ConocoPhillips (NYSE:COP) Given New $128.00 Price Target at Barclays

ConocoPhillips (NYSE:COP) had its price target lifted by research analysts at Barclays from $118.00 to $128.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the energy producer’s stock. Barclays‘s price objective points to a potential upside of 5.26% from the stock’s previous close.

COP has been the subject of a number of other research reports. Jefferies Financial Group boosted their target price on ConocoPhillips from $120.00 to $129.00 and gave the stock a “buy” rating in a report on Monday, February 23rd. Sanford C. Bernstein reduced their price target on shares of ConocoPhillips from $116.00 to $98.00 and set an “outperform” rating on the stock in a research report on Monday, January 5th. Morgan Stanley decreased their price objective on shares of ConocoPhillips from $117.00 to $108.00 and set an “overweight” rating for the company in a research note on Friday, January 23rd. JPMorgan Chase & Co. increased their price objective on shares of ConocoPhillips from $98.00 to $103.00 and gave the stock a “neutral” rating in a research report on Friday, February 6th. Finally, Mizuho raised their target price on shares of ConocoPhillips from $120.00 to $121.00 and gave the company an “outperform” rating in a research note on Friday, December 12th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, ConocoPhillips presently has a consensus rating of “Moderate Buy” and a consensus target price of $119.75.

ConocoPhillips Trading Down 0.2%

COP stock traded down $0.29 during trading on Monday, reaching $121.60. 2,327,294 shares of the stock traded hands, compared to its average volume of 9,382,596. The business’s 50 day moving average price is $106.62 and its 200-day moving average price is $96.93. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $122.50. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.30 and a quick ratio of 1.14. The firm has a market capitalization of $150.27 billion, a PE ratio of 19.19, a P/E/G ratio of 2.89 and a beta of 0.27.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results 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 analyst estimates of $14.35 billion. ConocoPhillips had a return on equity of 11.90% and a net margin of 12.98%.The business’s revenue was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.98 earnings per share. As a group, sell-side analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current year.

Insider Buying and Selling

In other ConocoPhillips news, SVP Kelly Brunetti Rose sold 8,500 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $118.04, for a total transaction of $1,003,340.00. Following the sale, the senior vice president owned 32,984 shares in the company, valued at $3,893,431.36. This represents a 20.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Ryan Michael Lance sold 500,708 shares of ConocoPhillips stock in a transaction that occurred 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 of the company’s stock, valued at approximately $30,152,410. The trade was a 60.57% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 549,208 shares of company stock worth $52,070,430. Corporate insiders own 0.24% of the company’s stock.

Institutional Investors Weigh In On ConocoPhillips

Several institutional investors and hedge funds have recently made changes to their positions in the company. Howard Hughes Medical Institute acquired a new position in ConocoPhillips in the second quarter worth $25,000. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in shares of ConocoPhillips during the fourth quarter worth $25,000. Cloud Capital Management LLC acquired a new stake in shares of ConocoPhillips during the third quarter worth $26,000. KERR FINANCIAL PLANNING Corp bought a new position in shares of ConocoPhillips in the 3rd quarter worth about $28,000. Finally, Board of the Pension Protection Fund bought a new position in shares of ConocoPhillips in the 4th quarter worth about $28,000. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Company Profile

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.