Truist Financial Lowers ConocoPhillips (NYSE:COP) Price Target to $160.00

ConocoPhillips (NYSE:COP) had its price target decreased by equities researchers at Truist Financial from $170.00 to $160.00 in a report issued on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the energy producer’s stock. Truist Financial’s price objective points to a potential upside of 22.94% from the stock’s current price.

COP has been the topic of a number of other reports. Wells Fargo & Company lifted their target price on ConocoPhillips from $141.00 to $149.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 10th. UBS Group lifted their target price on ConocoPhillips from $138.00 to $143.00 and gave the stock a “buy” rating in a research report on Wednesday, February 14th. Piper Sandler lifted their target price on ConocoPhillips from $145.00 to $157.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Morgan Stanley lifted their target price on ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Finally, Scotiabank boosted their price objective on ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a report on Thursday, April 11th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $142.65.

ConocoPhillips Stock Down 0.1 %

Shares of COP traded down $0.09 during mid-day trading on Monday, hitting $130.15. 583,467 shares of the company’s stock were exchanged, compared to its average volume of 5,289,403. The company has a market cap of $153.11 billion, a price-to-earnings ratio of 14.36, a P/E/G ratio of 2.72 and a beta of 1.24. ConocoPhillips has a fifty-two week low of $95.70 and a fifty-two week high of $135.18. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.29 and a current ratio of 1.43. The stock’s 50-day moving average is $122.49 and its 200-day moving average is $117.60.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.32. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. The business had revenue of $15.31 billion for the quarter, compared to analysts’ expectations of $14.47 billion. During the same quarter in the prior year, the company earned $2.71 earnings per share. On average, sell-side analysts anticipate that ConocoPhillips will post 9.57 earnings per share for the current fiscal year.

Insider Buying and Selling at ConocoPhillips

In other news, SVP Heather G. Hrap sold 4,548 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $110.55, for a total transaction of $502,781.40. Following the completion of the transaction, the senior vice president now directly owns 2,654 shares in the company, valued at $293,399.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other ConocoPhillips news, EVP Nicholas G. Olds sold 12,150 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $126.44, for a total value of $1,536,246.00. Following the completion of the sale, the executive vice president now directly owns 14,522 shares in the company, valued at $1,836,161.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Heather G. Hrap sold 4,548 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $110.55, for a total value of $502,781.40. Following the completion of the sale, the senior vice president now owns 2,654 shares of the company’s stock, valued at $293,399.70. The disclosure for this sale can be found here. Insiders sold a total of 700,775 shares of company stock worth $87,615,169 over the last ninety days. Company insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On ConocoPhillips

Institutional investors have recently added to or reduced their stakes in the company. Orion Capital Management LLC bought a new position in shares of ConocoPhillips in the third quarter valued at $27,000. West Branch Capital LLC increased its holdings in shares of ConocoPhillips by 87.8% in the fourth quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock valued at $27,000 after buying an additional 108 shares in the last quarter. Sachetta LLC bought a new position in shares of ConocoPhillips in the fourth quarter valued at $27,000. Cooksen Wealth LLC bought a new position in shares of ConocoPhillips in the fourth quarter valued at $27,000. Finally, Cape Investment Advisory Inc. increased its holdings in shares of ConocoPhillips by 96.0% in the fourth quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock valued at $29,000 after buying an additional 121 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Company Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.