Jefferies Financial Group Has Lowered Expectations for ConocoPhillips (NYSE:COP) Stock Price

Key Points

• Jefferies Financial Group has reduced its price target for ConocoPhillips (NYSE:COP) from $129.00 to $120.00, while maintaining a "buy" rating, indicating a potential upside of 36.37% from the current stock price.
• Other analysts have varied their price targets, with Capital One Financial increasing its target to $112.00 and Raymond James reducing it to $115.00, highlighting a range of opinions on the stock's performance.
• ConocoPhillips reported earnings of $1.42 per share for the last quarter, exceeding analyst expectations and marking a 4.3% revenue increase compared to the same quarter last year.

ConocoPhillips (NYSE:COP - Get Free Report) had its price objective cut by equities researchers at Jefferies Financial Group from $129.00 to $120.00 in a report released on Monday,MarketScreener reports. The brokerage currently has a "buy" rating on the energy producer's stock. Jefferies Financial Group's price target would suggest a potential upside of 36.37% from the company's current price.

Several other research analysts also recently commented on COP. Capital One Financial lifted their target price on shares of ConocoPhillips from $111.00 to $112.00 in a research note on Friday, October 3rd. Raymond James Financial decreased their target price on shares of ConocoPhillips from $117.00 to $115.00 and set an "outperform" rating for the company in a report on Monday, September 8th. Morgan Stanley reiterated an "overweight" rating and set a $123.00 price target (up previously from $119.00) on shares of ConocoPhillips in a report on Sunday, August 10th. Susquehanna decreased their price objective on shares of ConocoPhillips from $114.00 to $113.00 and set a "positive" rating for the company in a report on Wednesday, July 23rd. Finally, Wells Fargo & Company reissued an "overweight" rating and issued a $117.00 target price (up previously from $113.00) on shares of ConocoPhillips in a report on Thursday, June 26th. Seventeen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, ConocoPhillips currently has an average rating of "Moderate Buy" and an average target price of $117.65.

ConocoPhillips Price Performance

Shares of NYSE COP opened at $87.99 on Monday. 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 has a fifty-two week low of $79.88 and a fifty-two week high of $115.38. The stock has a market cap of $109.90 billion, a PE ratio of 11.84, a price-to-earnings-growth ratio of 2.33 and a beta of 0.62. The stock has a fifty day moving average of $94.60 and a 200-day moving average of $92.44.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Howard Hughes Medical Institute purchased a new position in shares of ConocoPhillips in the second quarter valued at $25,000. Financial Network Wealth Advisors LLC lifted its holdings in shares of ConocoPhillips by 341.5% in the 1st 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 during the last quarter. Stone House Investment Management LLC purchased a new position in ConocoPhillips in the first quarter worth about $31,000. Bogart Wealth LLC raised its position 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 purchasing an additional 182 shares during the period. Finally, Activest Wealth Management lifted its stake in shares of ConocoPhillips by 249.5% in the 2nd quarter. Activest Wealth Management now owns 325 shares of the energy producer's stock valued at $29,000 after purchasing an additional 232 shares during the last quarter. 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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