ConocoPhillips (NYSE:COP) Price Target Cut to $115.00 by Analysts at Piper Sandler

Key Points

• Analysts at **Piper Sandler** have lowered their price target for **ConocoPhillips (NYSE:COP)** from **$124.00 to $115.00**, while maintaining an "overweight" rating on the stock, indicating a potential upside of **31.14%** from its previous close.
• The stock has received mixed responses from other analysts, with **BMO Capital Markets** raising its target to **$117.00** and **Weiss Ratings** reaffirming a "hold (c-)" rating.
• ConocoPhillips recently announced better-than-expected earnings with an **EPS** of **$1.42** for the last quarter, surpassing analyst estimates, and reported a **year-over-year revenue increase** of **4.3%**.

ConocoPhillips (NYSE:COP - Get Free Report) had its price target dropped by equities researchers at Piper Sandler from $124.00 to $115.00 in a research report issued on Monday,MarketScreener reports. The firm currently has an "overweight" rating on the energy producer's stock. Piper Sandler's price objective points to a potential upside of 31.14% from the stock's previous close.

A number of other equities analysts also recently weighed in on the stock. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of ConocoPhillips in a research note on Wednesday, October 8th. BMO Capital Markets increased their price objective on shares of ConocoPhillips from $115.00 to $117.00 and gave the stock an "outperform" rating in a research report on Monday. Mizuho reduced their target price on shares of ConocoPhillips from $125.00 to $120.00 and set an "outperform" rating for the company in a report on Monday, September 15th. Raymond James Financial dropped their price objective on shares of ConocoPhillips from $117.00 to $115.00 and set an "outperform" rating on the stock in a research report on Monday, September 8th. Finally, Roth Capital reissued a "buy" rating on shares of ConocoPhillips in a report on Wednesday, September 3rd. Seventeen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $117.17.

ConocoPhillips Stock Down 1.2%

COP stock opened at $87.69 on Monday. The firm's 50-day moving average is $94.52 and its two-hundred day moving average is $92.35. The company has a market capitalization of $109.52 billion, a price-to-earnings ratio of 11.76, a price-to-earnings-growth 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. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $115.38.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its earnings results on Thursday, August 7th. The energy producer reported $1.42 EPS 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 analysts' expectations of $14.39 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The business's revenue for the quarter was up 4.3% on a year-over-year basis. During the same period last year, the company posted $1.98 earnings per share. On average, analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ConocoPhillips

Institutional investors have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted its position in ConocoPhillips by 14.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 269,154 shares of the energy producer's stock valued at $28,267,000 after purchasing an additional 34,284 shares during the period. Cyndeo Wealth Partners LLC boosted its position in shares of ConocoPhillips by 2.6% during the 1st quarter. Cyndeo Wealth Partners LLC now owns 6,816 shares of the energy producer's stock worth $716,000 after purchasing an additional 173 shares during the period. Brown Miller Wealth Management LLC acquired a new position in ConocoPhillips during the first quarter worth $240,000. Sagespring Wealth Partners LLC boosted its position in ConocoPhillips by 11.6% in the 1st quarter. Sagespring Wealth Partners LLC now owns 11,440 shares of the energy producer's stock valued at $1,201,000 after buying an additional 1,187 shares during the period. Finally, Grimes & Company Inc. raised its holdings in shares of ConocoPhillips by 1.8% in the 1st quarter. Grimes & Company Inc. now owns 12,529 shares of the energy producer's stock valued at $1,316,000 after purchasing an additional 219 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

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.

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.