Several other research analysts have also recently commented on COP. Societe Generale cut shares of ConocoPhillips from a hold rating to a sell rating and increased their target price for the stock from $106.00 to $114.00 in a report on Monday. They noted that the move was a valuation call. Erste Group Bank upgraded shares of ConocoPhillips from a hold rating to a buy rating in a report on Wednesday, October 5th. Royal Bank of Canada increased their target price on shares of ConocoPhillips from $135.00 to $140.00 and gave the stock an outperform rating in a report on Monday, November 7th. MKM Partners increased their target price on shares of ConocoPhillips from $110.00 to $118.00 and gave the stock a buy rating in a report on Friday, August 26th. Finally, Barclays reduced their target price on shares of ConocoPhillips from $153.00 to $135.00 and set an overweight rating for the company in a report on Wednesday, October 19th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $133.76.
ConocoPhillips Stock Down 2.5 %
ConocoPhillips stock opened at $126.74 on Monday. The stock has a market capitalization of $157.93 billion, a PE ratio of 9.13, a price-to-earnings-growth ratio of 0.46 and a beta of 1.32. ConocoPhillips has a twelve month low of $66.06 and a twelve month high of $138.49. The company has a quick ratio of 1.37, a current ratio of 1.46 and a debt-to-equity ratio of 0.33. The company has a 50 day moving average of $120.51 and a 200-day moving average of $108.00.
ConocoPhillips Increases Dividend
In other news, EVP Nicholas G. Olds sold 10,950 shares of the stock in a transaction dated Tuesday, November 8th. The shares were sold at an average price of $134.90, for a total value of $1,477,155.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.08% of the company’s stock.
Hedge Funds Weigh In On ConocoPhillips
Several large investors have recently modified their holdings of COP. Toroso Investments LLC grew its stake in shares of ConocoPhillips by 23.3% in the third quarter. Toroso Investments LLC now owns 128,889 shares of the energy producer’s stock valued at $13,191,000 after acquiring an additional 24,335 shares in the last quarter. Eagle Bay Advisors LLC grew its stake in shares of ConocoPhillips by 6.1% in the third quarter. Eagle Bay Advisors LLC now owns 1,916 shares of the energy producer’s stock valued at $196,000 after acquiring an additional 110 shares in the last quarter. Continental Investors Services Inc. acquired a new position in shares of ConocoPhillips in the third quarter valued at about $698,000. IHT Wealth Management LLC grew its stake in shares of ConocoPhillips by 29.6% in the third quarter. IHT Wealth Management LLC now owns 9,113 shares of the energy producer’s stock valued at $933,000 after acquiring an additional 2,083 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. grew its stake in shares of ConocoPhillips by 46.5% in the third quarter. B. Riley Wealth Advisors Inc. now owns 42,737 shares of the energy producer’s stock valued at $4,375,000 after acquiring an additional 13,562 shares in the last quarter. 79.66% of the stock is owned by institutional investors.
ConocoPhillips Company Profile
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. It primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations. The company's 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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