ConocoPhillips (NYSE:COP) Coverage Initiated by Analysts at Stifel Nicolaus

Key Points

• Stifel Nicolaus initiated coverage of ConocoPhillips with a “hold” rating and a $148 price target, implying 8.28% upside from the prior close.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $140.60; recent targets range as high as $161.
• ConocoPhillips reported stronger-than-expected quarterly results, with EPS of $3.24 versus the $2.90 estimate and revenue up 32.4% year over year to $19.52 billion. The stock opened at $136.69, near its 52-week high.

Stock analysts at Stifel Nicolaus initiated coverage on shares of ConocoPhillips (NYSE:COP - Get Free Report) in a research note issued to investors on Thursday, FinViz reports. The brokerage set a "hold" rating and a $148.00 price target on the energy producer's stock. Stifel Nicolaus' price objective suggests a potential upside of 8.28% from the company's previous close.

Other equities analysts also recently issued research reports about the company. Roth Capital raised ConocoPhillips from a "neutral" rating to a "buy" rating and boosted their target price for the company from $124.00 to $130.00 in a research report on Monday, June 22nd. UBS Group boosted their target price on shares of ConocoPhillips from $143.00 to $153.00 and gave the stock a "buy" rating in a report on Wednesday, August 12th. Royal Bank Of Canada set a $130.00 price objective on ConocoPhillips in a research report on Monday, June 22nd. Susquehanna boosted their target price on shares of ConocoPhillips from $155.00 to $161.00 and gave the stock a "positive" rating in a research report on Tuesday, August 11th. Finally, Freedom Capital upgraded ConocoPhillips from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $140.60.

ConocoPhillips Stock Up 1.2%

COP stock opened at $136.69 on Thursday. The company has a current ratio of 1.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.35. The company's 50 day moving average is $122.04 and its 200 day moving average is $120.02. The stock has a market cap of $164.21 billion, a price-to-earnings ratio of 18.08, a price-to-earnings-growth ratio of 1.42 and a beta of 0.13. ConocoPhillips has a 1-year low of $85.57 and a 1-year high of $137.87.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $18.79 billion. During the same period in the previous year, the business posted $1.42 earnings per share. ConocoPhillips's revenue for the quarter was up 32.4% on a year-over-year basis. Sell-side analysts predict that ConocoPhillips will post 10.54 EPS for the current fiscal year.

Insider Activity at ConocoPhillips

In other news, SVP Andrew Lundquist sold 9,487 shares of the company's stock in a transaction on Friday, August 21st. The shares were sold at an average price of $135.15, for a total value of $1,282,168.05. Following the sale, the senior vice president directly owned 9,593 shares of the company's stock, valued at approximately $1,296,493.95. This 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. Corporate insiders own 0.09% of the company's stock.

Hedge Funds Weigh In On ConocoPhillips

A number of institutional investors and hedge funds have recently modified their holdings of COP. B. Metzler seel. Sohn & Co. AG acquired a new position in shares of ConocoPhillips during the 2nd quarter worth approximately $6,896,000. Qsemble Capital Management LP bought a new stake in shares of ConocoPhillips in the second quarter valued at approximately $3,645,000. Nicholas Investment Partners LP acquired a new stake in shares of ConocoPhillips during the 2nd quarter worth $6,498,000. Northwestern Mutual Wealth Management Co. grew its stake in ConocoPhillips by 255.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,857,206 shares of the energy producer's stock worth $173,853,000 after buying an additional 1,334,687 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its stake in ConocoPhillips by 3,112.4% in the second quarter. Caitong International Asset Management Co. Ltd now owns 17,604 shares of the energy producer's stock valued at $1,830,000 after acquiring an additional 17,056 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors.

About ConocoPhillips

ConocoPhillips NYSE: COP is an independent exploration and production company engaged primarily in finding, developing and producing crude oil, natural gas and natural gas liquids. The company sells its production to refiners, utilities, industrial customers and other energy market participants.

Its portfolio includes conventional and unconventional assets, with operations and development activities in the United States, including Alaska and the Lower 48, as well as Canada, Australia, Norway, Qatar and other international locations.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.