ConocoPhillips (NYSE:COP) Price Target Lowered to $122.00 at UBS Group

Key Points

• UBS Group has lowered its price target for ConocoPhillips from $124.00 to $122.00, maintaining a "buy" rating, which suggests a potential upside of 39.12% from the stock's previous close.
• Wells Fargo upgraded its target price for ConocoPhillips to $117.00, while other firms have made various adjustments, indicating positive sentiment towards the stock overall.
• ConocoPhillips reported a $1.42 EPS for the last quarter, surpassing the consensus estimate, and showed a 4.3% increase in revenue compared to the same quarter last year.

ConocoPhillips (NYSE:COP - Get Free Report) had its price objective reduced by analysts at UBS Group from $124.00 to $122.00 in a report issued on Monday,MarketScreener reports. The firm presently has a "buy" rating on the energy producer's stock. UBS Group's price target would suggest a potential upside of 39.12% from the stock's previous close.

Several other brokerages also recently commented on COP. Wells Fargo & Company restated an "overweight" rating and issued a $117.00 target price (up previously from $113.00) on shares of ConocoPhillips in a research note on Thursday, June 26th. Susquehanna cut their target price on ConocoPhillips from $114.00 to $113.00 and set a "positive" rating for the company in a research note on Wednesday, July 23rd. Capital One Financial raised their target price on ConocoPhillips from $111.00 to $112.00 in a research note on Friday, October 3rd. Melius Research assumed coverage on ConocoPhillips in a research report on Wednesday, August 20th. They set a "hold" rating and a $117.00 price target for the company. Finally, Melius assumed coverage on ConocoPhillips in a research report on Wednesday, August 20th. They set a "hold" rating and a $117.00 price target for the company. Seventeen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $117.17.

ConocoPhillips Trading Down 1.2%

Shares of COP opened at $87.69 on Monday. The business has a 50-day moving average of $94.52 and a 200 day moving average of $92.35. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $115.38. The firm has a market cap of $109.52 billion, a P/E ratio of 11.76, a price-to-earnings-growth ratio of 2.33 and a beta of 0.62. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27.

ConocoPhillips (NYSE:COP - Get Free Report) last issued 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. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The business had revenue of $14.94 billion during the quarter, compared to the consensus estimate of $14.39 billion. During the same quarter last year, the company earned $1.98 EPS. The firm's revenue was up 4.3% compared to the same quarter last year. As a group, research analysts forecast that ConocoPhillips will post 8.16 EPS for the current year.

Hedge Funds Weigh In On ConocoPhillips

A number of large investors have recently bought and sold shares of the stock. PFW Advisors LLC purchased a new position in ConocoPhillips in the 3rd quarter worth approximately $256,000. Brighton Jones LLC increased its stake in shares of ConocoPhillips by 21.4% during the third quarter. Brighton Jones LLC now owns 23,752 shares of the energy producer's stock valued at $2,247,000 after buying an additional 4,190 shares during the period. Marion Wealth Management increased its stake in shares of ConocoPhillips by 1.6% during the third quarter. Marion Wealth Management now owns 16,707 shares of the energy producer's stock valued at $1,580,000 after buying an additional 266 shares during the period. Diversified Enterprises LLC increased its stake in shares of ConocoPhillips by 9.0% during the third quarter. Diversified Enterprises LLC now owns 3,184 shares of the energy producer's stock valued at $301,000 after buying an additional 262 shares during the period. Finally, Thomasville National Bank increased its stake in shares of ConocoPhillips by 5.6% during the third quarter. Thomasville National Bank now owns 10,109 shares of the energy producer's stock valued at $956,000 after buying an additional 536 shares during the period. 82.36% of the stock is owned by hedge funds and other institutional investors.

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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