ConocoPhillips (NYSE:COP) Price Target Lowered to $115.00 at Truist Financial

ConocoPhillips (NYSE:COP) had its target price dropped by research analysts at Truist Financial from $128.00 to $115.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “hold” rating on the energy producer’s stock. Truist Financial’s price objective suggests a potential upside of 4.04% from the stock’s current price.

A number of other research analysts also recently commented on COP. Raymond James Financial lowered their price objective on shares of ConocoPhillips from $145.00 to $142.00 and set an “outperform” rating on the stock in a research report on Monday, June 1st. Citigroup lifted their target price on shares of ConocoPhillips from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, April 2nd. Piper Sandler boosted their price target on ConocoPhillips from $154.00 to $157.00 and gave the company an “overweight” rating in a research note on Wednesday, April 8th. Barclays increased their target price on shares of ConocoPhillips from $136.00 to $155.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Finally, Royal Bank Of Canada set a $130.00 price objective on shares of ConocoPhillips in a research note on Monday, June 22nd. Eighteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $134.08.

ConocoPhillips Stock Up 1.9%

NYSE:COP traded up $2.09 during trading hours on Wednesday, hitting $110.53. 1,299,079 shares of the company’s stock traded hands, compared to its average volume of 8,859,349. The firm has a market cap of $134.66 billion, a P/E ratio of 18.81, a P/E/G ratio of 1.19 and a beta of 0.12. ConocoPhillips has a twelve month low of $85.57 and a twelve month high of $135.87. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29. The stock’s fifty day moving average price is $115.08 and its two-hundred day moving average price is $112.44.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.17. The firm had revenue of $15.76 billion during the quarter, compared to analyst estimates of $15.62 billion. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The business’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same period last year, the company posted $2.09 EPS. On average, research analysts expect that ConocoPhillips will post 9.66 earnings per share for the current fiscal year.

Institutional Trading of ConocoPhillips

Hedge funds have recently modified their holdings of the company. Patten Group Inc. raised its holdings in shares of ConocoPhillips by 1.5% in the first quarter. Patten Group Inc. now owns 5,447 shares of the energy producer’s stock valued at $719,000 after buying an additional 83 shares during the last quarter. IFC Advisors LLC lifted its stake in shares of ConocoPhillips by 0.4% in the 1st quarter. IFC Advisors LLC now owns 20,182 shares of the energy producer’s stock valued at $2,664,000 after purchasing an additional 84 shares during the period. Cornerstone Planning Group LLC increased its holdings in ConocoPhillips by 9.6% in the first quarter. Cornerstone Planning Group LLC now owns 1,006 shares of the energy producer’s stock valued at $124,000 after purchasing an additional 88 shares during the last quarter. Blue Trust Inc. lifted its stake in ConocoPhillips by 0.4% in the first quarter. Blue Trust Inc. now owns 21,144 shares of the energy producer’s stock valued at $2,791,000 after buying an additional 92 shares during the period. Finally, Sigma Planning Corp boosted its holdings in ConocoPhillips by 0.6% during the first quarter. Sigma Planning Corp now owns 16,062 shares of the energy producer’s stock worth $2,120,000 after buying an additional 94 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

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.