Wells Fargo & Company Trims ConocoPhillips (NYSE:COP) Target Price to $132.00

ConocoPhillips (NYSE:COP) had its price objective reduced by analysts at Wells Fargo & Company from $150.00 to $132.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the energy producer’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 26.05% from the company’s current price.

Several other analysts also recently commented on COP. Susquehanna reduced their price objective on shares of ConocoPhillips from $154.00 to $147.00 and set a “positive” rating for the company in a research report on Wednesday, September 4th. UBS Group reduced their price target on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Argus raised shares of ConocoPhillips to a “strong-buy” rating in a research note on Friday, June 7th. Barclays increased their price objective on shares of ConocoPhillips from $158.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $140.00 target price on shares of ConocoPhillips in a research report on Friday, September 13th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, ConocoPhillips currently has a consensus rating of “Moderate Buy” and an average price target of $141.24.

ConocoPhillips Stock Performance

Shares of COP stock opened at $104.72 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.33 and a quick ratio of 1.19. ConocoPhillips has a one year low of $101.29 and a one year high of $135.18. The business’s 50 day simple moving average is $108.85 and its 200 day simple moving average is $116.32. The stock has a market capitalization of $121.61 billion, a PE ratio of 11.86, a PEG ratio of 0.85 and a beta of 1.22.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.02. The company had revenue of $14.14 billion during the quarter, compared to analysts’ expectations of $14.96 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. ConocoPhillips’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.84 earnings per share. As a group, research analysts forecast that ConocoPhillips will post 8.14 earnings per share for the current year.

Insider Activity at ConocoPhillips

In other news, Director Timothy A. Leach sold 55,500 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total value of $6,000,105.00. Following the transaction, the director now owns 455,909 shares of the company’s stock, valued at $49,288,321.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.34% of the stock is owned by company insiders.

Institutional Investors Weigh In On ConocoPhillips

Institutional investors and hedge funds have recently modified their holdings of the stock. Valued Wealth Advisors LLC increased its stake in ConocoPhillips by 45.8% during the 1st quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer’s stock valued at $33,000 after buying an additional 82 shares during the period. Astoria Portfolio Advisors LLC. boosted its holdings in ConocoPhillips by 4.0% during the first quarter. Astoria Portfolio Advisors LLC. now owns 2,232 shares of the energy producer’s stock worth $291,000 after buying an additional 85 shares in the last quarter. Manchester Capital Management LLC lifted its position in shares of ConocoPhillips by 22.1% during the 1st quarter. Manchester Capital Management LLC now owns 475 shares of the energy producer’s stock valued at $60,000 after acquiring an additional 86 shares during the last quarter. Adirondack Trust Co. boosted its stake in shares of ConocoPhillips by 3.1% during the 4th quarter. Adirondack Trust Co. now owns 2,990 shares of the energy producer’s stock worth $336,000 after acquiring an additional 90 shares in the last quarter. Finally, Mayfair Advisory Group LLC raised its position in shares of ConocoPhillips by 3.5% during the first quarter. Mayfair Advisory Group LLC now owns 2,627 shares of the energy producer’s stock worth $334,000 after purchasing an additional 90 shares during the period. 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.