ConocoPhillips (NYSE:COP) Price Target Raised to $161.00

ConocoPhillips (NYSE:COP) had its price target hoisted by research analysts at Jefferies Financial Group from $160.00 to $161.00 in a research report issued on Monday,MarketScreener reports. The firm presently has a “buy” rating on the energy producer’s stock. Jefferies Financial Group’s target price would suggest a potential upside of 32.80% from the company’s current price.

A number of other equities analysts have also recently commented on the company. Susquehanna lifted their price target on ConocoPhillips from $149.00 to $152.00 in a report on Friday, May 1st. Wolfe Research boosted their target price on ConocoPhillips from $138.00 to $144.00 and gave the stock an “outperform” rating in a report on Monday, April 6th. Citigroup raised their price target on ConocoPhillips from $135.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, April 2nd. Truist Financial set a $128.00 price objective on shares of ConocoPhillips in a report on Friday, May 1st. Finally, Piper Sandler raised their target price on shares of ConocoPhillips from $154.00 to $157.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 8th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $133.12.

ConocoPhillips Price Performance

Shares of COP opened at $121.24 on Monday. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.34. ConocoPhillips has a twelve month low of $84.28 and a twelve month high of $135.87. The stock has a market capitalization of $147.70 billion, a P/E ratio of 20.56, a P/E/G ratio of 1.41 and a beta of 0.14. The company has a 50 day moving average of $123.07 and a 200-day moving average of $106.37.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.17. The company had revenue of $15.76 billion during the quarter, compared to the consensus estimate of $15.62 billion. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The company’s quarterly revenue was down 6.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.09 EPS. As a group, equities research analysts forecast that ConocoPhillips will post 9.66 EPS for the current fiscal year.

Insider Transactions at ConocoPhillips

In related news, CEO Ryan Michael Lance sold 506,800 shares of the firm’s stock in a transaction that occurred on Friday, March 20th. The shares were sold at an average price of $127.26, for a total value of $64,495,368.00. Following the completion of the transaction, the chief executive officer owned 6,835 shares in the company, valued at $869,822.10. This trade represents a 98.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Timothy A. Leach sold 40,000 shares of the company’s stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $118.79, for a total transaction of $4,751,600.00. Following the completion of the transaction, the director owned 411,211 shares of the company’s stock, valued at approximately $48,847,754.69. This trade represents a 8.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 734,891 shares of company stock valued at $93,345,692. 0.09% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Copley Financial Group Inc. acquired a new position in shares of ConocoPhillips in the 1st quarter worth approximately $471,000. Clough Capital Partners L P acquired a new stake in shares of ConocoPhillips during the first quarter worth $2,945,000. SummitTX Capital L.P. bought a new position in ConocoPhillips during the first quarter worth $717,000. Gateway Wealth Partners LLC bought a new position in shares of ConocoPhillips in the 1st quarter worth about $1,380,000. Finally, Weiss Asset Management LP acquired a new position in shares of ConocoPhillips in the 1st quarter valued at about $11,128,000. 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.