ConocoPhillips (NYSE:COP) Rating Lowered to “Hold” at Zacks Research

ConocoPhillips (NYSE:COP) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other brokerages also recently issued reports on COP. UBS Group boosted their price target on ConocoPhillips from $130.00 to $144.00 and gave the company a “buy” rating in a report on Thursday, March 5th. Wells Fargo & Company increased their price target on shares of ConocoPhillips from $132.00 to $133.00 and gave the stock an “overweight” rating in a report on Friday, February 6th. Citigroup increased their price target on shares of ConocoPhillips from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, April 2nd. Barclays increased their price target on shares of ConocoPhillips from $136.00 to $155.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, Wolfe Research increased their price target on shares of ConocoPhillips from $138.00 to $144.00 and gave the stock an “outperform” rating in a report on Monday, April 6th. Seventeen research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $134.60.

ConocoPhillips Trading Down 0.2%

ConocoPhillips stock opened at $114.89 on Wednesday. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 52 week low of $84.33 and a 52 week high of $135.87. The company has a market capitalization of $139.97 billion, a price-to-earnings ratio of 19.51, a price-to-earnings-growth ratio of 1.29 and a beta of 0.14. The stock has a 50-day moving average price of $123.29 and a 200 day moving average price of $108.42.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.17. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The firm had revenue of $15.76 billion during the quarter, compared to the consensus estimate of $15.62 billion. During the same quarter in the previous year, the company posted $2.09 earnings per share. The company’s revenue was down 6.1% compared to the same quarter last year. Sell-side analysts anticipate that ConocoPhillips will post 9.92 EPS for the current year.

Insider Buying and Selling at ConocoPhillips

In other news, EVP Nicholas G. Olds sold 14,522 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $119.36, for a total transaction of $1,733,345.92. Following the completion of the transaction, the executive vice president directly owned 12,389 shares of the company’s stock, valued at $1,478,751.04. This represents a 53.96% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Kelly Brunetti Rose sold 8,500 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $118.04, for a total value of $1,003,340.00. Following the transaction, the senior vice president directly owned 32,984 shares of the company’s stock, valued at approximately $3,893,431.36. The trade was a 20.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 734,891 shares of company stock worth $93,345,692. 0.09% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in COP. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in shares of ConocoPhillips during the fourth quarter worth approximately $25,000. Cloud Capital Management LLC purchased a new stake in shares of ConocoPhillips during the third quarter worth approximately $26,000. KERR FINANCIAL PLANNING Corp purchased a new stake in shares of ConocoPhillips during the third quarter worth approximately $28,000. Board of the Pension Protection Fund purchased a new stake in shares of ConocoPhillips during the fourth quarter worth approximately $28,000. Finally, Strive Asset Management LLC acquired a new stake in shares of ConocoPhillips in the third quarter valued at about $28,000. 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.