ConocoPhillips (NYSE:COP) had its price target boosted by UBS Group from $50.00 to $62.00 in a report published on Monday morning, BenzingaRatingsTable reports. They currently have a buy rating on the energy producer’s stock.
A number of other analysts have also weighed in on the stock. Morgan Stanley decreased their target price on shares of ConocoPhillips from $79.00 to $40.00 and set an overweight rating on the stock in a report on Monday, March 16th. Piper Sandler upped their target price on shares of ConocoPhillips from $43.00 to $49.00 and gave the stock an overweight rating in a report on Tuesday, May 26th. TheStreet cut shares of ConocoPhillips from a b- rating to a c+ rating in a research note on Thursday, March 12th. Argus boosted their price target on shares of ConocoPhillips from $42.00 to $50.00 and gave the stock a buy rating in a research note on Monday, May 11th. Finally, Bank of America cut shares of ConocoPhillips from a buy rating to a neutral rating and boosted their price target for the stock from $43.00 to $46.00 in a research note on Friday, May 1st. They noted that the move was a valuation call. Five investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. ConocoPhillips presently has an average rating of Buy and an average target price of $57.70.
NYSE COP opened at $41.78 on Monday. The company’s 50 day moving average is $43.43 and its 200-day moving average is $47.76. ConocoPhillips has a 12-month low of $20.84 and a 12-month high of $67.13. The company has a quick ratio of 2.04, a current ratio of 2.16 and a debt-to-equity ratio of 0.47. The firm has a market cap of $43.69 billion, a P/E ratio of 13.10 and a beta of 1.70.
In related news, Director David Thomas Seaton acquired 2,400 shares of the firm’s stock in a transaction on Wednesday, May 13th. The stock was acquired at an average cost of $41.03 per share, for a total transaction of $98,472.00. Following the acquisition, the director now owns 2,500 shares of the company’s stock, valued at $102,575. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.70% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. raised its holdings in ConocoPhillips by 8.6% in the 1st quarter. BlackRock Inc. now owns 86,102,053 shares of the energy producer’s stock worth $2,651,945,000 after purchasing an additional 6,842,989 shares in the last quarter. State Street Corp raised its holdings in ConocoPhillips by 5.3% in the 1st quarter. State Street Corp now owns 53,080,153 shares of the energy producer’s stock worth $1,634,869,000 after purchasing an additional 2,693,223 shares in the last quarter. Capital International Investors raised its holdings in ConocoPhillips by 41.4% in the 1st quarter. Capital International Investors now owns 25,605,628 shares of the energy producer’s stock worth $788,651,000 after purchasing an additional 7,497,157 shares in the last quarter. Capital World Investors increased its stake in shares of ConocoPhillips by 7.6% in the 4th quarter. Capital World Investors now owns 19,480,517 shares of the energy producer’s stock worth $1,266,817,000 after acquiring an additional 1,379,501 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of ConocoPhillips by 999.1% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 16,516,842 shares of the energy producer’s stock worth $508,719,000 after acquiring an additional 15,014,026 shares in the last quarter. Institutional investors and hedge funds own 72.35% of the company’s stock.
ConocoPhillips Company Profile
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the tight oil reservoirs, LNG, oil sands, and other production operations. Its portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.
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