JPMorgan Chase & Co. Issues Positive Forecast for ConocoPhillips (NYSE:COP) Stock Price

Key Points

• JPMorgan Chase & Co. has raised its target price for ConocoPhillips to $115.00, indicating a potential upside of 23.21% from the current stock price.
• Analysts have given ConocoPhillips a consensus rating of "Moderate Buy" with a consensus target price of $117.23, supported by multiple firms adjusting their ratings.
• ConocoPhillips reported earnings of $1.42 EPS for the last quarter, exceeding consensus estimates significantly, with a revenue of $14.94 billion.

ConocoPhillips (NYSE:COP - Get Free Report) had its target price lifted by investment analysts at JPMorgan Chase & Co. from $114.00 to $115.00 in a report issued on Thursday,MarketScreener reports. The firm currently has an "overweight" rating on the energy producer's stock. JPMorgan Chase & Co.'s price target indicates a potential upside of 23.21% from the company's current price.

COP has been the topic of several other reports. Wall Street Zen raised ConocoPhillips from a "sell" rating to a "hold" rating in a research report on Saturday, September 20th. BMO Capital Markets lifted their price target on ConocoPhillips from $113.00 to $115.00 and gave the stock an "outperform" rating in a research report on Monday, September 22nd. Roth Capital reaffirmed a "buy" rating on shares of ConocoPhillips in a research report on Wednesday, September 3rd. Barclays lowered their price objective on ConocoPhillips from $122.00 to $118.00 and set an "overweight" rating on the stock in a research report on Tuesday. Finally, Citigroup lowered their price objective on ConocoPhillips from $140.00 to $115.00 and set a "buy" rating on the stock in a research report on Wednesday, June 11th. Sixteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, ConocoPhillips has a consensus rating of "Moderate Buy" and a consensus target price of $117.23.

ConocoPhillips Stock Performance

Shares of COP stock traded down $0.42 during trading on Thursday, reaching $93.34. The company had a trading volume of 536,653 shares, compared to its average volume of 7,781,769. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10. The firm's 50 day simple moving average is $94.77 and its two-hundred day simple moving average is $92.76. The company has a market capitalization of $116.57 billion, a PE ratio of 12.54, a PEG ratio of 2.53 and a beta of 0.62. ConocoPhillips has a one year low of $79.88 and a one year high of $115.38.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its quarterly 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 for the quarter, compared to the consensus estimate of $14.39 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The company's revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.98 EPS. Sell-side analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current year.

Hedge Funds Weigh In On ConocoPhillips

Several large investors have recently made changes to their positions in the company. Howard Hughes Medical Institute acquired a new position in ConocoPhillips in the second quarter valued at about $25,000. Financial Network Wealth Advisors LLC lifted its stake in 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 buying an additional 222 shares during the period. Stone House Investment Management LLC acquired a new position in ConocoPhillips in the first quarter valued at about $31,000. Bogart Wealth LLC lifted its stake in ConocoPhillips by 136.8% in the second quarter. Bogart Wealth LLC now owns 315 shares of the energy producer's stock valued at $28,000 after buying an additional 182 shares during the period. Finally, Activest Wealth Management lifted its stake in 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 buying an additional 232 shares during the period. Institutional investors and hedge funds own 82.36% of the company's stock.

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.

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