ConocoPhillips (NYSE:COP) Price Target Raised to $144.00 at Wolfe Research

ConocoPhillips (NYSE:COP) had its target price hoisted by analysts at Wolfe Research from $138.00 to $144.00 in a research note issued to investors on Monday,MarketScreener reports. The brokerage currently has an “outperform” rating on the energy producer’s stock. Wolfe Research’s price target points to a potential upside of 10.15% from the company’s previous close.

Several other research analysts have also recently weighed in on the company. Roth Mkm cut ConocoPhillips from a “buy” rating to a “neutral” rating and set a $112.00 price objective on the stock. in a research report on Tuesday, February 17th. The Goldman Sachs Group raised their price target on shares of ConocoPhillips from $115.00 to $120.00 and gave the company a “buy” rating in a report on Friday, February 6th. JPMorgan Chase & Co. upped their price target on shares of ConocoPhillips from $98.00 to $103.00 and gave the stock a “neutral” rating in a report on Friday, February 6th. Wells Fargo & Company lifted their price objective on ConocoPhillips from $132.00 to $133.00 and gave the company an “overweight” rating in a research note on Friday, February 6th. Finally, Barclays upped their target price on ConocoPhillips from $118.00 to $128.00 and gave the stock an “overweight” rating in a research note on Monday, March 16th. One 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 assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $125.20.

ConocoPhillips Stock Performance

Shares of NYSE COP opened at $130.73 on Monday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.14 and a current ratio of 1.30. The stock has a 50 day moving average price of $115.93 and a 200 day moving average price of $100.48. The stock has a market capitalization of $159.34 billion, a PE ratio of 20.62, a price-to-earnings-growth ratio of 2.53 and a beta of 0.19. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $135.87.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, February 5th. The energy producer reported $1.02 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.21). ConocoPhillips had a return on equity of 11.90% and a net margin of 12.98%.The business had revenue of $13.86 billion for the quarter, compared to the consensus estimate of $14.35 billion. During the same quarter in the prior year, the firm posted $1.98 earnings per share. The business’s revenue was down 3.7% compared to the same quarter last year. Analysts predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Kelly Brunetti Rose sold 7,700 shares of the company’s stock in a transaction dated Tuesday, March 24th. The shares were sold at an average price of $130.03, for a total value of $1,001,231.00. Following the transaction, the senior vice president directly owned 25,284 shares in the company, valued at approximately $3,287,678.52. This represents a 23.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Ryan Michael Lance sold 113,221 shares of ConocoPhillips stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $132.71, for a total transaction of $15,025,558.91. Following the sale, the chief executive officer owned 350,000 shares of the company’s stock, valued at $46,448,500. The trade was a 24.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 734,891 shares of company stock worth $93,345,692 in the last three months. Corporate insiders own 0.24% of the company’s stock.

Institutional Trading of ConocoPhillips

Institutional investors and hedge funds have recently bought and sold shares of the business. Capital International Investors increased its position in shares of ConocoPhillips by 18.2% in the third quarter. Capital International Investors now owns 45,645,397 shares of the energy producer’s stock valued at $4,318,239,000 after buying an additional 7,037,873 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in ConocoPhillips by 31.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 10,778,664 shares of the energy producer’s stock worth $966,267,000 after acquiring an additional 2,575,803 shares in the last quarter. AQR Capital Management LLC raised its position in ConocoPhillips by 229.2% during the fourth quarter. AQR Capital Management LLC now owns 3,595,177 shares of the energy producer’s stock worth $336,544,000 after acquiring an additional 2,503,156 shares during the period. Primecap Management Co. CA grew its position in shares of ConocoPhillips by 31.3% in the third quarter. Primecap Management Co. CA now owns 10,351,010 shares of the energy producer’s stock valued at $979,102,000 after purchasing an additional 2,467,555 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of ConocoPhillips by 6.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 41,450,162 shares of the energy producer’s stock valued at $3,880,151,000 after acquiring an additional 2,350,645 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

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.