ConocoPhillips (NYSE:COP) Stock Rating Raised to Strong-Buy at Zacks Research

Key Points

• Zacks Research upgraded ConocoPhillips to “strong buy” from “hold,” while the broader analyst consensus remains “moderate buy” with an average price target of $143.29.
• ConocoPhillips exceeded quarterly expectations, reporting $3.24 in EPS versus a $2.90 estimate and $19.52 billion in revenue, up 32.4% year over year.
• Shares opened at $129.85, near their 50-day moving average, while institutional investors own 82.36% of the stock; an SVP separately sold roughly $1.28 million of shares.

ConocoPhillips (NYSE:COP - Get Free Report) was upgraded by stock analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research report issued on Tuesday, Zacks reports.

A number of other research analysts have also recently weighed in on COP. Susquehanna lifted their price target on shares of ConocoPhillips from $155.00 to $161.00 and gave the company a "positive" rating in a research report on Tuesday, August 11th. Wells Fargo & Company raised their price objective on ConocoPhillips from $183.00 to $189.00 and gave the company an "overweight" rating in a research note on Friday, August 7th. Morgan Stanley upped their target price on ConocoPhillips from $147.00 to $151.00 and gave the company an "overweight" rating in a research report on Wednesday, August 19th. Barclays reduced their target price on ConocoPhillips from $155.00 to $150.00 and set an "overweight" rating for the company in a research note on Monday, August 17th. Finally, Royal Bank Of Canada set a $130.00 price target on shares of ConocoPhillips in a research report on Monday, June 22nd. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, ConocoPhillips has an average rating of "Moderate Buy" and a consensus target price of $143.29.

ConocoPhillips Stock Up 0.4%

COP opened at $129.85 on Tuesday. The stock has a market capitalization of $156.00 billion, a price-to-earnings ratio of 17.18, a price-to-earnings-growth ratio of 1.35 and a beta of 0.24. ConocoPhillips has a 12 month low of $85.57 and a 12 month high of $141.62. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.54 and a quick ratio of 1.39. The business has a 50-day moving average of $129.08 and a two-hundred day moving average of $121.91.

ConocoPhillips (NYSE:COP - Get Free Report) last released its earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.90 by $0.34. The business had revenue of $19.52 billion for the quarter, compared to analysts' expectations of $18.79 billion. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The company's quarterly revenue was up 32.4% on a year-over-year basis. During the same period last year, the company earned $1.42 earnings per share. On average, research analysts expect that ConocoPhillips will post 10.62 earnings per share for the current year.

Insider Activity at ConocoPhillips

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

Hedge Funds Weigh In On ConocoPhillips

Several large investors have recently added to or reduced their stakes in COP. Venture Visionary Partners LLC increased its stake in ConocoPhillips by 263.6% during the third quarter. Venture Visionary Partners LLC now owns 118,655 shares of the energy producer's stock valued at $14,850,000 after purchasing an additional 86,019 shares during the last quarter. KFA Private Wealth Group LLC bought a new position in shares of ConocoPhillips in the 3rd quarter worth about $220,000. Elevation Wealth Partners LLC lifted its position in shares of ConocoPhillips by 130.0% in the 3rd quarter. Elevation Wealth Partners LLC now owns 920 shares of the energy producer's stock worth $115,000 after buying an additional 520 shares during the last quarter. Retirement Wealth Solutions LLC boosted its holdings in shares of ConocoPhillips by 162.0% in the 3rd quarter. Retirement Wealth Solutions LLC now owns 642 shares of the energy producer's stock valued at $80,000 after buying an additional 397 shares during the period. Finally, Cooper Financial Group grew its position in shares of ConocoPhillips by 55.9% during the 3rd quarter. Cooper Financial Group now owns 11,635 shares of the energy producer's stock valued at $1,456,000 after buying an additional 4,172 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips News Roundup

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: ConocoPhillips signed a 20-year agreement to purchase 1 million tons of LNG annually from Venture Global beginning in 2030. The deal expands COP’s long-term natural-gas exposure and could strengthen future cash-flow visibility, although the benefits are several years away. ConocoPhillips Could Be 11% Undervalued Following New 20 Year LNG Deal
• Positive Sentiment: COP is reportedly reviewing the sale of its Norway business and the UK Teesside asset for approximately $7 billion. A transaction could improve capital flexibility, simplify the portfolio and potentially support shareholder returns. ConocoPhillips Reviews Norway Business and UK Teesside Asset Divestment
• Positive Sentiment: Mizuho reiterated a Buy rating and set a $146 NAV-based price target, citing near-term earnings strength and longer-term LNG-driven cash-flow potential. The target implies meaningful upside from the stock’s recent level. Mizuho Reiterates Buy on ConocoPhillips With $146 Price Target
• Positive Sentiment: ConocoPhillips’ chairman said the oil-price floor could rise toward $70 per barrel, a constructive view for upstream producers such as COP if sustained. Oil Price Floor Likely Rising to $70 per Barrel
• Neutral Sentiment: Research reports comparing COP with Cactus and Calumet focus on relative valuation and sector performance rather than announcing a new fundamental development. COP’s strong year-to-date performance may limit the immediate impact of these reports.
• Neutral Sentiment: Management said greater political stability and fair fiscal terms would be needed to attract investors back to Venezuela and Russia, highlighting potential longer-term opportunities but no immediate earnings catalyst. Stability and Fair Fiscal Terms Needed for Investors to Return

About ConocoPhillips

ConocoPhillips NYSE: COP is an independent exploration and production company engaged in finding, developing and producing crude oil, natural gas, natural gas liquids and liquefied natural gas. Unlike integrated energy companies, ConocoPhillips focuses primarily on upstream activities rather than refining and retail fuel operations.

The company has a diversified portfolio of assets in major producing regions, including the United States, Canada, Australia, Norway and Qatar. Its U.S. operations include oil and gas developments in Alaska and the Lower 48 states, while its international portfolio includes conventional and offshore projects.

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