ConocoPhillips (NYSE:COP) Downgraded by Wall Street Zen to "Sell"

Key Points

• ConocoPhillips was downgraded from a "hold" to a "sell" rating by Wall Street Zen, reflecting a shift in analysts' outlook on the stock.
• BMO Capital Markets raised their target price to $117.00 while other analysts adjusted their estimates, indicating mixed sentiment among experts.
• ConocoPhillips' stock is currently valued at around $86.53, with a market cap of $108.07 billion and a recent earnings report showing a net margin of 15.26%.

ConocoPhillips (NYSE:COP - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Saturday.

Other research analysts have also issued research reports about the stock. BMO Capital Markets increased their target price on shares of ConocoPhillips from $115.00 to $117.00 and gave the stock an "outperform" rating in a research note on Monday, October 13th. Raymond James Financial lowered their target price on shares of ConocoPhillips from $117.00 to $115.00 and set an "outperform" rating for the company in a research note on Monday, September 8th. Piper Sandler lowered their target price on shares of ConocoPhillips from $124.00 to $115.00 and set an "overweight" rating for the company in a research note on Monday, October 13th. Melius Research began coverage on shares of ConocoPhillips in a research note on Wednesday, August 20th. They set a "hold" rating and a $117.00 target price for the company. Finally, Capital One Financial increased their target price on shares of ConocoPhillips from $111.00 to $112.00 in a research note on Friday, October 3rd. Seventeen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, ConocoPhillips currently has a consensus rating of "Moderate Buy" and a consensus target price of $115.00.

ConocoPhillips Price Performance

ConocoPhillips stock opened at $86.53 on Friday. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $115.38. The stock has a market cap of $108.07 billion, a P/E ratio of 11.61, a PEG ratio of 2.33 and a beta of 0.62. The company has a 50-day moving average price of $94.04 and a 200 day moving average price of $92.03. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in COP. Charles Schwab Investment Management Inc. boosted its stake in shares of ConocoPhillips by 379.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer's stock valued at $4,210,751,000 after purchasing an additional 31,736,423 shares during the period. Nuveen LLC acquired a new stake in ConocoPhillips in the first quarter valued at approximately $658,981,000. Primecap Management Co. CA raised its holdings in ConocoPhillips by 66.0% in the second quarter. Primecap Management Co. CA now owns 7,883,455 shares of the energy producer's stock valued at $707,461,000 after acquiring an additional 3,135,315 shares in the last quarter. AQR Capital Management LLC raised its holdings in ConocoPhillips by 190.5% in the first quarter. AQR Capital Management LLC now owns 4,664,408 shares of the energy producer's stock valued at $484,539,000 after acquiring an additional 3,058,505 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in ConocoPhillips by 31.4% in the second quarter. Ameriprise Financial Inc. now owns 10,778,664 shares of the energy producer's stock valued at $966,267,000 after acquiring an additional 2,575,803 shares in the last quarter. Hedge funds and other 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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