ConocoPhillips (NYSE:COP) Given New $135.00 Price Target at Citigroup

ConocoPhillips (NYSE:COP) had its target price upped by analysts at Citigroup from $125.00 to $135.00 in a research note issued on Monday,MarketScreener reports. The brokerage presently has a “buy” rating on the energy producer’s stock. Citigroup’s target price points to a potential upside of 15.19% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of ConocoPhillips in a report on Monday, December 29th. Wells Fargo & Company increased their target price on shares of ConocoPhillips from $132.00 to $133.00 and gave the company an “overweight” rating in a research note on Friday, February 6th. Johnson Rice lowered ConocoPhillips from an “accumulate” rating to a “hold” rating and decreased their price target for the company from $108.00 to $105.00 in a research report on Friday, December 5th. Bank of America reiterated an “underperform” rating and set a $102.00 price target on shares of ConocoPhillips in a report on Friday, January 16th. Finally, The Goldman Sachs Group increased their price objective on ConocoPhillips from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $116.33.

ConocoPhillips Stock Performance

ConocoPhillips stock opened at $117.20 on Monday. The stock’s 50-day moving average is $101.70 and its 200-day moving average is $95.38. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.30 and a quick ratio of 1.14. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $119.30. The company has a market cap of $144.83 billion, a price-to-earnings ratio of 18.38, a price-to-earnings-growth ratio of 2.88 and a beta of 0.27.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data 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). ConocoPhillips had a net margin of 12.98% and a return on equity of 11.90%. The firm had revenue of $13.86 billion for the quarter, compared to analysts’ expectations of $14.35 billion. During the same quarter in the prior year, the business earned $1.98 EPS. The company’s revenue for the quarter was down 3.7% on a year-over-year basis. Equities analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Ryan Michael Lance sold 500,708 shares of the stock in a transaction on Friday, December 19th. The stock was sold at an average price of $92.50, for a total value of $46,315,490.00. Following the transaction, the chief executive officer owned 325,972 shares of the company’s stock, valued at $30,152,410. This represents a 60.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.24% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Nicolet Advisory Services LLC boosted its position in ConocoPhillips by 0.9% during the 4th quarter. Nicolet Advisory Services LLC now owns 10,352 shares of the energy producer’s stock worth $989,000 after acquiring an additional 95 shares during the last quarter. Duncan Williams Asset Management LLC boosted its holdings in ConocoPhillips by 4.4% during the fourth quarter. Duncan Williams Asset Management LLC now owns 2,370 shares of the energy producer’s stock worth $222,000 after purchasing an additional 100 shares during the last quarter. Wedge Capital Management L L P NC grew its position in ConocoPhillips by 4.1% in the fourth quarter. Wedge Capital Management L L P NC now owns 2,570 shares of the energy producer’s stock valued at $241,000 after purchasing an additional 101 shares in the last quarter. Strategic Blueprint LLC increased its stake in 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 buying an additional 101 shares during the last quarter. Finally, Chesapeake Wealth Management lifted its position in ConocoPhillips by 1.5% during the 4th quarter. Chesapeake Wealth Management now owns 7,160 shares of the energy producer’s stock worth $670,000 after buying an additional 103 shares in 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.