ConocoPhillips (NYSE:COP) Price Target Raised to $145.00 at Raymond James Financial

Key Points

• Raymond James raised its price target on ConocoPhillips to $145 (from $118) and kept an "outperform" rating, implying about a 17.88% upside from the current share price.
• Analyst views are mixed but skew positive: the consensus rating is "Moderate Buy" with an average price target of $132.44 (1 Strong Buy, 16 Buy, 9 Hold, 1 Sell).
• ConocoPhillips recently missed quarterly estimates (EPS $1.02 vs. $1.23; revenue down 3.7% YoY) and insiders sold roughly 734,891 shares (~$93.3M) last quarter, while institutional investors own about 82.36% of the stock.

ConocoPhillips (NYSE:COP - Get Free Report) had its price objective boosted by equities research analysts at Raymond James Financial from $118.00 to $145.00 in a research report issued on Monday,MarketScreener reports. The brokerage presently has an "outperform" rating on the energy producer's stock. Raymond James Financial's price objective suggests a potential upside of 17.88% from the company's current price.

A number of other research firms have also commented on COP. Wells Fargo & Company lifted their price target on shares of ConocoPhillips from $132.00 to $133.00 and gave the company an "overweight" rating in a research report on Friday, February 6th. Piper Sandler increased their target price on ConocoPhillips from $154.00 to $157.00 and gave the company an "overweight" rating in a research note on Wednesday, April 8th. Bank of America restated an "underperform" rating and issued a $102.00 price objective on shares of ConocoPhillips in a research note on Friday, January 16th. Citigroup lifted their price objective on ConocoPhillips from $135.00 to $150.00 and gave the stock a "buy" rating in a report on Thursday, April 2nd. Finally, JPMorgan Chase & Co. raised their target price on ConocoPhillips from $98.00 to $103.00 and gave the stock a "neutral" rating in a research report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, ConocoPhillips presently has an average rating of "Moderate Buy" and a consensus price target of $132.44.

ConocoPhillips Trading Up 1.0%

NYSE:COP opened at $123.01 on Monday. The stock has a market cap of $149.93 billion, a price-to-earnings ratio of 19.18, a PEG ratio of 2.33 and a beta of 0.19. The business has a fifty day moving average of $121.02 and a 200-day moving average of $103.43. ConocoPhillips has a 1 year low of $84.28 and a 1 year high of $135.87. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.14 and a current ratio of 1.30.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly earnings data on Thursday, February 5th. The energy producer reported $1.02 EPS for the quarter, missing analysts' consensus estimates of $1.23 by ($0.21). ConocoPhillips had a net margin of 12.98% and a return on equity of 11.90%. The company had revenue of $13.86 billion for the quarter, compared to analyst estimates of $14.35 billion. During the same quarter last year, the company posted $1.98 EPS. ConocoPhillips's revenue was down 3.7% on a year-over-year basis. Equities analysts predict that ConocoPhillips will post 7.3 earnings per share for the current year.

Insider Buying and Selling at ConocoPhillips

In related news, SVP Andrew D. Lundquist sold 34,500 shares of the company's stock in a transaction on Friday, March 13th. The shares were sold at an average price of $119.68, for a total value of $4,128,960.00. Following the completion of the transaction, the senior vice president directly owned 17,469 shares of the company's stock, valued at approximately $2,090,689.92. This represents a 66.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ryan Michael Lance sold 113,221 shares of the business's stock in a transaction that occurred on Tuesday, March 31st. The shares were sold at an average price of $132.71, for a total value of $15,025,558.91. Following the completion of the sale, the chief executive officer owned 350,000 shares in the company, valued at $46,448,500. The trade was a 24.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 734,891 shares of company stock valued at $93,345,692 over the last quarter. 0.09% of the stock is currently owned by corporate insiders.

Institutional Trading of ConocoPhillips

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of ConocoPhillips by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 120,251,183 shares of the energy producer's stock worth $11,256,713,000 after buying an additional 408,304 shares during the last quarter. Capital International Investors boosted its stake in shares of ConocoPhillips by 5.9% in the 4th quarter. Capital International Investors now owns 48,360,060 shares of the energy producer's stock valued at $4,527,230,000 after purchasing an additional 2,714,663 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of ConocoPhillips by 6.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 41,450,162 shares of the energy producer's stock valued at $3,880,151,000 after purchasing an additional 2,350,645 shares during the last quarter. Franklin Resources Inc. lifted its stake in ConocoPhillips by 4.5% in the 4th quarter. Franklin Resources Inc. now owns 15,038,675 shares of the energy producer's stock valued at $1,407,770,000 after purchasing an additional 648,432 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its position in ConocoPhillips by 1.3% in the fourth quarter. Fisher Asset Management LLC now owns 14,847,367 shares of the energy producer's stock valued at $1,389,862,000 after buying an additional 193,401 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company's stock.

About ConocoPhillips

ConocoPhillips NYSE: COP is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company's activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.

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