for ConocoPhillips (NYSE:COP) Stock

ConocoPhillips (NYSE:COP) had its target price increased by research analysts at Susquehanna from $121.00 to $149.00 in a research report issued on Tuesday,MarketScreener reports. The firm currently has a “positive” rating on the energy producer’s stock. Susquehanna’s price target suggests a potential upside of 27.51% from the company’s previous close.

Several other equities research analysts also recently issued reports on COP. Weiss Ratings reiterated a “hold (c-)” rating on shares of ConocoPhillips in a report on Monday, December 29th. JPMorgan Chase & Co. upped their target price on shares of ConocoPhillips from $98.00 to $103.00 and gave the stock a “neutral” rating in a research note on Friday, February 6th. Barclays upped their price objective on ConocoPhillips from $118.00 to $128.00 and gave the stock an “overweight” rating in a research report on Monday, March 16th. BMO Capital Markets upped their price target on ConocoPhillips from $130.00 to $140.00 and gave the stock an “outperform” rating in a report on Tuesday, April 7th. Finally, Piper Sandler increased their price target on ConocoPhillips from $154.00 to $157.00 and gave the company an “overweight” rating in a research report on Wednesday, April 8th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, ConocoPhillips has an average rating of “Moderate Buy” and an average target price of $130.36.

ConocoPhillips Trading Up 0.4%

NYSE COP opened at $116.86 on Tuesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.30 and a quick ratio of 1.14. The stock has a market capitalization of $142.43 billion, a P/E ratio of 18.44, a PEG ratio of 2.09 and a beta of 0.19. The firm’s 50-day moving average is $120.06 and its two-hundred day moving average is $102.65. ConocoPhillips has a 12 month low of $84.28 and a 12 month high of $135.87.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, February 5th. The energy producer reported $1.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.21). The company had revenue of $13.86 billion during the quarter, compared to analysts’ expectations of $14.35 billion. ConocoPhillips had a net margin of 12.98% and a return on equity of 11.90%. ConocoPhillips’s revenue was down 3.7% on a year-over-year basis. During the same period last year, the firm posted $1.98 earnings per share. On average, sell-side analysts anticipate that ConocoPhillips will post 7.77 earnings per share for the current year.

Insider Buying and Selling at ConocoPhillips

In related news, EVP Nicholas G. Olds sold 6,994 shares of the company’s stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $127.06, for a total value of $888,657.64. Following the completion of the sale, the executive vice president owned 5,395 shares in the company, valued at $685,488.70. This represents a 56.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Andrew D. Lundquist sold 34,500 shares of the firm’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $119.68, for a total transaction of $4,128,960.00. Following the transaction, the senior vice president directly owned 17,469 shares in the company, valued at $2,090,689.92. The trade was a 66.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 734,891 shares of company stock valued at $93,345,692. 0.09% of the stock is owned by insiders.

Hedge Funds Weigh In On ConocoPhillips

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. raised its stake in ConocoPhillips by 0.4% during the 1st quarter. Blue Trust Inc. now owns 21,144 shares of the energy producer’s stock valued at $2,791,000 after acquiring an additional 92 shares during the last quarter. Nicolet Advisory Services LLC grew its stake in shares of ConocoPhillips by 0.9% in the 4th quarter. Nicolet Advisory Services LLC now owns 10,352 shares of the energy producer’s stock valued at $989,000 after purchasing an additional 95 shares during the last quarter. Duncan Williams Asset Management LLC increased its holdings in shares of ConocoPhillips by 4.4% in the fourth quarter. Duncan Williams Asset Management LLC now owns 2,370 shares of the energy producer’s stock valued at $222,000 after purchasing an additional 100 shares during the period. Wedge Capital Management L L P NC increased its holdings in shares of ConocoPhillips by 4.1% in the fourth quarter. Wedge Capital Management L L P NC now owns 2,570 shares of the energy producer’s stock valued at $241,000 after purchasing an additional 101 shares during the period. Finally, Strategic Blueprint LLC raised its stake in shares of ConocoPhillips by 1.3% during the fourth quarter. Strategic Blueprint LLC now owns 8,018 shares of the energy producer’s stock worth $751,000 after purchasing an additional 101 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

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.