UBS Group Has Lowered Expectations for ConocoPhillips (NYSE:COP) Stock Price

ConocoPhillips (NYSE:COP) had its price objective dropped by stock analysts at UBS Group from $124.00 to $122.00 in a note issued to investors on Monday,MarketScreener reports. The firm currently has a “buy” rating on the energy producer’s stock. UBS Group’s price objective suggests a potential upside of 38.38% from the company’s current price.

COP has been the subject of a number of other reports. Royal Bank Of Canada boosted their target price on shares of ConocoPhillips from $113.00 to $118.00 and gave the company an “outperform” rating in a report on Monday. Melius started coverage on shares of ConocoPhillips in a report on Wednesday, August 20th. They issued a “hold” rating and a $117.00 target price for the company. Roth Capital restated a “buy” rating on shares of ConocoPhillips in a report on Wednesday, September 3rd. Evercore ISI lowered their target price on shares of ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating for the company in a report on Monday, October 6th. Finally, Wall Street Zen upgraded shares of ConocoPhillips from a “sell” rating to a “hold” rating in a report on Saturday, September 20th. Seventeen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $117.13.

ConocoPhillips Stock Performance

Shares of NYSE COP opened at $88.17 on Monday. The company has a market cap of $110.11 billion, a PE ratio of 11.83, a price-to-earnings-growth ratio of 2.36 and a beta of 0.62. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $115.38. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10. The company has a 50-day simple moving average of $94.42 and a 200-day simple moving average of $92.32.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Navalign LLC lifted its position in shares of ConocoPhillips by 1.1% during the second quarter. Navalign LLC now owns 9,918 shares of the energy producer’s stock worth $890,000 after purchasing an additional 108 shares in the last quarter. Greenfield Savings Bank lifted its position in shares of ConocoPhillips by 1.2% during the third quarter. Greenfield Savings Bank now owns 9,018 shares of the energy producer’s stock worth $853,000 after purchasing an additional 108 shares in the last quarter. Tritonpoint Wealth LLC lifted its position in shares of ConocoPhillips by 1.3% during the second quarter. Tritonpoint Wealth LLC now owns 8,329 shares of the energy producer’s stock worth $747,000 after purchasing an additional 110 shares in the last quarter. Iowa State Bank lifted its position in shares of ConocoPhillips by 0.5% during the second quarter. Iowa State Bank now owns 22,193 shares of the energy producer’s stock worth $1,992,000 after purchasing an additional 110 shares in the last quarter. Finally, Perennial Investment Advisors LLC lifted its position in shares of ConocoPhillips by 2.8% during the second quarter. Perennial Investment Advisors LLC now owns 4,097 shares of the energy producer’s stock worth $368,000 after purchasing an additional 112 shares in the last quarter. 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.