ConocoPhillips (NYSE:COP) Stock Price Expected to Rise, Sanford C. Bernstein Analyst Says

ConocoPhillips (NYSE:COP) had its price objective boosted by Sanford C. Bernstein from $115.00 to $116.00 in a research note issued on Friday,MarketScreener reports. The brokerage presently has an “outperform” rating on the energy producer’s stock. Sanford C. Bernstein’s price target points to a potential upside of 32.83% from the stock’s current price.

A number of other research analysts also recently commented on the company. Roth Capital dropped their price objective on ConocoPhillips from $108.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, October 15th. Barclays lowered their target price on shares of ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating for the company in a report on Tuesday, October 7th. JPMorgan Chase & Co. cut their price target on shares of ConocoPhillips from $115.00 to $112.00 and set an “overweight” rating on the stock in a research note on Friday, November 7th. Piper Sandler reduced their price target on shares of ConocoPhillips from $124.00 to $115.00 and set an “overweight” rating for the company in a research report on Monday, October 13th. Finally, Melius assumed coverage on shares of ConocoPhillips in a research note on Wednesday, August 20th. They issued a “hold” rating and a $117.00 price objective for the company. Nineteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $115.16.

ConocoPhillips Trading Down 0.2%

Shares of NYSE:COP opened at $87.33 on Friday. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $112.73. The company’s 50 day moving average is $90.47 and its two-hundred day moving average is $91.90. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. The company has a market cap of $107.92 billion, a PE ratio of 11.72, a P/E/G ratio of 2.36 and a beta of 0.58.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, November 6th. The energy producer reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.20. The firm had revenue of $15.03 billion during the quarter, compared to the consensus estimate of $14.51 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The company’s revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.78 earnings per share. Equities analysts predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director William H. Mcraven acquired 5,768 shares of the firm’s stock in a transaction on Monday, November 10th. The stock was bought at an average cost of $86.68 per share, with a total value of $499,970.24. Following the transaction, the director owned 5,768 shares of the company’s stock, valued at $499,970.24. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.24% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. CIBC Bancorp USA Inc. purchased a new position in ConocoPhillips in the 3rd quarter valued at $16,344,000. WBI Investments LLC boosted its holdings in shares of ConocoPhillips by 698.2% in the third quarter. WBI Investments LLC now owns 22,079 shares of the energy producer’s stock valued at $2,088,000 after acquiring an additional 19,313 shares in the last quarter. Centaurus Financial Inc. increased its stake in shares of ConocoPhillips by 29.9% during the third quarter. Centaurus Financial Inc. now owns 7,503 shares of the energy producer’s stock worth $710,000 after acquiring an additional 1,725 shares during the period. Tweedy Browne Co LLC raised its holdings in ConocoPhillips by 16.0% during the third quarter. Tweedy Browne Co LLC now owns 24,721 shares of the energy producer’s stock worth $2,338,000 after purchasing an additional 3,417 shares in the last quarter. Finally, Coldstream Capital Management Inc. lifted its position in ConocoPhillips by 4.5% in the third quarter. Coldstream Capital Management Inc. now owns 35,932 shares of the energy producer’s stock valued at $3,399,000 after purchasing an additional 1,563 shares during the period. 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.