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ConocoPhillips (NYSE:COP) Given New $130.00 Price Target at Wolfe Research

ConocoPhillips logo with Energy background

Key Points

  • Wolfe Research has lowered its price target for ConocoPhillips from $137.00 to $130.00, while maintaining an "outperform" rating, suggesting a potential upside of 50.07% from the current stock price.
  • Several other analysts have adjusted their price targets for the stock, with UBS Group and Morgan Stanley both reducing their targets and maintaining "buy" ratings.
  • ConocoPhillips reported earnings of $1.42 per share for the last quarter, exceeding estimates and indicating a year-over-year revenue increase of 4.3% to $14.94 billion.
  • Interested in ConocoPhillips? Here are five stocks we like better.

ConocoPhillips (NYSE:COP - Get Free Report) had its price target dropped by equities research analysts at Wolfe Research from $137.00 to $130.00 in a research note issued on Monday,MarketScreener reports. The firm presently has an "outperform" rating on the energy producer's stock. Wolfe Research's price objective would suggest a potential upside of 50.07% from the stock's current price.

Other analysts have also recently issued research reports about the company. UBS Group cut their target price on ConocoPhillips from $124.00 to $122.00 and set a "buy" rating on the stock in a research report on Monday, October 13th. Capital One Financial lifted their price objective on ConocoPhillips from $111.00 to $112.00 in a report on Friday, October 3rd. The Goldman Sachs Group lowered their price objective on ConocoPhillips from $111.00 to $108.00 and set a "buy" rating on the stock in a report on Friday. Morgan Stanley lowered their price objective on ConocoPhillips from $123.00 to $122.00 and set an "overweight" rating on the stock in a report on Tuesday, October 14th. Finally, Melius assumed coverage on ConocoPhillips in a report on Wednesday, August 20th. They issued a "hold" rating and a $117.00 price objective on the stock. Eighteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, ConocoPhillips currently has an average rating of "Moderate Buy" and a consensus price target of $115.63.

Get Our Latest Stock Report on COP

ConocoPhillips Stock Up 0.2%

ConocoPhillips stock opened at $86.62 on Monday. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $115.38. The stock's fifty day simple moving average is $94.04 and its 200-day simple moving average is $91.91. 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 firm has a market capitalization of $108.19 billion, a P/E ratio of 11.64, a P/E/G ratio of 2.29 and a beta of 0.62.

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 for the quarter, topping analysts' consensus estimates of $1.36 by $0.06. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The business had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.39 billion. During the same quarter in the prior year, the company earned $1.98 earnings per share. The company's revenue was up 4.3% on a year-over-year basis. As a group, equities analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Tripletail Wealth Management LLC acquired a new position in ConocoPhillips in the 3rd quarter valued at $158,000. Austin Private Wealth LLC grew its stake in shares of ConocoPhillips by 6.3% during the 3rd quarter. Austin Private Wealth LLC now owns 10,377 shares of the energy producer's stock valued at $982,000 after buying an additional 617 shares during the period. Range Financial Group LLC grew its stake in shares of ConocoPhillips by 3.9% during the 3rd quarter. Range Financial Group LLC now owns 3,677 shares of the energy producer's stock valued at $348,000 after buying an additional 139 shares during the period. HM Payson & Co. grew its stake in shares of ConocoPhillips by 37.2% during the 3rd quarter. HM Payson & Co. now owns 36,657 shares of the energy producer's stock valued at $3,467,000 after buying an additional 9,948 shares during the period. Finally, Norris Perne & French LLP MI grew its stake in shares of ConocoPhillips by 4.6% during the 3rd quarter. Norris Perne & French LLP MI now owns 4,643 shares of the energy producer's stock valued at $439,000 after buying an additional 205 shares during the period. 82.36% of the stock is currently owned by institutional investors and hedge funds.

About ConocoPhillips

(Get Free Report)

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.

See Also

Analyst Recommendations for ConocoPhillips (NYSE:COP)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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