Capital One Financial Forecasts Strong Price Appreciation for ConocoPhillips (NYSE:COP) Stock

ConocoPhillips (NYSE:COP) had its target price raised by equities research analysts at Capital One Financial from $111.00 to $112.00 in a report issued on Friday,MarketScreener reports. Capital One Financial‘s price target would suggest a potential upside of 18.94% from the stock’s current price.

Several other equities analysts have also commented on COP. Melius began coverage on ConocoPhillips in a research note on Wednesday, August 20th. They set a “hold” rating and a $117.00 price target on the stock. Susquehanna cut their price target on ConocoPhillips from $114.00 to $113.00 and set a “positive” rating on the stock in a research note on Wednesday, July 23rd. Roth Capital restated a “buy” rating on shares of ConocoPhillips in a research note on Wednesday, September 3rd. Morgan Stanley restated an “overweight” rating and set a $123.00 price target (up previously from $119.00) on shares of ConocoPhillips in a research note on Sunday, August 10th. Finally, Mizuho cut their price target on ConocoPhillips from $125.00 to $120.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. Sixteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $119.77.

ConocoPhillips Stock Up 0.8%

NYSE:COP opened at $94.17 on Friday. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $116.08. The company has a market cap of $117.61 billion, a price-to-earnings ratio of 12.64, a price-to-earnings-growth ratio of 2.48 and a beta of 0.62. The stock has a fifty day simple moving average of $94.92 and a 200-day simple moving average of $92.85. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.06. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The business had revenue of $14.94 billion during the quarter, compared to the consensus estimate of $14.39 billion. During the same period last year, the company earned $1.98 earnings per share. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. Analysts anticipate that ConocoPhillips will post 8.16 EPS for the current year.

Hedge Funds Weigh In On ConocoPhillips

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. grew its stake in ConocoPhillips by 0.7% in the second quarter. Charles Schwab Investment Management Inc. now owns 40,382,724 shares of the energy producer’s stock valued at $3,623,946,000 after purchasing an additional 287,970 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of ConocoPhillips by 1.4% during the first quarter. Wellington Management Group LLP now owns 31,610,608 shares of the energy producer’s stock worth $3,319,746,000 after acquiring an additional 437,709 shares during the last quarter. Fisher Asset Management LLC grew its stake in shares of ConocoPhillips by 1.6% during the second quarter. Fisher Asset Management LLC now owns 14,393,875 shares of the energy producer’s stock worth $1,291,706,000 after acquiring an additional 224,201 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of ConocoPhillips by 31.4% during the second quarter. Ameriprise Financial Inc. now owns 10,778,664 shares of the energy producer’s stock worth $966,267,000 after acquiring an additional 2,575,803 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of ConocoPhillips by 30.2% during the first quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer’s stock worth $942,297,000 after acquiring an additional 2,080,625 shares during the last quarter. Hedge funds and other 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.