S&P 500   4,471.37
DOW   35,294.76
QQQ   368.94
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S&P 500   4,471.37
DOW   35,294.76
QQQ   368.94
pixel
pixel
pixel
S&P 500   4,471.37
DOW   35,294.76
QQQ   368.94
pixel
pixel
pixel
S&P 500   4,471.37
DOW   35,294.76
QQQ   368.94
pixel
pixel
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ConocoPhillips (NYSE:COP) Price Target Raised to $72.00

Last updated on Thursday, September 30, 2021 | 2021 MarketBeat

ConocoPhillips (NYSE:COP) had its price target upped by research analysts at KeyCorp from $69.00 to $72.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has an "overweight" rating on the energy producer's stock. KeyCorp's target price suggests a potential upside of 5.82% from the stock's previous close.

COP has been the subject of a number of other research reports. Mizuho boosted their target price on shares of ConocoPhillips from $82.00 to $86.00 and gave the stock a "buy" rating in a research note on Thursday, July 15th. Citigroup upped their price objective on shares of ConocoPhillips from $65.00 to $70.00 and gave the company a "buy" rating in a research note on Thursday, July 1st. The Goldman Sachs Group restated a "buy" rating and issued a $76.00 price objective (up previously from $68.00) on shares of ConocoPhillips in a research note on Tuesday. Piper Sandler upped their price objective on shares of ConocoPhillips from $69.00 to $80.00 and gave the company an "overweight" rating in a research note on Friday, July 23rd. They noted that the move was a valuation call. Finally, Royal Bank of Canada upped their price objective on shares of ConocoPhillips from $73.00 to $75.00 and gave the company an "outperform" rating in a research note on Thursday, July 1st. Two research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $72.73.

Shares of COP stock opened at $68.04 on Thursday. The company has a current ratio of 2.11, a quick ratio of 1.97 and a debt-to-equity ratio of 0.42. The firm has a fifty day moving average price of $57.25 and a 200 day moving average price of $56.43. The company has a market cap of $91.11 billion, a P/E ratio of 58.66, a PEG ratio of 1.56 and a beta of 1.77. ConocoPhillips has a 12 month low of $27.53 and a 12 month high of $68.64.

ConocoPhillips (NYSE:COP) last issued its earnings results on Tuesday, August 3rd. The energy producer reported $1.27 EPS for the quarter, topping analysts' consensus estimates of $1.10 by $0.17. The firm had revenue of $10.21 billion during the quarter, compared to the consensus estimate of $10.44 billion. ConocoPhillips had a net margin of 5.93% and a return on equity of 5.64%. During the same quarter in the previous year, the firm posted ($0.92) earnings per share. On average, equities analysts forecast that ConocoPhillips will post 4.79 EPS for the current year.

In related news, Director R A. Walker bought 18,000 shares of the company's stock in a transaction on Monday, August 9th. The stock was bought at an average cost of $55.50 per share, with a total value of $999,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.08% of the company's stock.

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of ConocoPhillips by 0.6% in the second quarter. Vanguard Group Inc. now owns 110,688,147 shares of the energy producer's stock valued at $6,740,909,000 after purchasing an additional 675,979 shares during the last quarter. Capital International Investors grew its position in shares of ConocoPhillips by 26.8% in the first quarter. Capital International Investors now owns 80,245,103 shares of the energy producer's stock valued at $4,250,693,000 after purchasing an additional 16,936,808 shares during the last quarter. State Street Corp grew its position in shares of ConocoPhillips by 2.0% in the second quarter. State Street Corp now owns 72,497,939 shares of the energy producer's stock valued at $4,415,124,000 after purchasing an additional 1,405,555 shares during the last quarter. Geode Capital Management LLC grew its position in shares of ConocoPhillips by 3.1% in the second quarter. Geode Capital Management LLC now owns 20,916,289 shares of the energy producer's stock valued at $1,269,767,000 after purchasing an additional 623,791 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of ConocoPhillips by 45.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 20,130,486 shares of the energy producer's stock valued at $1,066,312,000 after purchasing an additional 6,258,117 shares during the last quarter. Institutional investors and hedge funds own 78.47% of the company's stock.

ConocoPhillips Company Profile

ConocoPhillips engages in the exploration, production, transportation and marketing of crude oil, bitumen, natural gas, natural gas liquids, and liquefied natural gas on a worldwide basis. It operates through the following geographical segments: Alaska; Lower 48; Canada; Europe, Middle East and North Africa; Asia Pacific; and Other International.

Read More: Commodities

Analyst Recommendations for ConocoPhillips (NYSE:COP)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

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