ConocoPhillips (NYSE:COP) Rating Lowered to "Hold" at Freedom Broker

Key Points

• Freedom Broker downgraded ConocoPhillips from “buy” to “hold,” setting a $138 price target—about 1.76% above the current share price. Overall, analysts still rate the stock a “Moderate Buy,” with an average target of $145.
• ConocoPhillips reported quarterly EPS of $3.27, beating the $3.05 consensus estimate, while revenue rose 29.2% year over year to $19.43 billion.
• An executive vice president sold 9,487 shares, reducing his direct holdings by 49.72%; company insiders collectively own 0.09% of shares.

ConocoPhillips (NYSE:COP - Get Free Report) was downgraded by equities research analysts at Freedom Broker from a "buy" rating to a "hold" rating in a research note issued on Wednesday, Briefing.com reports. They currently have a $138.00 price objective on the energy producer's stock. Freedom Broker's target price points to a potential upside of 1.76% from the company's current price.

Several other research firms also recently weighed in on COP. Piper Sandler initiated coverage on shares of ConocoPhillips in a report on Tuesday, October 27th. They issued a "neutral" rating and a $157.00 target price for the company. The Goldman Sachs Group restated a "buy" rating and set a $157.00 price target on shares of ConocoPhillips in a research note on Tuesday, October 20th. Morgan Stanley raised their price target on ConocoPhillips from $151.00 to $159.00 and gave the stock an "overweight" rating in a research report on Thursday, October 15th. Raymond James Financial reaffirmed an "outperform" rating and issued a $170.00 price objective on shares of ConocoPhillips in a research note on Monday, November 2nd. Finally, Weiss Ratings upgraded ConocoPhillips from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $145.00.

ConocoPhillips Trading Up 0.9%

Shares of COP stock opened at $135.61 on Wednesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.52 and a quick ratio of 1.37. The firm has a market cap of $160.34 billion, a PE ratio of 14.25, a price-to-earnings-growth ratio of 1.24 and a beta of 0.16. The company has a 50-day moving average of $137.06 and a two-hundred day moving average of $122.49. ConocoPhillips has a 1-year low of $85.70 and a 1-year high of $154.28.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly earnings results on Thursday, November 5th. The energy producer reported $3.27 earnings per share for the quarter, beating analysts' consensus estimates of $3.05 by $0.22. ConocoPhillips had a net margin of 16.55% and a return on equity of 17.60%. The business had revenue of $19.43 billion during the quarter, compared to analysts' expectations of $18.59 billion. During the same period last year, the business earned $1.61 earnings per share. The business's revenue for the quarter was up 29.2% on a year-over-year basis. On average, analysts predict that ConocoPhillips will post 12.03 EPS for the current year.

Insider Buying and Selling at ConocoPhillips

In related news, SVP Andrew Lundquist sold 9,487 shares of the company's stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $135.15, for a total transaction of $1,282,168.05. Following the sale, the senior vice president directly owned 9,593 shares in the company, valued at approximately $1,296,493.95. This represents a 49.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.09% of the company's stock.

Institutional Investors Weigh In On ConocoPhillips

Several institutional investors have recently modified their holdings of COP. Carolina Wealth Advisors LLC acquired a new position in ConocoPhillips in the third quarter valued at approximately $28,000. Frazier Financial Advisors LLC lifted its holdings in shares of ConocoPhillips by 151.0% during the first quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer's stock worth $32,000 after purchasing an additional 145 shares during the period. William Mack & Associates Inc. purchased a new stake in shares of ConocoPhillips in the third quarter valued at about $34,000. Ballast Advisors LLC purchased a new stake in ConocoPhillips in the 1st quarter valued at approximately $36,000. Finally, Evergreen Advisors LLC acquired a new position in ConocoPhillips during the first quarter worth $36,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Company Profile

ConocoPhillips is an independent exploration and production company focused on finding, developing and producing oil and natural gas. Its products include crude oil, natural gas, liquefied natural gas and natural gas liquids. The company operates in several regions, including North America, Europe, the Middle East, North Africa and the Asia-Pacific. Its activities span exploration, development and production, with a portfolio that includes both conventional and unconventional resources. ConocoPhillips was formed in 2002 through the merger of Conoco and Phillips Petroleum.

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