UBS Group Cuts ConocoPhillips (NYSE:COP) Price Target to $137.00

ConocoPhillips (NYSE:COP) had its price target decreased by research analysts at UBS Group from $140.00 to $137.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the energy producer’s stock. UBS Group’s target price would indicate a potential upside of 37.14% from the company’s previous close.

Several other research analysts have also issued reports on the company. Raymond James lowered ConocoPhillips from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the stock from $157.00 to $124.00 in a research note on Monday. Morgan Stanley assumed coverage on ConocoPhillips in a report on Monday, December 16th. They set an “overweight” rating and a $128.00 target price on the stock. Piper Sandler reduced their price objective on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. TD Cowen began coverage on ConocoPhillips in a research report on Friday, January 17th. They set a “buy” rating and a $125.00 price objective for the company. Finally, Susquehanna lifted their target price on ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $133.56.

ConocoPhillips Stock Performance

ConocoPhillips stock traded down $1.81 during trading hours on Wednesday, reaching $99.90. 2,049,566 shares of the company were exchanged, compared to its average volume of 6,191,594. The firm has a market cap of $114.97 billion, a price-to-earnings ratio of 12.83, a PEG ratio of 0.77 and a beta of 1.18. The company has a current ratio of 1.29, a quick ratio of 1.16 and a debt-to-equity ratio of 0.36. The stock has a 50-day moving average of $100.83 and a 200 day moving average of $105.97. ConocoPhillips has a 12 month low of $94.23 and a 12 month high of $135.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. As a group, research analysts anticipate that ConocoPhillips will post 8.3 earnings per share for the current year.

Insider Buying and Selling at ConocoPhillips

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

Hedge Funds Weigh In On ConocoPhillips

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in COP. Albion Financial Group UT grew its position in ConocoPhillips by 876.9% during the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after purchasing an additional 228 shares during the period. Values First Advisors Inc. purchased a new position in ConocoPhillips in the 3rd quarter valued at about $26,000. Murphy & Mullick Capital Management Corp purchased a new position in ConocoPhillips in the 4th quarter worth approximately $26,000. Centricity Wealth Management LLC purchased a new position in ConocoPhillips in the 4th quarter worth approximately $27,000. Finally, Reston Wealth Management LLC purchased a new stake in shares of ConocoPhillips during the 3rd quarter valued at approximately $31,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

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.