ConocoPhillips (NYSE:COP) Price Target Raised to $130.00 at Truist Financial

ConocoPhillips (NYSE:COP) had its price objective boosted by investment analysts at Truist Financial from $115.00 to $130.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “hold” rating on the energy producer’s stock. Truist Financial’s target price suggests a potential upside of 6.23% from the company’s previous close.

A number of other equities research analysts also recently commented on COP. Capital One Financial reduced their price objective on shares of ConocoPhillips from $156.00 to $154.00 and set an “equal weight” rating for the company in a research report on Monday, May 18th. Mizuho cut their target price on ConocoPhillips from $150.00 to $146.00 and set an “outperform” rating for the company in a research note on Tuesday, July 7th. Zacks Research cut ConocoPhillips from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 27th. Sanford C. Bernstein lifted their price target on ConocoPhillips from $98.00 to $121.00 and gave the company an “outperform” rating in a research note on Monday, April 13th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $147.00 price objective on shares of ConocoPhillips in a report on Friday. Eighteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $137.04.

ConocoPhillips Stock Performance

ConocoPhillips stock traded up $4.77 during trading hours on Monday, reaching $122.38. 2,479,490 shares of the stock were exchanged, compared to its average volume of 8,518,950. ConocoPhillips has a 52-week low of $85.57 and a 52-week high of $135.87. The stock has a market cap of $147.02 billion, a P/E ratio of 16.18, a P/E/G ratio of 1.38 and a beta of 0.11. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.39 and a current ratio of 1.54. The firm’s 50 day moving average is $113.08 and its 200 day moving average is $115.73.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share for the quarter, beating the consensus estimate of $2.90 by $0.34. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The business had revenue of $19.52 billion for the quarter, compared to the consensus estimate of $18.79 billion. During the same quarter in the previous year, the firm earned $1.42 earnings per share. The business’s quarterly revenue was up 32.4% compared to the same quarter last year. Analysts predict that ConocoPhillips will post 9.44 EPS for the current fiscal year.

Institutional Investors Weigh In On ConocoPhillips

Institutional investors and hedge funds have recently modified their holdings of the company. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in ConocoPhillips during the fourth quarter worth $25,000. Strive Asset Management LLC acquired a new stake in ConocoPhillips in the third quarter valued at $28,000. Frazier Financial Advisors LLC increased its position in shares of ConocoPhillips by 151.0% in the first quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock valued at $32,000 after buying an additional 145 shares in the last quarter. Allied Private Wealth LLC acquired a new position in shares of ConocoPhillips during the 2nd quarter worth $32,000. Finally, BNP Paribas acquired a new position in shares of ConocoPhillips during the 2nd quarter worth $33,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Company Profile

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.