Barclays Issues Positive Forecast for ConocoPhillips (NYSE:COP) Stock Price

ConocoPhillips (NYSE:COP) had its price target lifted by Barclays from $150.00 to $165.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the energy producer’s stock. Barclays‘s price objective indicates a potential upside of 15.99% from the stock’s current price.

Other equities analysts have also recently issued reports about the company. Freedom Broker cut ConocoPhillips from a “buy” rating to a “hold” rating and boosted their price target for the stock from $122.00 to $138.00 in a report on Wednesday. Piper Sandler initiated coverage on shares of ConocoPhillips in a research note on Tuesday, October 27th. They issued a “neutral” rating and a $157.00 target price for the company. Morgan Stanley upped their target price on shares of ConocoPhillips from $151.00 to $159.00 and gave the company an “overweight” rating in a report on Thursday, October 15th. Freedom Capital raised shares of ConocoPhillips from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. Finally, William Blair began coverage on shares of ConocoPhillips in a report on Wednesday, October 28th. They set a “market perform” rating for the company. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $145.31.

ConocoPhillips Price Performance

Shares of NYSE:COP traded up $2.19 during midday trading on Friday, hitting $142.25. 1,034,219 shares of the stock were exchanged, compared to its average volume of 7,948,209. ConocoPhillips has a twelve month low of $85.70 and a twelve month high of $154.28. The company has a current ratio of 1.52, a quick ratio of 1.37 and a debt-to-equity ratio of 0.34. The company has a 50 day moving average price of $137.15 and a 200-day moving average price of $122.89. The stock has a market cap of $168.19 billion, a P/E ratio of 14.92, a PEG ratio of 1.26 and a beta of 0.16.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, November 5th. The energy producer reported $3.27 earnings per share for the quarter, beating the consensus estimate of $3.05 by $0.22. The firm had revenue of $19.43 billion during the quarter, compared to the consensus estimate of $18.59 billion. ConocoPhillips had a net margin of 16.55% and a return on equity of 17.60%. The firm’s revenue for the quarter was up 29.2% on a year-over-year basis. During the same period last year, the firm posted $1.61 EPS. On average, research analysts forecast that ConocoPhillips will post 12.13 earnings per share for the current year.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, SVP Andrew Lundquist sold 9,487 shares of ConocoPhillips stock in a transaction on Friday, August 21st. The stock was sold at an average price of $135.15, for a total transaction of $1,282,168.05. Following the sale, the senior vice president owned 9,593 shares of the company’s stock, valued at $1,296,493.95. The trade was a 49.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.09% of the stock is owned by corporate insiders.

Institutional Trading of ConocoPhillips

Several hedge funds and other institutional investors have recently modified their holdings of COP. Carolina Wealth Advisors LLC acquired a new position in ConocoPhillips in the 3rd quarter worth about $28,000. Frazier Financial Advisors LLC lifted its holdings in shares of ConocoPhillips by 151.0% during the 1st quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock valued at $32,000 after buying an additional 145 shares during the last quarter. Allied Private Wealth LLC acquired a new stake in shares of ConocoPhillips during the 2nd quarter valued at about $32,000. William Mack & Associates Inc. bought a new stake in shares of ConocoPhillips in the 3rd quarter valued at approximately $34,000. Finally, Evergreen Advisors LLC acquired a new position in ConocoPhillips in the first quarter worth approximately $36,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Company Profile

ConocoPhillips is an independent exploration and production company focused on finding, developing and producing oil and natural gas. Its products include crude oil, natural gas, liquefied natural gas and natural gas liquids. The company operates in several regions, including North America, Europe, the Middle East, North Africa and the Asia-Pacific. Its activities span exploration, development and production, with a portfolio that includes both conventional and unconventional resources. ConocoPhillips was formed in 2002 through the merger of Conoco and Phillips Petroleum.