ConocoPhillips (NYSE:COP) Given New $118.00 Price Target at Royal Bank Of Canada

Key Points

• Royal Bank of Canada increased ConocoPhillips' price target from $113.00 to $118.00, indicating a potential upside of 34.10% from the stock's previous close.
• Several analysts have rated ConocoPhillips stock as "outperform," with a consensus target price of $117.65, reflecting strong market interest.
• ConocoPhillips reported $1.42 EPS in its latest quarterly earnings, surpassing analysts' expectations of $1.36, with revenue up by 4.3% year-over-year.

ConocoPhillips (NYSE:COP - Get Free Report) had its price target increased by analysts at Royal Bank Of Canada from $113.00 to $118.00 in a research note issued on Monday,MarketScreener reports. The firm presently has an "outperform" rating on the energy producer's stock. Royal Bank Of Canada's price target would suggest a potential upside of 34.10% from the stock's previous close.

A number of other equities research analysts also recently issued reports on COP. BMO Capital Markets increased their price target on shares of ConocoPhillips from $115.00 to $117.00 and gave the stock an "outperform" rating in a report on Monday. Raymond James Financial lowered their price objective on ConocoPhillips from $117.00 to $115.00 and set an "outperform" rating on the stock in a research report on Monday, September 8th. Barclays decreased their target price on ConocoPhillips from $122.00 to $118.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 7th. Evercore ISI dropped their price target on ConocoPhillips from $115.00 to $111.00 and set an "outperform" rating for the company in a research report on Monday, October 6th. Finally, Capital One Financial raised 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 five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $117.65.

ConocoPhillips Price Performance

ConocoPhillips stock opened at $87.99 on Monday. The company has a market cap of $109.90 billion, a price-to-earnings ratio of 11.84, a PEG ratio of 2.33 and a beta of 0.62. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. The business's 50 day simple moving average is $94.60 and its 200 day simple moving average is $92.44. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $115.38.

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

Institutional Trading of ConocoPhillips

Several large investors have recently bought and sold shares of the company. Howard Hughes Medical Institute bought a new stake in ConocoPhillips in the 2nd quarter worth approximately $25,000. Financial Network Wealth Advisors LLC grew its stake in ConocoPhillips by 341.5% during the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer's stock valued at $30,000 after acquiring an additional 222 shares in the last quarter. Stone House Investment Management LLC bought a new stake in ConocoPhillips in the 1st quarter worth approximately $31,000. Bogart Wealth LLC increased its holdings in shares of ConocoPhillips by 136.8% in the 2nd quarter. Bogart Wealth LLC now owns 315 shares of the energy producer's stock worth $28,000 after buying an additional 182 shares during the last quarter. Finally, Activest Wealth Management lifted its stake in shares of ConocoPhillips by 249.5% in 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. 82.36% of the stock is owned by institutional investors.

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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