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

ConocoPhillips (NYSE:COP) had its target price boosted by analysts at Raymond James Financial from $113.00 to $118.00 in a research note issued to investors on Wednesday,MarketScreener reports. The brokerage currently has an “outperform” rating on the energy producer’s stock. Raymond James Financial’s price objective would indicate a potential upside of 8.45% from the company’s previous close.

Several other research firms have also recently weighed in on COP. Roth Mkm restated a “buy” rating and issued a $112.00 price target on shares of ConocoPhillips in a research note on Thursday, February 5th. Jefferies Financial Group restated a “buy” rating on shares of ConocoPhillips in a research note on Monday, December 15th. The Goldman Sachs Group lifted their price target on shares of ConocoPhillips from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, February 6th. Sanford C. Bernstein lowered their price objective 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. Finally, Capital One Financial raised their target price on shares of ConocoPhillips from $111.00 to $116.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 20th. Seventeen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $115.00.

ConocoPhillips Stock Up 1.2%

NYSE:COP opened at $108.81 on Wednesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.14 and a current ratio of 1.30. The firm has a market cap of $134.46 billion, a P/E ratio of 17.19 and a beta of 0.32. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $108.89. The firm has a 50-day simple moving average of $97.24 and a two-hundred day simple moving average of $93.89.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, February 5th. The energy producer reported $1.02 EPS for the quarter, missing analysts’ consensus estimates 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 company’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.98 EPS. Analysts predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Ryan Michael Lance sold 500,708 shares of the stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $92.50, for a total transaction of $46,315,490.00. Following the completion of the transaction, the chief executive officer directly owned 325,972 shares of the company’s stock, valued at approximately $30,152,410. This represents a 60.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.24% of the company’s stock.

Institutional Investors Weigh In On ConocoPhillips

Large investors have recently bought and sold shares of the business. Duncan Williams Asset Management LLC lifted its stake in shares of ConocoPhillips by 4.4% in the fourth quarter. Duncan Williams Asset Management LLC now owns 2,370 shares of the energy producer’s stock worth $222,000 after acquiring an additional 100 shares during the period. Wedge Capital Management L L P NC lifted its position in shares of ConocoPhillips by 4.1% in the 4th quarter. Wedge Capital Management L L P NC now owns 2,570 shares of the energy producer’s stock worth $241,000 after purchasing an additional 101 shares during the period. Strategic Blueprint LLC boosted its stake in shares of ConocoPhillips by 1.3% in the 4th quarter. Strategic Blueprint LLC now owns 8,018 shares of the energy producer’s stock valued at $751,000 after purchasing an additional 101 shares during the last quarter. Chesapeake Wealth Management increased its position in shares of ConocoPhillips by 1.5% during the fourth quarter. Chesapeake Wealth Management now owns 7,160 shares of the energy producer’s stock worth $670,000 after buying an additional 103 shares during the period. Finally, Oregon Pacific Wealth Management LLC raised its stake in ConocoPhillips by 4.5% during the fourth quarter. Oregon Pacific Wealth Management LLC now owns 2,414 shares of the energy producer’s stock worth $226,000 after buying an additional 104 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

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.