ConocoPhillips (NYSE:COP) Earns Buy Rating from Analysts at TD Cowen

Stock analysts at TD Cowen initiated coverage on shares of ConocoPhillips (NYSE:COP) in a research report issued on Friday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $125.00 price target on the energy producer’s stock. TD Cowen’s target price would suggest a potential upside of 18.35% from the stock’s current price.

Several other equities analysts have also issued reports on the stock. Mizuho raised shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $132.00 to $134.00 in a report on Monday, December 16th. Scotiabank lowered their price target on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. Evercore ISI reaffirmed an “outperform” rating and set a $165.00 price target on shares of ConocoPhillips in a research report on Friday, December 6th. BMO Capital Markets boosted their price objective on ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Finally, Susquehanna lifted their price target on shares of ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research note on Friday, November 1st. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $136.00.

ConocoPhillips Stock Up 0.1 %

Shares of NYSE:COP opened at $105.62 on Friday. 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 stock has a market cap of $121.56 billion, a price-to-earnings ratio of 12.56, a P/E/G ratio of 0.81 and a beta of 1.19. The company has a 50 day moving average of $104.05 and a 200-day moving average of $107.54. ConocoPhillips has a one year low of $94.23 and a one year high of $135.18.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, beating the consensus estimate of $1.68 by $0.10. The company had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The business’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.16 EPS. On average, sell-side analysts forecast that ConocoPhillips will post 7.7 earnings per share for the current year.

Insider Activity

In related news, Director R A. Walker acquired 10,400 shares of ConocoPhillips stock in a transaction dated Tuesday, December 17th. The stock was bought at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the transaction, the director now directly owns 38,000 shares in the company, valued at $3,716,400. This represents a 37.68 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Arjun N. Murti purchased 2,500 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was bought at an average cost of $95.87 per share, with a total value of $239,675.00. Following the completion of the purchase, the director now owns 21,500 shares of the company’s stock, valued at approximately $2,061,205. This represents a 13.16 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On ConocoPhillips

Several large investors have recently made changes to their positions in COP. Tidal Investments LLC lifted its holdings in ConocoPhillips by 42.7% during the third quarter. Tidal Investments LLC now owns 103,553 shares of the energy producer’s stock valued at $10,902,000 after purchasing an additional 31,011 shares during the last quarter. Alpha DNA Investment Management LLC increased its position in shares of ConocoPhillips by 83.8% in the second quarter. Alpha DNA Investment Management LLC now owns 16,427 shares of the energy producer’s stock worth $1,879,000 after purchasing an additional 7,490 shares during the last quarter. Prospera Financial Services Inc raised its stake in 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 purchasing an additional 13,595 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in ConocoPhillips by 1.9% during 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 last quarter. Finally, Pacer Advisors Inc. grew its stake in ConocoPhillips by 5,422.3% in the 3rd quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer’s stock worth $482,996,000 after buying an additional 4,504,653 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Company Profile

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.