ConocoPhillips (NYSE:COP) Given New $115.00 Price Target at UBS Group

ConocoPhillips (NYSE:COP - Get Free Report) had its target price lifted by investment analysts at UBS Group from $111.00 to $115.00 in a report issued on Friday,Benzinga reports. The firm presently has a "buy" rating on the energy producer's stock. UBS Group's price objective indicates a potential upside of 19.82% from the stock's previous close.

A number of other research firms have also recently issued reports on COP. Piper Sandler lifted their target price on shares of ConocoPhillips from $107.00 to $113.00 and gave the company an "overweight" rating in a research note on Wednesday, July 2nd. Bank of America lowered their target price on shares of ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating on the stock in a research note on Friday, May 23rd. Mizuho dropped their target price on shares of ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Citigroup lowered their price objective on shares of ConocoPhillips from $140.00 to $115.00 and set a "buy" rating for the company in a research note on Wednesday, June 11th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and issued a $117.00 target price (up from $113.00) on shares of ConocoPhillips in a report on Thursday, June 26th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $122.15.

ConocoPhillips Price Performance

COP traded up $0.61 on Friday, reaching $95.98. The company had a trading volume of 2,675,925 shares, compared to its average volume of 7,632,793. The company has a market capitalization of $121.33 billion, a P/E ratio of 12.19, a PEG ratio of 2.55 and a beta of 0.61. The company has a fifty day moving average of $90.50 and a 200-day moving average of $94.78. The company has a current ratio of 1.27, a quick ratio of 1.13 and a debt-to-equity ratio of 0.36. ConocoPhillips has a one year low of $79.88 and a one year high of $118.40.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.04. ConocoPhillips had a return on equity of 16.54% and a net margin of 16.02%. The company had revenue of $16.18 billion for the quarter, compared to analysts' expectations of $15.74 billion. During the same quarter in the previous year, the firm earned $2.05 earnings per share. As a group, equities research analysts anticipate 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 firm's stock in a transaction on Monday, June 16th. The shares were 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 directly owned 14,527 shares of the company's stock, valued at approximately $1,369,024.48. This trade represents a 57.44% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.24% of the company's stock.

Institutional Trading of ConocoPhillips

A number of large investors have recently added to or reduced their stakes in COP. Price T Rowe Associates Inc. MD boosted its holdings in ConocoPhillips by 13.8% during the 4th 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 acquiring an additional 5,549,078 shares during the last quarter. Elevation Point Wealth Partners LLC increased its position in shares of ConocoPhillips by 83.0% in the first quarter. Elevation Point Wealth Partners LLC now owns 18,060 shares of the energy producer's stock worth $1,897,000 after purchasing an additional 8,189 shares during the last quarter. Schwartz Investment Counsel Inc. increased its position in shares of ConocoPhillips by 159.6% in the first quarter. Schwartz Investment Counsel Inc. now owns 48,800 shares of the energy producer's stock worth $5,125,000 after purchasing an additional 30,000 shares during the last quarter. Hennessy Advisors Inc. grew its position in ConocoPhillips by 151.1% during the first quarter. Hennessy Advisors Inc. now owns 91,224 shares of the energy producer's stock valued at $9,580,000 after acquiring an additional 54,900 shares during the last quarter. Finally, ORG Wealth Partners LLC grew its position in ConocoPhillips by 853.3% during the first quarter. ORG Wealth Partners LLC now owns 6,616 shares of the energy producer's stock valued at $698,000 after acquiring an additional 5,922 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company's stock.

About ConocoPhillips

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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