Scotiabank Issues Positive Forecast for ConocoPhillips (NYSE:COP) Stock Price

ConocoPhillips (NYSE:COP - Get Free Report) had its price target boosted by investment analysts at Scotiabank from $95.00 to $100.00 in a report released on Friday,Benzinga reports. The firm currently has a "sector perform" rating on the energy producer's stock. Scotiabank's price target indicates a potential upside of 4.33% from the stock's previous close.

Several other analysts have also recently issued reports on the company. Citigroup cut their price objective on ConocoPhillips from $140.00 to $115.00 and set a "buy" rating on the stock in a research note on Wednesday, June 11th. Barclays lowered their target price on ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. UBS Group decreased their price target on ConocoPhillips from $116.00 to $111.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Piper Sandler increased their price target on ConocoPhillips from $107.00 to $113.00 and gave the company an "overweight" rating in a research note on Wednesday, July 2nd. Finally, Bank of America decreased their price target on ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating for the company in a research note on Friday, May 23rd. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $121.95.

ConocoPhillips Stock Up 0.5%

COP traded up $0.48 on Friday, reaching $95.85. The company's stock had a trading volume of 1,179,631 shares, compared to its average volume of 8,462,951. The stock has a market cap of $121.18 billion, a price-to-earnings ratio of 12.18, a price-to-earnings-growth ratio of 2.55 and a beta of 0.61. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $118.40. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.27 and a quick ratio of 1.13. The business's 50 day moving average is $90.50 and its 200 day moving average is $94.78.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, beating analysts' consensus estimates of $2.05 by $0.04. The firm had revenue of $16.18 billion during the quarter, compared to the consensus estimate of $15.74 billion. ConocoPhillips had a return on equity of 16.54% and a net margin of 16.02%. During the same quarter in the prior year, the business posted $2.05 earnings per share. As a group, research analysts forecast that ConocoPhillips will post 8.16 EPS for the current fiscal year.

Insider Activity

In related news, EVP Kirk L. Johnson acquired 5,300 shares of the firm's stock in a transaction on Monday, June 16th. The shares were bought at an average cost of $94.24 per share, with a total value of $499,472.00. Following the completion of the acquisition, the executive vice president owned 14,527 shares of the company's stock, valued at $1,369,024.48. This trade represents a 57.44% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.24% of the company's stock.

Institutional Investors Weigh In On ConocoPhillips

A number of institutional investors have recently added to or reduced their stakes in COP. Murphy & Mullick Capital Management Corp acquired a new stake in ConocoPhillips during the fourth quarter valued at approximately $26,000. 10Elms LLP bought a new position in ConocoPhillips in the 4th quarter worth approximately $28,000. Financial Network Wealth Advisors LLC raised its position in ConocoPhillips by 341.5% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer's stock worth $30,000 after purchasing an additional 222 shares during the last quarter. Stone House Investment Management LLC bought a new position in ConocoPhillips in the 1st quarter worth approximately $31,000. Finally, Crowley Wealth Management Inc. bought a new position in ConocoPhillips in the 4th quarter worth approximately $32,000. 82.36% of the stock is owned by institutional investors and hedge funds.

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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