ConocoPhillips (NYSE:COP) Stock Gets Price Target Bump from Barclays

Key Points

• Barclays raised its ConocoPhillips price target to $165 from $150 and maintained an “overweight” rating, implying about 16% upside from the prior close.
• Analyst sentiment is broadly positive: MarketBeat’s consensus rating is “Moderate Buy,” with a $145.31 average price target, though recommendations range from Strong Buy to Sell.
• ConocoPhillips beat quarterly expectations, reporting EPS of $3.27 versus $3.05 forecast and revenue of $19.43 billion versus $18.59 billion; revenue increased 29.2% year over year.

ConocoPhillips (NYSE:COP - Get Free Report) had its price target lifted by analysts at Barclays from $150.00 to $165.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has an "overweight" rating on the energy producer's stock. Barclays's price target would suggest a potential upside of 15.99% from the stock's previous close.

COP has been the subject of several other research reports. Stifel Nicolaus assumed coverage on ConocoPhillips in a research note on Thursday, September 10th. They issued a "hold" rating and a $148.00 price target for the company. Morgan Stanley increased their target price on ConocoPhillips from $151.00 to $159.00 and gave the company an "overweight" rating in a research report on Thursday, October 15th. Wells Fargo & Company dropped their price target on shares of ConocoPhillips from $189.00 to $185.00 and set an "overweight" rating on the stock in a research note on Friday, November 6th. Mizuho set a $149.00 price objective on shares of ConocoPhillips in a research report on Thursday, November 5th. Finally, Sanford C. Bernstein downgraded shares of ConocoPhillips from an "outperform" rating to a "market perform" rating and decreased their price objective for the company from $129.00 to $122.00 in a report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $145.31.

ConocoPhillips Price Performance

Shares of COP stock traded up $2.19 during trading hours on Friday, hitting $142.25. The stock had a trading volume of 1,034,219 shares, compared to its average volume of 7,948,209. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.52 and a quick ratio of 1.37. ConocoPhillips has a one year low of $85.70 and a one year high of $154.28. The stock's 50-day moving average price is $137.15 and its two-hundred day moving average price is $122.89. The stock has a market capitalization of $168.19 billion, a price-to-earnings ratio of 14.92, a PEG ratio of 1.26 and a beta of 0.16.

ConocoPhillips (NYSE:COP - Get Free Report) last released its earnings results on Thursday, November 5th. The energy producer reported $3.27 earnings per share for the quarter, beating the consensus estimate of $3.05 by $0.22. The firm had revenue of $19.43 billion for the quarter, compared to the consensus estimate of $18.59 billion. ConocoPhillips had a return on equity of 17.60% and a net margin of 16.55%. The company's revenue for the quarter was up 29.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.61 EPS. Equities analysts forecast that ConocoPhillips will post 12.13 EPS for the current year.

Insider Activity

In other news, SVP Andrew Lundquist sold 9,487 shares of the business's stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $135.15, for a total transaction of $1,282,168.05. Following the completion of the transaction, the senior vice president directly owned 9,593 shares of the company's stock, valued at approximately $1,296,493.95. The trade was a 49.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.09% of the company's stock.

Hedge Funds Weigh In On ConocoPhillips

Hedge funds and other institutional investors have recently bought and sold shares of the company. Carolina Wealth Advisors LLC acquired a new stake in ConocoPhillips in the third quarter valued at $28,000. Frazier Financial Advisors LLC grew its stake in shares of ConocoPhillips by 151.0% during the 1st 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 position in shares of ConocoPhillips in the 3rd quarter valued at about $34,000. Ballast Advisors LLC purchased a new position in shares of ConocoPhillips in the 1st quarter valued at about $36,000. Finally, Evergreen Advisors LLC acquired a new stake in shares of ConocoPhillips in the first quarter valued at about $36,000. 82.36% of the stock is currently 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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