Susquehanna Cuts ConocoPhillips (NYSE:COP) Price Target to $113.00

ConocoPhillips (NYSE:COP - Get Free Report) had its price objective reduced by stock analysts at Susquehanna from $114.00 to $113.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a "positive" rating on the energy producer's stock. Susquehanna's price objective indicates a potential upside of 19.00% from the stock's current price.

A number of other research analysts have also commented on COP. Morgan Stanley restated an "overweight" rating and issued a $119.00 target price on shares of ConocoPhillips in a research note on Tuesday, July 15th. Scotiabank upped their target price on ConocoPhillips from $95.00 to $100.00 and gave the company a "sector perform" rating in a research note on Friday, July 11th. Barclays cut their target price on ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Royal Bank Of Canada cut their target price on ConocoPhillips from $115.00 to $113.00 and set an "outperform" rating for the company in a research note on Friday, July 11th. Finally, Raymond James Financial increased their price objective on ConocoPhillips from $109.00 to $117.00 and gave the stock an "outperform" rating in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, ConocoPhillips presently has a consensus rating of "Moderate Buy" and an average target price of $121.33.

ConocoPhillips Stock Performance

Shares of COP stock traded down $0.66 during trading hours on Wednesday, reaching $94.96. 4,498,087 shares of the company's stock were exchanged, compared to its average volume of 8,262,428. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $116.08. The stock has a market capitalization of $120.04 billion, a P/E ratio of 12.07, a P/E/G ratio of 2.47 and a beta of 0.61. The business has a fifty day moving average price of $91.09 and a 200-day moving average price of $94.43. The company has a quick ratio of 1.13, a current ratio of 1.27 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its earnings results on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, beating analysts' consensus estimates of $2.05 by $0.04. The business had revenue of $16.18 billion during the quarter, compared to analyst estimates of $15.74 billion. ConocoPhillips had a return on equity of 16.54% and a net margin of 16.02%. During the same period in the prior year, the company posted $2.05 earnings per share. Analysts predict that ConocoPhillips will post 8.16 EPS for the current fiscal year.

Insider Activity

In related news, EVP Kirk L. Johnson bought 5,300 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was bought at an average cost of $94.24 per share, for a total transaction of $499,472.00. Following the transaction, the executive vice president owned 14,527 shares of the company's stock, valued at $1,369,024.48. This represents a 57.44% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.24% of the company's stock.

Hedge Funds Weigh In On ConocoPhillips

Several institutional investors have recently modified their holdings of the business. Verdence Capital Advisors LLC lifted its holdings in shares of ConocoPhillips by 1.5% during the 2nd quarter. Verdence Capital Advisors LLC now owns 33,461 shares of the energy producer's stock valued at $3,003,000 after purchasing an additional 505 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of ConocoPhillips by 16.4% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 155,394 shares of the energy producer's stock valued at $13,945,000 after purchasing an additional 21,940 shares in the last quarter. Vest Financial LLC lifted its holdings in shares of ConocoPhillips by 39.3% during the 2nd quarter. Vest Financial LLC now owns 22,866 shares of the energy producer's stock valued at $2,052,000 after purchasing an additional 6,448 shares in the last quarter. MGO One Seven LLC lifted its holdings in shares of ConocoPhillips by 8.0% during the 2nd quarter. MGO One Seven LLC now owns 23,222 shares of the energy producer's stock valued at $2,084,000 after purchasing an additional 1,728 shares in the last quarter. Finally, Bill Few Associates Inc. lifted its holdings in shares of ConocoPhillips by 45.8% during the 2nd quarter. Bill Few Associates Inc. now owns 4,653 shares of the energy producer's stock valued at $418,000 after purchasing an additional 1,462 shares in 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.