JPMorgan Chase & Co. Has Lowered Expectations for ConocoPhillips (NYSE:COP) Stock Price

ConocoPhillips (NYSE:COP) had its price target reduced by stock analysts at JPMorgan Chase & Co. from $115.00 to $112.00 in a research report issued on Friday,MarketScreener reports. The brokerage presently has an “overweight” rating on the energy producer’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 29.01% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. Raymond James Financial cut their target price on shares of ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating on the stock in a report on Monday, September 8th. Capital One Financial raised their price objective on shares of ConocoPhillips from $111.00 to $112.00 in a research report on Friday, October 3rd. The Goldman Sachs Group reduced their target price on shares of ConocoPhillips from $111.00 to $108.00 and set a “buy” rating for the company in a report on Friday, October 17th. Wall Street Zen upgraded shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, BMO Capital Markets raised their price target on ConocoPhillips from $115.00 to $117.00 and gave the stock an “outperform” rating in a report on Monday, October 13th. Eighteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $114.54.

ConocoPhillips Stock Performance

Shares of COP stock opened at $86.82 on Friday. The stock’s 50-day moving average is $91.58 and its two-hundred day moving average is $92.00. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $115.38. The firm has a market cap of $108.43 billion, a price-to-earnings ratio of 11.65, a PEG ratio of 2.36 and a beta of 0.58.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, November 6th. The energy producer reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.20. The firm had revenue of $15.03 billion during the quarter, compared to analysts’ expectations of $14.51 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The business’s revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.78 EPS. Analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

Institutional Investors Weigh In On ConocoPhillips

Hedge funds and other institutional investors have recently bought and sold shares of the business. Aberdeen Group plc lifted its holdings in shares of ConocoPhillips by 49.3% during the 1st quarter. Aberdeen Group plc now owns 801,426 shares of the energy producer’s stock worth $83,969,000 after acquiring an additional 264,726 shares during the period. Vanguard Personalized Indexing Management LLC increased its position in ConocoPhillips by 17.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 154,360 shares of the energy producer’s stock worth $13,927,000 after purchasing an additional 22,827 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in ConocoPhillips by 2.4% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,395,546 shares of the energy producer’s stock worth $304,716,000 after purchasing an additional 78,642 shares during the period. Commonwealth Retirement Investments LLC purchased a new position in ConocoPhillips during the second quarter worth approximately $1,264,000. Finally, Ashton Thomas Private Wealth LLC boosted its holdings in shares of ConocoPhillips by 17.7% in the 1st quarter. Ashton Thomas Private Wealth LLC now owns 37,361 shares of the energy producer’s stock valued at $3,924,000 after purchasing an additional 5,627 shares during the last quarter. Institutional investors and hedge funds 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.