Barclays Cuts ConocoPhillips (NYSE:COP) Price Target to $120.00

ConocoPhillips (NYSE:COP - Get Free Report) had its target price decreased by Barclays from $135.00 to $120.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the energy producer's stock. Barclays's price objective points to a potential upside of 30.49% from the company's current price.

COP has been the subject of a number of other reports. Wells Fargo & Company cut their price target on ConocoPhillips from $131.00 to $116.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. UBS Group decreased their price objective on shares of ConocoPhillips from $116.00 to $111.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Raymond James cut ConocoPhillips from a "strong-buy" rating to an "outperform" rating and reduced their price target for the stock from $157.00 to $124.00 in a research report on Monday, February 10th. Scotiabank lowered their target price on shares of ConocoPhillips from $115.00 to $95.00 and set a "sector perform" rating on the stock in a research note on Friday, April 11th. Finally, TD Cowen initiated coverage on ConocoPhillips in a research report on Friday, January 17th. They issued a "buy" rating and a $125.00 price target on the stock. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $126.89.

ConocoPhillips Stock Up 0.2 %

Shares of COP traded up $0.16 during mid-day trading on Wednesday, reaching $91.96. The company's stock had a trading volume of 2,730,779 shares, compared to its average volume of 7,132,589. The company has a market cap of $116.25 billion, a price-to-earnings ratio of 11.80, a price-to-earnings-growth ratio of 0.79 and a beta of 0.83. The business has a fifty day moving average of $94.67 and a 200 day moving average of $100.80. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $130.77.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. As a group, analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ConocoPhillips

Large investors have recently made changes to their positions in the company. Orrstown Financial Services Inc. increased its holdings in shares of ConocoPhillips by 3.0% during the fourth quarter. Orrstown Financial Services Inc. now owns 3,342 shares of the energy producer's stock worth $331,000 after buying an additional 96 shares in the last quarter. Principle Wealth Partners LLC increased its holdings in ConocoPhillips by 0.3% during the 4th quarter. Principle Wealth Partners LLC now owns 37,255 shares of the energy producer's stock valued at $3,695,000 after purchasing an additional 100 shares in the last quarter. Arlington Trust Co LLC increased its holdings in ConocoPhillips by 1.2% during the 4th quarter. Arlington Trust Co LLC now owns 8,640 shares of the energy producer's stock valued at $857,000 after purchasing an additional 102 shares in the last quarter. Courier Capital LLC raised its position in ConocoPhillips by 0.5% in the 4th quarter. Courier Capital LLC now owns 20,481 shares of the energy producer's stock valued at $2,031,000 after purchasing an additional 103 shares during the last quarter. Finally, Gray Wealth Management Inc. boosted its stake in ConocoPhillips by 5.0% in the fourth quarter. Gray Wealth Management Inc. now owns 2,171 shares of the energy producer's stock worth $215,000 after purchasing an additional 104 shares in the last quarter. Institutional investors own 82.36% 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 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.