JPMorgan Chase & Co. Cuts ConocoPhillips (NYSE:COP) Price Target to $98.00

ConocoPhillips (NYSE:COP) had its price objective dropped by research analysts at JPMorgan Chase & Co. from $102.00 to $98.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the energy producer’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 0.81% from the company’s previous close.

A number of other analysts have also recently commented on the company. Jefferies Financial Group reaffirmed a “buy” rating on shares of ConocoPhillips in a research report on Monday, December 15th. Mizuho lifted their price objective on shares of ConocoPhillips from $120.00 to $121.00 and gave the company an “outperform” rating in a research note on Friday, December 12th. Wells Fargo & Company initiated coverage on shares of ConocoPhillips in a research note on Friday, October 17th. They issued an “equal weight” rating and a $100.00 price objective on the stock. Royal Bank Of Canada boosted their target price on shares of ConocoPhillips from $113.00 to $118.00 and gave the company an “outperform” rating in a research report on Monday, October 13th. Finally, Wolfe Research lowered their price target on shares of ConocoPhillips from $131.00 to $126.00 and set an “outperform” rating on the stock in a report on Monday, January 5th. Eighteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $111.76.

ConocoPhillips Stock Up 1.8%

NYSE COP traded up $1.72 on Tuesday, reaching $97.22. 1,244,714 shares of the stock traded hands, compared to its average volume of 8,679,849. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $106.20. The company has a market cap of $120.13 billion, a price-to-earnings ratio of 13.74, a PEG ratio of 2.64 and a beta of 0.32. The company has a fifty day moving average price of $91.74 and a 200-day moving average price of $92.71. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.18 and a current ratio of 1.32.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, November 6th. The energy producer reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.20. ConocoPhillips had a return on equity of 13.64% and a net margin of 14.25%.The company had revenue of $15.03 billion for the quarter, compared to the consensus estimate of $14.51 billion. During the same quarter last year, the company earned $1.78 earnings per share. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. As a group, research analysts forecast that ConocoPhillips will post 8.16 EPS for the current fiscal year.

Insider Activity at ConocoPhillips

In other news, Director William H. Mcraven acquired 5,768 shares of ConocoPhillips stock in a transaction that occurred on Monday, November 10th. The stock was purchased at an average cost of $86.68 per share, with a total value of $499,970.24. Following the completion of the acquisition, the director owned 5,768 shares in the company, valued at $499,970.24. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Ryan Michael Lance sold 500,708 shares of the firm’s 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 directly owned 325,972 shares of the company’s stock, valued at $30,152,410. The trade was a 60.57% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.24% of the company’s stock.

Institutional Investors Weigh In On ConocoPhillips

Institutional investors have recently bought and sold shares of the business. Navalign LLC lifted its holdings in ConocoPhillips by 1.1% in the 2nd quarter. Navalign LLC now owns 9,918 shares of the energy producer’s stock worth $890,000 after buying an additional 108 shares in the last quarter. Greenfield Savings Bank raised its position in shares of ConocoPhillips by 1.2% during the 3rd quarter. Greenfield Savings Bank now owns 9,018 shares of the energy producer’s stock worth $853,000 after purchasing an additional 108 shares during the period. Tritonpoint Wealth LLC lifted its stake in ConocoPhillips by 1.3% in the second quarter. Tritonpoint Wealth LLC now owns 8,329 shares of the energy producer’s stock valued at $747,000 after buying an additional 110 shares during the last quarter. Iowa State Bank boosted its stake in ConocoPhillips by 0.5% during the 2nd quarter. Iowa State Bank now owns 22,193 shares of the energy producer’s stock valued at $1,992,000 after purchasing an additional 110 shares during the period. Finally, Perennial Investment Advisors LLC grew its holdings in ConocoPhillips by 2.8% in the 2nd quarter. Perennial Investment Advisors LLC now owns 4,097 shares of the energy producer’s stock worth $368,000 after buying an additional 112 shares in the last quarter. 82.36% of the stock is currently owned by hedge funds and other 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.