Evercore ISI Has Lowered Expectations for ConocoPhillips (NYSE:COP) Stock Price

Key Points

• Evercore ISI has revised its price target for ConocoPhillips from $115.00 to $111.00, while maintaining an "outperform" rating, suggesting a potential upside of 17.87% from the stock's previous close.
• Multiple analysts have updated their ratings on ConocoPhillips, with Piper Sandler raising their target to $124.00 and Morgan Stanley maintaining a target of $123.00, both giving the stock an "overweight" rating.
• ConocoPhillips reported earnings of $1.42 per share for the last quarter, exceeding estimates, with a revenue of $14.94 billion, marking a year-over-year increase of 4.3%.

ConocoPhillips (NYSE:COP - Get Free Report) had its price target dropped by equities researchers at Evercore ISI from $115.00 to $111.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an "outperform" rating on the energy producer's stock. Evercore ISI's price target would suggest a potential upside of 17.87% from the stock's previous close.

COP has been the topic of several other research reports. Piper Sandler upped their target price on shares of ConocoPhillips from $123.00 to $124.00 and gave the stock an "overweight" rating in a research note on Monday, August 18th. Morgan Stanley reissued an "overweight" rating and issued a $123.00 target price (up previously from $119.00) on shares of ConocoPhillips in a report on Sunday, August 10th. Wall Street Zen upgraded ConocoPhillips from a "sell" rating to a "hold" rating in a research note on Saturday, September 20th. Royal Bank Of Canada reduced their price objective on ConocoPhillips from $115.00 to $113.00 and set an "outperform" rating for the company in a report on Friday, July 11th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of ConocoPhillips in a research note on Saturday, September 27th. Sixteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $117.32.

ConocoPhillips Price Performance

Shares of COP stock opened at $94.17 on Monday. The business's fifty day moving average is $94.92 and its 200 day moving average is $92.79. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. The stock has a market cap of $117.61 billion, a price-to-earnings ratio of 12.64, a PEG ratio of 2.49 and a beta of 0.62. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $116.08.

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

Institutional Trading of ConocoPhillips

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Howard Hughes Medical Institute purchased a new stake in ConocoPhillips in the 2nd quarter worth approximately $25,000. Bogart Wealth LLC raised its holdings in ConocoPhillips by 136.8% during the second quarter. Bogart Wealth LLC now owns 315 shares of the energy producer's stock valued at $28,000 after acquiring an additional 182 shares during the period. Activest Wealth Management lifted its position in shares of ConocoPhillips by 249.5% in the second quarter. Activest Wealth Management now owns 325 shares of the energy producer's stock valued at $29,000 after acquiring an additional 232 shares in the last quarter. Financial Network Wealth Advisors LLC lifted its position in shares of ConocoPhillips by 341.5% in 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. Finally, Stone House Investment Management LLC bought a new position in shares of ConocoPhillips in the first quarter worth about $31,000. Hedge funds and other institutional investors own 82.36% of the company's stock.

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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