BMO Capital Markets Boosts ConocoPhillips (NYSE:COP) Price Target to $140.00

ConocoPhillips (NYSE:COP) had its target price boosted by equities researchers at BMO Capital Markets from $130.00 to $140.00 in a report released on Tuesday,MarketScreener reports. The brokerage currently has an “outperform” rating on the energy producer’s stock. BMO Capital Markets’ target price would indicate a potential upside of 5.36% from the stock’s current price.

A number of other analysts also recently commented on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of ConocoPhillips in a research report on Monday, December 29th. UBS Group lifted their target price on shares of ConocoPhillips from $130.00 to $144.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Piper Sandler lifted their target price on shares of ConocoPhillips from $111.00 to $154.00 and gave the stock an “overweight” rating in a research report on Thursday, March 12th. JPMorgan Chase & Co. boosted their price objective on shares of ConocoPhillips from $98.00 to $103.00 and gave the company a “neutral” rating in a research report on Friday, February 6th. Finally, Susquehanna boosted their price objective on shares of ConocoPhillips from $115.00 to $121.00 and gave the company a “positive” rating in a research report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $125.60.

ConocoPhillips Trading Up 0.9%

ConocoPhillips stock opened at $132.87 on Tuesday. 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 50-day moving average price of $116.59 and a two-hundred day moving average price of $100.75. The firm has a market capitalization of $161.95 billion, a price-to-earnings ratio of 20.94, a PEG ratio of 2.53 and a beta of 0.19. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $135.87.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, February 5th. The energy producer reported $1.02 earnings per share (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 analyst estimates of $14.35 billion. ConocoPhillips had a net margin of 12.98% and a return on equity of 11.90%. The company’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.98 earnings per share. Sell-side analysts expect that ConocoPhillips will post 8.16 earnings per share for the current year.

Insider Buying and Selling

In other ConocoPhillips news, CEO Ryan Michael Lance sold 113,221 shares of the business’s stock in a transaction that occurred on Tuesday, March 31st. The shares were sold at an average price of $132.71, for a total value of $15,025,558.91. Following the completion of the sale, the chief executive officer directly owned 350,000 shares of the company’s stock, valued at $46,448,500. The trade was a 24.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Kelly Brunetti Rose sold 7,700 shares of the business’s stock in a transaction that occurred on Tuesday, March 24th. The stock was sold at an average price of $130.03, for a total transaction of $1,001,231.00. Following the completion of the sale, the senior vice president directly owned 25,284 shares of the company’s stock, valued at $3,287,678.52. This represents a 23.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 734,891 shares of company stock valued at $93,345,692. 0.24% of the stock is owned by company insiders.

Institutional Trading of ConocoPhillips

Large investors have recently added to or reduced their stakes in the business. Tema Etfs LLC bought a new stake in shares of ConocoPhillips during the 3rd quarter worth $1,804,000. Victory Capital Management Inc. raised its stake in ConocoPhillips by 14.7% during the 3rd quarter. Victory Capital Management Inc. now owns 2,331,176 shares of the energy producer’s stock valued at $220,506,000 after purchasing an additional 298,245 shares during the last quarter. Natixis Advisors LLC raised its stake in ConocoPhillips by 8.7% during the 3rd quarter. Natixis Advisors LLC now owns 1,996,426 shares of the energy producer’s stock valued at $188,842,000 after purchasing an additional 160,410 shares during the last quarter. Chilton Capital Management LLC raised its stake in ConocoPhillips by 3.2% during the 3rd quarter. Chilton Capital Management LLC now owns 389,995 shares of the energy producer’s stock valued at $36,890,000 after purchasing an additional 11,958 shares during the last quarter. Finally, D.A. Davidson & CO. raised its stake in ConocoPhillips by 12.1% during the 3rd quarter. D.A. Davidson & CO. now owns 140,829 shares of the energy producer’s stock valued at $13,321,000 after purchasing an additional 15,202 shares during the last quarter. 82.36% of the stock is 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.