Raymond James Financial Forecasts Strong Price Appreciation for ConocoPhillips (NYSE:COP) Stock

ConocoPhillips (NYSE:COP) had its price target upped by equities researchers at Raymond James Financial from $113.00 to $118.00 in a research note issued on Wednesday,MarketScreener reports. The firm presently has an “outperform” rating on the energy producer’s stock. Raymond James Financial’s target price indicates a potential upside of 6.29% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. BMO Capital Markets boosted their price objective on shares of ConocoPhillips from $105.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, February 6th. Jefferies Financial Group reissued a “buy” rating on shares of ConocoPhillips in a research report on Monday, December 15th. Wells Fargo & Company upped their price target on ConocoPhillips from $132.00 to $133.00 and gave the stock an “overweight” rating in a research note on Friday, February 6th. Wolfe Research raised their price objective on ConocoPhillips from $122.00 to $123.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. Finally, Roth Mkm reissued a “buy” rating and issued a $112.00 target price on shares of ConocoPhillips in a report on Thursday, February 5th. Seventeen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, ConocoPhillips has a consensus rating of “Moderate Buy” and an average target price of $115.00.

ConocoPhillips Trading Down 0.2%

NYSE COP opened at $111.02 on Wednesday. The stock’s 50 day moving average is $97.98 and its 200 day moving average is $94.13. The company has a quick ratio of 1.14, a current ratio of 1.30 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $137.19 billion, a PE ratio of 17.51 and a beta of 0.32. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $111.98.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, February 5th. The energy producer reported $1.02 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.21). The firm had revenue of $13.86 billion for the quarter, compared to analysts’ expectations of $14.35 billion. ConocoPhillips had a net margin of 12.98% and a return on equity of 11.90%. The business’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.98 EPS. Research analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

Insider Activity at ConocoPhillips

In other news, CEO Ryan Michael Lance sold 500,708 shares of the business’s stock in a transaction on Friday, December 19th. The stock was sold at an average price of $92.50, for a total value of $46,315,490.00. Following the completion of the transaction, the chief executive officer owned 325,972 shares in the company, valued at $30,152,410. The trade was a 60.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.24% of the company’s stock.

Institutional Investors Weigh In On ConocoPhillips

Several large investors have recently bought and sold shares of COP. Howard Hughes Medical Institute bought a new stake in shares of ConocoPhillips in the second quarter worth approximately $25,000. Cloud Capital Management LLC purchased a new stake in ConocoPhillips in the third quarter worth approximately $26,000. Bogart Wealth LLC grew its position in ConocoPhillips by 136.8% in the 2nd quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock worth $28,000 after purchasing an additional 182 shares during the period. KERR FINANCIAL PLANNING Corp purchased a new stake in ConocoPhillips during the 3rd quarter valued at $28,000. Finally, Board of the Pension Protection Fund bought a new position in shares of ConocoPhillips during the 4th quarter valued at $28,000. 82.36% of the stock is currently owned by institutional investors.

About ConocoPhillips

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.