ConocoPhillips (NYSE:COP) Given New $157.00 Price Target at Piper Sandler

ConocoPhillips (NYSE:COP) had its price objective upped by research analysts at Piper Sandler from $154.00 to $157.00 in a research note issued on Wednesday,MarketScreener reports. The firm presently has an “overweight” rating on the energy producer’s stock. Piper Sandler’s price objective suggests a potential upside of 19.43% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Roth Mkm cut shares of ConocoPhillips from a “buy” rating to a “neutral” rating and set a $112.00 price objective on the stock. in a research report on Tuesday, February 17th. Scotiabank upgraded shares of ConocoPhillips to a “hold” rating in a research report on Friday, March 27th. BMO Capital Markets raised their target price on shares of ConocoPhillips from $130.00 to $140.00 and gave the company an “outperform” rating in a research note on Tuesday. Raymond James Financial boosted their price target on shares of ConocoPhillips from $113.00 to $118.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 11th. Finally, Zacks Research upgraded ConocoPhillips from a “strong sell” rating to a “hold” rating in a research report on Monday, March 30th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $127.08.

ConocoPhillips Stock Performance

COP opened at $131.45 on Wednesday. The company has a current ratio of 1.30, a quick ratio of 1.14 and a debt-to-equity ratio of 0.35. The company has a market cap of $160.22 billion, a price-to-earnings ratio of 20.73, a PEG ratio of 2.53 and a beta of 0.19. The company’s 50 day moving average is $117.22 and its 200 day moving average is $101.02. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $135.87.

ConocoPhillips (NYSE:COP) last announced its 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 business 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 firm’s quarterly revenue was down 3.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.98 earnings per share. On average, equities research analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

Insiders Place Their Bets

In other ConocoPhillips news, EVP Nicholas G. Olds sold 14,522 shares of ConocoPhillips stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $119.36, for a total value of $1,733,345.92. Following the transaction, the executive vice president directly owned 12,389 shares of the company’s stock, valued at approximately $1,478,751.04. The trade was a 53.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Michael Lance sold 506,800 shares of the stock in a transaction on Friday, March 20th. The shares were sold at an average price of $127.26, for a total value of $64,495,368.00. Following the sale, the chief executive officer owned 6,835 shares of the company’s stock, valued at approximately $869,822.10. This represents a 98.67% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 734,891 shares of company stock worth $93,345,692. Insiders own 0.24% of the company’s stock.

Hedge Funds Weigh In On ConocoPhillips

Several hedge funds have recently made changes to their positions in the company. McAlvany Wealth Management LLC acquired a new stake in shares of ConocoPhillips during the fourth quarter worth about $2,802,000. World Investment Advisors raised its position in ConocoPhillips by 3.9% during the 4th quarter. World Investment Advisors now owns 75,617 shares of the energy producer’s stock worth $7,078,000 after buying an additional 2,821 shares during the last quarter. Larry Mathis Financial Planning LLC acquired a new stake in ConocoPhillips during the 4th quarter valued at approximately $470,000. Union Savings Bank purchased a new stake in shares of ConocoPhillips in the 4th quarter valued at $148,000. Finally, Hsbc Holdings PLC boosted its holdings in shares of ConocoPhillips by 7.4% in the 4th quarter. Hsbc Holdings PLC now owns 2,992,999 shares of the energy producer’s stock valued at $280,192,000 after acquiring an additional 207,459 shares during the last quarter. 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.