Citigroup Lowers ConocoPhillips (NYSE:COP) Price Target to $115.00

ConocoPhillips (NYSE:COP - Get Free Report) had its price target decreased by Citigroup from $140.00 to $115.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the energy producer's stock. Citigroup's price target would indicate a potential upside of 22.22% from the company's previous close.

Other equities analysts also recently issued research reports about the company. Scotiabank cut their target price on ConocoPhillips from $115.00 to $95.00 and set a "sector perform" rating for the company in a research report on Friday, April 11th. Royal Bank of Canada cut their price target on shares of ConocoPhillips from $120.00 to $115.00 and set an "outperform" rating for the company in a report on Friday, May 30th. JPMorgan Chase & Co. cut their price target on shares of ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. UBS Group cut their target price on shares of ConocoPhillips from $116.00 to $111.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Finally, Piper Sandler cut their target price on shares of ConocoPhillips from $114.00 to $107.00 and set an "overweight" rating for the company in a research note on Tuesday, May 13th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, ConocoPhillips currently has an average rating of "Moderate Buy" and an average price target of $121.30.

ConocoPhillips Stock Performance

Shares of COP traded up $0.74 during mid-day trading on Wednesday, hitting $94.09. The company's stock had a trading volume of 4,484,817 shares, compared to its average volume of 7,428,564. ConocoPhillips has a one year low of $79.88 and a one year high of $118.40. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29. The firm has a market capitalization of $118.95 billion, a PE ratio of 12.08, a price-to-earnings-growth ratio of 0.79 and a beta of 0.61. The stock's 50-day moving average is $88.44 and its two-hundred day moving average is $96.09.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, beating analysts' consensus estimates of $2.05 by $0.04. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. The firm had revenue of $16.18 billion during the quarter, compared to the consensus estimate of $15.74 billion. During the same period in the prior year, the firm earned $2.05 EPS. As a group, sell-side analysts anticipate that ConocoPhillips will post 8.16 EPS for the current year.

Institutional Trading of ConocoPhillips

A number of institutional investors have recently bought and sold shares of COP. Price T Rowe Associates Inc. MD grew its stake in shares of ConocoPhillips by 13.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer's stock worth $4,546,706,000 after purchasing an additional 5,549,078 shares during the period. Leavell Investment Management Inc. grew its position in shares of ConocoPhillips by 59.8% during the 4th quarter. Leavell Investment Management Inc. now owns 19,166 shares of the energy producer's stock worth $1,901,000 after buying an additional 7,174 shares during the period. Asset Management One Co. Ltd. grew its position in shares of ConocoPhillips by 11.7% during the 4th quarter. Asset Management One Co. Ltd. now owns 519,371 shares of the energy producer's stock worth $50,345,000 after buying an additional 54,196 shares during the period. New York State Teachers Retirement System grew its position in shares of ConocoPhillips by 7.4% during the 4th quarter. New York State Teachers Retirement System now owns 1,170,901 shares of the energy producer's stock worth $116,118,000 after buying an additional 80,199 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund grew its holdings in ConocoPhillips by 26.2% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 43,384 shares of the energy producer's stock valued at $4,302,000 after purchasing an additional 9,002 shares during the period. Institutional investors and hedge funds own 82.36% of the company's stock.

ConocoPhillips Company Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.