ConocoPhillips (NYSE:COP) Given New $115.00 Price Target at BMO Capital Markets

ConocoPhillips (NYSE:COP) had its price target raised by equities researchers at BMO Capital Markets from $113.00 to $115.00 in a research report issued to clients and investors on Monday,MarketScreener reports. The brokerage presently has an “outperform” rating on the energy producer’s stock. BMO Capital Markets’ price objective points to a potential upside of 25.43% from the stock’s current price.

Other analysts have also recently issued reports about the company. Piper Sandler upped their target price on ConocoPhillips from $123.00 to $124.00 and gave the company an “overweight” rating in a research report on Monday, August 18th. Raymond James Financial reduced their target price on ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating for the company in a research note on Monday, September 8th. Royal Bank Of Canada decreased their target price on shares of ConocoPhillips from $115.00 to $113.00 and set an “outperform” rating for the company in a research report on Friday, July 11th. Mizuho dropped their target price on ConocoPhillips from $125.00 to $120.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. Finally, Roth Capital reiterated a “buy” rating on shares of ConocoPhillips in a report on Wednesday, September 3rd. Sixteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $120.14.

ConocoPhillips Price Performance

Shares of COP stock opened at $91.69 on Monday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27. The firm has a market capitalization of $114.51 billion, a P/E ratio of 12.31, a P/E/G ratio of 2.42 and a beta of 0.69. The stock has a 50 day moving average price of $94.59 and a 200 day moving average price of $92.97. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $116.08.

ConocoPhillips (NYSE:COP) last posted 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. The company had revenue of $14.94 billion during the quarter, compared to the consensus estimate of $14.39 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.98 earnings per share. As a group, sell-side analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

Institutional Trading of ConocoPhillips

Several institutional investors and hedge funds have recently made changes to their positions in COP. Navalign LLC lifted its holdings in ConocoPhillips by 1.1% in the second quarter. Navalign LLC now owns 9,918 shares of the energy producer’s stock worth $890,000 after buying an additional 108 shares during the period. Tritonpoint Wealth LLC lifted its holdings in ConocoPhillips by 1.3% during the 2nd quarter. Tritonpoint Wealth LLC now owns 8,329 shares of the energy producer’s stock valued at $747,000 after buying an additional 110 shares in the last quarter. Iowa State Bank lifted its stake in shares of ConocoPhillips by 0.5% during the 2nd 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 during the last quarter. Perennial Investment Advisors LLC raised its position in shares of ConocoPhillips by 2.8% in the 2nd quarter. Perennial Investment Advisors LLC now owns 4,097 shares of the energy producer’s stock valued at $368,000 after purchasing an additional 112 shares during the last quarter. Finally, FAS Wealth Partners Inc. lifted its position in ConocoPhillips by 0.9% during the second quarter. FAS Wealth Partners Inc. now owns 12,154 shares of the energy producer’s stock valued at $1,091,000 after purchasing an additional 112 shares during the period. 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.