ConocoPhillips (NYSE:COP) Given New $100.00 Price Target at Scotiabank

ConocoPhillips (NYSE:COP) had its target price increased by investment analysts at Scotiabank from $95.00 to $100.00 in a research report issued to clients and investors on Friday, July 11th, Marketbeat.com reports. The brokerage currently has a “sector perform” rating on the energy producer’s stock. Scotiabank’s price target suggests a potential upside of 3.39% from the stock’s previous close.

Several other equities analysts also recently commented on the company. Piper Sandler raised their target price on ConocoPhillips from $107.00 to $113.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 2nd. Raymond James Financial reiterated an “outperform” rating and issued a $109.00 price objective (up previously from $103.00) on shares of ConocoPhillips in a research report on Tuesday, May 20th. Susquehanna cut their price objective on ConocoPhillips from $120.00 to $114.00 and set a “positive” rating for the company in a research report on Monday, May 12th. Wells Fargo & Company reiterated an “overweight” rating and issued a $117.00 price objective (up previously from $113.00) on shares of ConocoPhillips in a research report on Thursday, June 26th. Finally, Citigroup cut their price objective on ConocoPhillips from $140.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, June 11th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $121.33.

ConocoPhillips Price Performance

Shares of COP stock opened at $96.72 on Friday. The stock has a 50 day moving average of $91.64 and a two-hundred day moving average of $94.29. The company has a current ratio of 1.27, a quick ratio of 1.13 and a debt-to-equity ratio of 0.36. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $116.08. The company has a market capitalization of $122.27 billion, a P/E ratio of 12.29, a P/E/G ratio of 2.55 and a beta of 0.61.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, topping the consensus estimate of $2.05 by $0.04. The business 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 last year, the company earned $2.05 EPS. As a group, equities analysts expect that ConocoPhillips will post 8.16 EPS for the current year.

Insider Activity at ConocoPhillips

In related news, EVP Kirk L. Johnson acquired 5,300 shares of the firm’s stock in a transaction that occurred on Monday, June 16th. The stock was acquired at an average cost of $94.24 per share, with a total value of $499,472.00. Following the completion of the purchase, the executive vice president directly owned 14,527 shares in the company, valued at approximately $1,369,024.48. This trade represents a 57.44% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.24% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ConocoPhillips

A number of institutional investors have recently made changes to their positions in the stock. Murphy & Mullick Capital Management Corp acquired a new position in ConocoPhillips in the fourth quarter valued at about $26,000. 10Elms LLP acquired a new position in ConocoPhillips in the fourth quarter valued at about $28,000. Bogart Wealth LLC grew 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 acquiring an additional 182 shares during the period. Activest Wealth Management grew 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 acquiring an additional 232 shares during the period. Finally, Financial Network Wealth Advisors LLC grew 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 acquiring an additional 222 shares during the period. 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.