Royal Bank Of Canada Lowers ConocoPhillips (NYSE:COP) Price Target to $113.00

ConocoPhillips (NYSE:COP) had its price objective lowered by analysts at Royal Bank Of Canada from $115.00 to $113.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the energy producer’s stock. Royal Bank Of Canada’s target price points to a potential upside of 18.13% from the company’s current price.

A number of other analysts also recently issued reports on COP. Citigroup dropped their price target on ConocoPhillips from $140.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, June 11th. Barclays dropped their price target on ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. dropped 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. Piper Sandler lifted their price target on ConocoPhillips from $107.00 to $113.00 and gave the company an “overweight” rating in a research report on Wednesday, July 2nd. Finally, Wells Fargo & Company reiterated an “overweight” rating and set a $117.00 price target (up previously from $113.00) on shares of ConocoPhillips in a research report on Thursday, June 26th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and a consensus price target of $122.15.

ConocoPhillips Trading Up 0.3%

Shares of COP opened at $95.66 on Friday. The business has a 50-day moving average of $90.58 and a 200 day moving average of $94.75. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $118.40. The firm has a market cap of $120.93 billion, a P/E ratio of 12.16, a price-to-earnings-growth ratio of 2.58 and a beta of 0.61. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.13 and a current ratio of 1.27.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $2.05 by $0.04. The business had revenue of $16.18 billion during the quarter, compared to analyst estimates 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 previous year, the firm earned $2.05 EPS. As a group, research analysts forecast that ConocoPhillips will post 8.16 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Kirk L. Johnson acquired 5,300 shares of the stock in a transaction on Monday, June 16th. The stock was purchased at an average price of $94.24 per share, for a total transaction of $499,472.00. Following the completion of the transaction, 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 position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.24% of the company’s stock.

Institutional Trading of ConocoPhillips

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Murphy & Mullick Capital Management Corp bought a new position in shares of ConocoPhillips during the fourth quarter valued at approximately $26,000. 10Elms LLP bought a new position in shares of ConocoPhillips during the fourth quarter valued at approximately $28,000. Financial Network Wealth Advisors LLC raised its holdings in shares of ConocoPhillips by 341.5% during 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 in the last quarter. Stone House Investment Management LLC bought a new position in shares of ConocoPhillips during the first quarter valued at approximately $31,000. Finally, Crowley Wealth Management Inc. bought a new position in shares of ConocoPhillips during the fourth quarter valued at approximately $32,000. Institutional investors 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.