ConocoPhillips (NYSE:COP) PT Raised to $63.00 at KeyCorp


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ConocoPhillips (NYSE:COP) had its price target upped by equities research analysts at KeyCorp from $62.00 to $63.00 in a research note issued on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the energy producer’s stock. KeyCorp’s price objective would indicate a potential upside of 23.31% from the stock’s current price.

A number of other research analysts have also recently commented on the stock. Mizuho upgraded shares of ConocoPhillips from a “neutral” rating to a “buy” rating and raised their price target for the stock from $36.00 to $56.00 in a research note on Tuesday, January 12th. Barclays upped their price objective on ConocoPhillips from $55.00 to $59.00 and gave the company an “overweight” rating in a report on Thursday, January 14th. The Goldman Sachs Group began coverage on ConocoPhillips in a report on Wednesday, February 3rd. They issued a “buy” rating for the company. Piper Sandler increased their price objective on ConocoPhillips from $50.00 to $69.00 and gave the stock an “overweight” rating in a report on Thursday, April 1st. Finally, Morgan Stanley increased their price target on ConocoPhillips from $58.00 to $73.00 and gave the company an “overweight” rating in a research report on Wednesday, March 17th. Four equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $53.92.

Shares of NYSE COP opened at $51.09 on Thursday. ConocoPhillips has a 12-month low of $27.53 and a 12-month high of $61.14. The company has a market cap of $71.53 million, a PE ratio of -45.21, a P/E/G ratio of 10.03 and a beta of 1.85. The stock has a 50 day simple moving average of $54.30 and a 200-day simple moving average of $43.46. The company has a current ratio of 2.38, a quick ratio of 2.16 and a debt-to-equity ratio of 0.48.

ConocoPhillips (NYSE:COP) last announced its earnings results on Monday, February 1st. The energy producer reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.06. ConocoPhillips had a negative net margin of 5.66% and a negative return on equity of 0.02%. The company had revenue of $6.05 billion for the quarter, compared to the consensus estimate of $4.69 billion. During the same period in the previous year, the business earned $0.76 EPS. Sell-side analysts forecast that ConocoPhillips will post -0.9 earnings per share for the current fiscal year.

A number of institutional investors have recently modified their holdings of COP. Edge Wealth Management LLC acquired a new stake in ConocoPhillips in the 1st quarter valued at about $26,000. Regent Peak Wealth Advisors LLC purchased a new stake in shares of ConocoPhillips during the 4th quarter worth $29,000. Cordasco Financial Network lifted its position in shares of ConocoPhillips by 200.0% during the 1st quarter. Cordasco Financial Network now owns 750 shares of the energy producer’s stock worth $40,000 after purchasing an additional 500 shares during the last quarter. Klaas Financial Asset Advisors LLC acquired a new stake in ConocoPhillips during the 4th quarter worth $31,000. Finally, DB Wealth Management Group LLC acquired a new position in ConocoPhillips in the fourth quarter valued at $35,000. 72.87% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Company Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations.

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Analyst Recommendations for ConocoPhillips (NYSE:COP)

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