JPMorgan Chase & Co. Reiterates Neutral Rating for ConocoPhillips (NYSE:COP)

ConocoPhillips (NYSE:COP)‘s stock had its “neutral” rating reaffirmed by JPMorgan Chase & Co. in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $126.00 price target on the energy producer’s stock, down from their previous price target of $139.00. JPMorgan Chase & Co.‘s price target points to a potential upside of 12.64% from the stock’s previous close.

COP has been the subject of several other research reports. 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 note on Wednesday, September 4th. Truist Financial reduced their price target on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Barclays lowered their price objective on ConocoPhillips from $156.00 to $135.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $140.00 target price on shares of ConocoPhillips in a research report on Friday, September 13th. Finally, Wolfe Research assumed coverage on ConocoPhillips in a report on Thursday, July 18th. They issued an “outperform” rating and a $145.00 price target for the company. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, ConocoPhillips presently has a consensus rating of “Moderate Buy” and an average target price of $137.12.

ConocoPhillips Stock Up 0.8 %

Shares of NYSE COP opened at $111.86 on Friday. ConocoPhillips has a 12-month low of $101.29 and a 12-month high of $135.18. The stock’s fifty day simple moving average is $108.96 and its two-hundred day simple moving average is $115.73. The stock has a market capitalization of $129.90 billion, a PE ratio of 12.47, a price-to-earnings-growth ratio of 0.88 and a beta of 1.21. The company has a current ratio of 1.33, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, beating analysts’ consensus estimates of $1.96 by $0.02. The company had revenue of $14.14 billion for the quarter, compared to the consensus estimate of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.84 earnings per share. As a group, analysts expect that ConocoPhillips will post 8.02 EPS for the current fiscal year.

Insider Activity at ConocoPhillips

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the sale, the director now directly owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.34% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ConocoPhillips

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Cooksen Wealth LLC purchased a new stake in ConocoPhillips during the fourth quarter worth $27,000. Stephens Consulting LLC boosted its stake in shares of ConocoPhillips by 69.3% during the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after acquiring an additional 104 shares in the last quarter. Richardson Capital Management LLC acquired a new stake in shares of ConocoPhillips during the 1st quarter valued at about $31,000. Northwest Bank & Trust Co purchased a new position in shares of ConocoPhillips in the 4th quarter valued at about $32,000. Finally, Ruedi Wealth Management Inc. raised its holdings in ConocoPhillips by 150.0% in the 1st quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock worth $32,000 after purchasing an additional 150 shares during the period. Institutional investors and hedge funds 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.