ConocoPhillips (NYSE:COP) Coverage Initiated at UBS Group

Posted by on Apr 20th, 2023

Analysts at UBS Group began coverage on shares of ConocoPhillips (NYSE:COP – Get Rating) in a research report issued on Wednesday, Briefing.com reports. The firm set a “buy” rating and a $139.00 price target on the energy producer’s stock. UBS Group’s target price would suggest a potential upside of 32.05% from the stock’s current price.

A number of other brokerages have also issued reports on COP. StockNews.com began coverage on shares of ConocoPhillips in a report on Thursday, March 16th. They issued a “hold” rating for the company. Wolfe Research lowered shares of ConocoPhillips from an “outperform” rating to a “peer perform” rating in a report on Thursday, January 12th. Societe Generale raised shares of ConocoPhillips from a “sell” rating to a “hold” rating and set a $105.00 price objective for the company in a report on Wednesday, April 5th. Morgan Stanley upped their price objective on shares of ConocoPhillips from $115.00 to $122.00 and gave the company an “overweight” rating in a report on Friday, April 14th. Finally, Scotiabank lowered shares of ConocoPhillips from a “sector outperform” rating to a “sector perform” rating and dropped their price objective for the company from $145.00 to $140.00 in a report on Tuesday, January 17th. Six equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $136.81.

ConocoPhillips Price Performance

ConocoPhillips stock opened at $105.26 on Wednesday. ConocoPhillips has a 52-week low of $78.30 and a 52-week high of $138.49. The firm has a market capitalization of $127.56 billion, a price-to-earnings ratio of 7.25, a PEG ratio of 0.56 and a beta of 1.30. The company has a fifty day simple moving average of $104.45 and a 200-day simple moving average of $114.81. The company has a quick ratio of 1.36, a current ratio of 1.46 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP – Get Rating) last released its earnings results on Thursday, February 2nd. The energy producer reported $2.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.72 by ($0.01). ConocoPhillips had a return on equity of 35.30% and a net margin of 22.74%. The business had revenue of $19.26 billion for the quarter, compared to analysts’ expectations of $18.16 billion. During the same period in the previous year, the company earned $2.27 EPS. ConocoPhillips’s quarterly revenue was up 20.7% compared to the same quarter last year. On average, equities analysts anticipate that ConocoPhillips will post 10.48 EPS for the current fiscal year.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, Director R A. Walker purchased 4,800 shares of ConocoPhillips stock in a transaction dated Wednesday, February 22nd. The shares were acquired at an average price of $103.00 per share, with a total value of $494,400.00. Following the completion of the transaction, the director now owns 27,600 shares of the company’s stock, valued at $2,842,800. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.40% of the company’s stock.

Institutional Trading of ConocoPhillips

Several hedge funds have recently added to or reduced their stakes in the company. Oak Harbor Wealth Partners LLC raised its holdings in ConocoPhillips by 2.9% in the third quarter. Oak Harbor Wealth Partners LLC now owns 2,619 shares of the energy producer’s stock valued at $268,000 after acquiring an additional 75 shares in the last quarter. First National Trust Co raised its holdings in ConocoPhillips by 2.5% in the third quarter. First National Trust Co now owns 3,345 shares of the energy producer’s stock valued at $342,000 after acquiring an additional 80 shares in the last quarter. Denver Wealth Management Inc. raised its holdings in ConocoPhillips by 3.2% in the third quarter. Denver Wealth Management Inc. now owns 2,548 shares of the energy producer’s stock valued at $261,000 after acquiring an additional 80 shares in the last quarter. BBR Partners LLC raised its holdings in ConocoPhillips by 2.4% in the third quarter. BBR Partners LLC now owns 3,559 shares of the energy producer’s stock valued at $364,000 after acquiring an additional 84 shares in the last quarter. Finally, Atwood & Palmer Inc. raised its holdings in ConocoPhillips by 14.4% in the fourth quarter. Atwood & Palmer Inc. now owns 668 shares of the energy producer’s stock valued at $79,000 after acquiring an additional 84 shares in the last quarter. Institutional investors and hedge funds own 81.76% of the company’s stock.

About ConocoPhillips

(Get Rating)

ConocoPhillips engages in the exploration, production, transportation and marketing of crude oil, bitumen, natural gas, natural gas liquids, and liquefied natural gas on a worldwide basis. It operates through the following geographical segments: Alaska, Lower 48, Canada, Europe, Middle East and North Africa, Asia Pacific, and Other International.

Read More

Analyst Recommendations for ConocoPhillips (NYSE:COP)

Receive News & Ratings for ConocoPhillips Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ConocoPhillips and related companies with MarketBeat.com's FREE daily email newsletter.