ConocoPhillips (NYSE:COP) Upgraded by Mizuho to Outperform Rating

ConocoPhillips (NYSE:COP) was upgraded by stock analysts at Mizuho from a “neutral” rating to an “outperform” rating in a report released on Monday, Marketbeat Ratings reports. The firm currently has a $134.00 price target on the energy producer’s stock, up from their prior price target of $132.00. Mizuho’s price target suggests a potential upside of 32.65% from the company’s current price.

Several other brokerages also recently weighed in on COP. Evercore ISI reaffirmed an “outperform” rating and set a $165.00 target price on shares of ConocoPhillips in a research note on Friday, December 6th. BMO Capital Markets upped their price objective on shares of ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Scotiabank dropped their target price on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. Truist Financial decreased their price target on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Finally, Wells Fargo & Company raised their target price on shares of ConocoPhillips from $131.00 to $134.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, ConocoPhillips presently has an average rating of “Buy” and a consensus target price of $139.24.

ConocoPhillips Stock Performance

COP opened at $101.02 on Monday. The stock has a market cap of $116.26 billion, a P/E ratio of 12.01, a P/E/G ratio of 0.83 and a beta of 1.18. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. The firm has a fifty day moving average price of $107.76 and a 200 day moving average price of $109.64. ConocoPhillips has a 1 year low of $100.58 and a 1 year high of $135.18.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.10. The business had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The company’s revenue for the quarter was down 8.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.16 EPS. Equities research analysts anticipate that ConocoPhillips will post 7.77 earnings per share for the current year.

Institutional Trading of ConocoPhillips

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Tidal Investments LLC increased its stake in ConocoPhillips by 42.7% during the 3rd quarter. Tidal Investments LLC now owns 103,553 shares of the energy producer’s stock worth $10,902,000 after buying an additional 31,011 shares during the period. Alpha DNA Investment Management LLC increased its position in shares of ConocoPhillips by 83.8% during the second quarter. Alpha DNA Investment Management LLC now owns 16,427 shares of the energy producer’s stock worth $1,879,000 after acquiring an additional 7,490 shares during the period. Prospera Financial Services Inc raised its stake in shares of ConocoPhillips by 23.6% in the third quarter. Prospera Financial Services Inc now owns 71,097 shares of the energy producer’s stock valued at $7,488,000 after acquiring an additional 13,595 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in ConocoPhillips by 1.9% in the third quarter. The Manufacturers Life Insurance Company now owns 2,489,514 shares of the energy producer’s stock valued at $262,094,000 after purchasing an additional 46,621 shares during the period. Finally, Pacer Advisors Inc. grew its stake in ConocoPhillips by 5,422.3% during the 3rd quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer’s stock worth $482,996,000 after purchasing an additional 4,504,653 shares in the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

About ConocoPhillips

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.