ConocoPhillips (NYSE:COP) Given “Outperform” Rating at Raymond James

ConocoPhillips (NYSE:COP)‘s stock had its “outperform” rating restated by Raymond James in a research note issued to investors on Tuesday, MarketBeat.com reports. They currently have a $109.00 target price on the energy producer’s stock, up from their prior target price of $103.00. Raymond James’ target price points to a potential upside of 26.52% from the company’s current price.

Several other equities analysts have also issued reports on the company. Piper Sandler lowered their price target on ConocoPhillips from $114.00 to $107.00 and set an “overweight” rating for the company in a research report on Tuesday, May 13th. Bank of America lowered ConocoPhillips from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $138.00 to $107.00 in a research report on Tuesday, April 29th. Wells Fargo & Company lowered their price target on ConocoPhillips from $116.00 to $113.00 and set an “overweight” rating for the company in a research report on Wednesday, May 14th. JPMorgan Chase & Co. lowered their price target on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Finally, Barclays decreased their target price on ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. Three analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and an average target price of $121.95.

ConocoPhillips Stock Performance

Shares of COP stock opened at $86.15 on Tuesday. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $119.43. The stock has a market cap of $108.91 billion, a PE ratio of 11.06, a price-to-earnings-growth ratio of 0.79 and a beta of 0.64. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The company’s fifty day moving average price is $92.45 and its 200-day moving average price is $98.54.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.04. The firm had revenue of $16.18 billion during the quarter, compared to analyst estimates of $15.74 billion. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. During the same quarter in the previous year, the firm earned $2.05 EPS. On average, equities analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.

Institutional Investors Weigh In On ConocoPhillips

Several hedge funds and other institutional investors have recently made changes to their positions in COP. Albion Financial Group UT increased its holdings in ConocoPhillips by 876.9% in the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after acquiring an additional 228 shares in the last quarter. Murphy & Mullick Capital Management Corp purchased a new stake in ConocoPhillips during the 4th quarter valued at $26,000. Centricity Wealth Management LLC purchased a new stake in ConocoPhillips during the 4th quarter valued at $27,000. 10Elms LLP purchased a new stake in ConocoPhillips during the 4th quarter valued at $28,000. Finally, Financial Network Wealth Advisors LLC raised its holdings in ConocoPhillips by 341.5% during the 1st 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. 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.