ConocoPhillips (NYSE:COP) Coverage Initiated by Analysts at Melius

Key Points

• Analysts at Melius have initiated coverage on ConocoPhillips with a "hold" rating and set a price target of $117.00, indicating a potential upside of 24.92% from the current price.
• Other analysts, including Morgan Stanley and Wells Fargo, have issued "overweight" ratings with target prices of $123.00 and $117.00 respectively, while Citigroup has lowered its target to $115.00.
• ConocoPhillips reported $1.42 earnings per share for the last quarter, surpassing expectations, with a revenue increase of 4.3% year-over-year.

Analysts at Melius began coverage on shares of ConocoPhillips (NYSE:COP - Get Free Report) in a research note issued on Wednesday,Briefing.com Automated Import reports. The brokerage set a "hold" rating and a $117.00 price target on the energy producer's stock. Melius' target price would suggest a potential upside of 24.92% from the company's current price.

Other equities analysts have also recently issued reports about the stock. Morgan Stanley restated an "overweight" rating and issued a $123.00 price target (up from $119.00) on shares of ConocoPhillips in a research report on Sunday, August 10th. Wells Fargo & Company reissued an "overweight" rating and set a $117.00 target price (up from $113.00) on shares of ConocoPhillips in a research note on Thursday, June 26th. Citigroup lowered their price objective on shares of ConocoPhillips from $140.00 to $115.00 and set a "buy" rating on the stock in a report on Wednesday, June 11th. UBS Group upped their price objective on shares of ConocoPhillips from $111.00 to $115.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Finally, Susquehanna lowered their target price on shares of ConocoPhillips from $114.00 to $113.00 and set a "positive" rating for the company in a report on Wednesday, July 23rd. Sixteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, ConocoPhillips has an average rating of "Moderate Buy" and a consensus price target of $120.70.

ConocoPhillips Stock Performance

Shares of COP stock opened at $93.6590 on Wednesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27. The company has a market capitalization of $116.97 billion, a price-to-earnings ratio of 12.57, a PEG ratio of 2.45 and a beta of 0.67. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $116.08. The company has a 50-day simple moving average of $93.78 and a 200 day simple moving average of $93.32.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.36 by $0.06. The firm had revenue of $14.94 billion during the quarter, compared to the consensus estimate of $14.39 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The business's revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.98 EPS. On average, sell-side analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Kirk L. Johnson purchased 5,300 shares of the business's stock in a transaction that occurred on Monday, June 16th. The shares were acquired at an average price of $94.24 per share, for a total transaction of $499,472.00. Following the completion of the acquisition, the executive vice president directly owned 14,527 shares in the company, valued at approximately $1,369,024.48. The trade was a 57.44% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.24% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ConocoPhillips

A number of hedge funds have recently bought and sold shares of COP. Howard Hughes Medical Institute purchased a new position in ConocoPhillips in the 2nd quarter worth about $25,000. 10Elms LLP purchased a new position in ConocoPhillips in the 4th quarter worth about $28,000. Bogart Wealth LLC increased its position in shares of ConocoPhillips by 136.8% during the 2nd quarter. Bogart Wealth LLC now owns 315 shares of the energy producer's stock valued at $28,000 after purchasing an additional 182 shares during the last quarter. Activest Wealth Management increased its position in shares of ConocoPhillips by 249.5% during the 2nd quarter. Activest Wealth Management now owns 325 shares of the energy producer's stock valued at $29,000 after purchasing an additional 232 shares during the last quarter. Finally, Financial Network Wealth Advisors LLC increased its position in shares of ConocoPhillips by 341.5% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer's stock valued at $30,000 after purchasing an additional 222 shares during the last quarter. Institutional investors 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.

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