ConocoPhillips (NYSE:COP) Given New $116.00 Price Target at Wells Fargo & Company

ConocoPhillips (NYSE:COP) had its price objective lowered by Wells Fargo & Company from $131.00 to $116.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the energy producer’s stock. Wells Fargo & Company‘s target price points to a potential upside of 34.38% from the stock’s current price.

Several other equities research analysts have also recently commented on COP. Royal Bank of Canada lowered their price target on ConocoPhillips from $133.00 to $120.00 and set an “outperform” rating for the company in a research note on Monday. Mizuho raised shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $132.00 to $134.00 in a research report on Monday, December 16th. JPMorgan Chase & Co. cut their price target on shares of ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. TD Cowen started coverage on shares of ConocoPhillips in a report on Friday, January 17th. They issued a “buy” rating and a $125.00 price objective for the company. Finally, The Goldman Sachs Group set a $132.00 target price on shares of ConocoPhillips in a research report on Thursday, January 30th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $128.32.

ConocoPhillips Stock Up 0.7 %

COP stock opened at $86.32 on Tuesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. The firm has a market capitalization of $109.12 billion, a P/E ratio of 11.08, a P/E/G ratio of 0.79 and a beta of 0.83. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $130.77. The company’s 50 day simple moving average is $95.71 and its 200-day simple moving average is $101.69.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, topping analysts’ consensus estimates 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, equities research analysts anticipate that ConocoPhillips will post 8.16 EPS for the current year.

Hedge Funds Weigh In On ConocoPhillips

A number of institutional investors have recently added to or reduced their stakes in the stock. Albion Financial Group UT raised its holdings in ConocoPhillips by 876.9% in the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after buying an additional 228 shares during the last quarter. Murphy & Mullick Capital Management Corp acquired a new position in ConocoPhillips in the 4th quarter valued at approximately $26,000. Centricity Wealth Management LLC bought a new position in shares of ConocoPhillips during the fourth quarter valued at $27,000. 10Elms LLP acquired a new position in shares of ConocoPhillips during the fourth quarter worth $28,000. Finally, Crowley Wealth Management Inc. bought a new stake in shares of ConocoPhillips in the fourth quarter worth $32,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

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.