Royal Bank Of Canada Issues Positive Forecast for ConocoPhillips (NYSE:COP) Stock Price

ConocoPhillips (NYSE:COP) had its price target lifted by research analysts at Royal Bank Of Canada from $118.00 to $152.00 in a note issued to investors on Wednesday,MarketScreener reports. The firm currently has an “outperform” rating on the energy producer’s stock. Royal Bank Of Canada’s price target points to a potential upside of 15.63% from the stock’s current price.

A number of other equities research analysts also recently weighed in on COP. BMO Capital Markets raised their price target on ConocoPhillips from $130.00 to $140.00 and gave the company an “outperform” rating in a research report on Tuesday. Zacks Research upgraded ConocoPhillips from a “strong sell” rating to a “hold” rating in a report on Monday, March 30th. Jefferies Financial Group increased their price objective on ConocoPhillips from $120.00 to $129.00 and gave the company a “buy” rating in a research report on Monday, February 23rd. Roth Mkm downgraded ConocoPhillips from a “buy” rating to a “neutral” rating and set a $112.00 target price for the company. in a research report on Tuesday, February 17th. Finally, Capital One Financial upped their target price on ConocoPhillips from $116.00 to $156.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 26th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $127.08.

ConocoPhillips Stock Down 0.1%

COP stock opened at $131.45 on Wednesday. The stock has a 50-day simple moving average of $117.22 and a two-hundred day simple moving average of $101.02. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $135.87. The firm has a market capitalization of $160.22 billion, a PE ratio of 20.73, a PEG ratio of 2.53 and a beta of 0.19. The company has a quick ratio of 1.14, a current ratio of 1.30 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, February 5th. The energy producer reported $1.02 EPS for the quarter, missing the consensus estimate 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 period in the prior year, the firm posted $1.98 EPS. ConocoPhillips’s revenue was down 3.7% on a year-over-year basis. On average, equities analysts predict that ConocoPhillips will post 8.16 EPS for the current fiscal year.

Insiders Place Their Bets

In other ConocoPhillips news, Director Timothy A. Leach sold 40,000 shares of the business’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $118.79, for a total value of $4,751,600.00. Following the completion of the sale, the director owned 411,211 shares in the company, valued at approximately $48,847,754.69. The trade was a 8.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Kelly Brunetti Rose sold 8,500 shares of the firm’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 transaction of $1,003,340.00. Following the completion of the transaction, the senior vice president owned 32,984 shares in the company, valued at $3,893,431.36. This represents a 20.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 734,891 shares of company stock worth $93,345,692. 0.24% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ConocoPhillips

Hedge funds have recently added to or reduced their stakes in the stock. McAlvany Wealth Management LLC bought a new stake in shares of ConocoPhillips in the fourth quarter worth $2,802,000. World Investment Advisors increased its holdings in ConocoPhillips by 3.9% during the fourth quarter. World Investment Advisors now owns 75,617 shares of the energy producer’s stock valued at $7,078,000 after buying an additional 2,821 shares during the last quarter. Larry Mathis Financial Planning LLC purchased a new position in shares of ConocoPhillips during the 4th quarter worth $470,000. Union Savings Bank purchased a new position in shares of ConocoPhillips during the 4th quarter worth $148,000. Finally, Hsbc Holdings PLC grew its position in shares of ConocoPhillips by 7.4% during the 4th quarter. Hsbc Holdings PLC now owns 2,992,999 shares of the energy producer’s stock valued at $280,192,000 after acquiring an additional 207,459 shares during the period. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

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.