JPMorgan Chase & Co. Cuts ConocoPhillips (NYSE:COP) Price Target to $115.00

ConocoPhillips (NYSE:COP - Get Free Report) had its price target lowered by equities research analysts at JPMorgan Chase & Co. from $127.00 to $115.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the energy producer's stock. JPMorgan Chase & Co.'s price target would suggest a potential upside of 18.05% from the stock's current price.

Several other analysts also recently weighed in on COP. Piper Sandler reduced their price objective on shares of ConocoPhillips from $135.00 to $114.00 and set an "overweight" rating for the company in a research report on Thursday, December 19th. Morgan Stanley assumed coverage on shares of ConocoPhillips in a research note on Monday, December 16th. They issued an "overweight" rating and a $128.00 price objective on the stock. Truist Financial boosted their price objective on shares of ConocoPhillips from $138.00 to $139.00 and gave the company a "buy" rating in a research note on Monday, January 13th. Evercore ISI reaffirmed an "outperform" rating and set a $165.00 price target on shares of ConocoPhillips in a research note on Friday, December 6th. Finally, Wells Fargo & Company lowered their price target on shares of ConocoPhillips from $132.00 to $128.00 and set an "overweight" rating on the stock in a research note on Monday, February 10th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $133.05.

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ConocoPhillips Trading Down 0.3 %

COP stock traded down $0.34 during mid-day trading on Thursday, hitting $97.42. 6,594,043 shares of the company were exchanged, compared to its average volume of 6,220,831. The firm has a market capitalization of $123.95 billion, a P/E ratio of 12.49, a PEG ratio of 0.79 and a beta of 1.12. ConocoPhillips has a 12-month low of $86.81 and a 12-month high of $135.18. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The business has a fifty day simple moving average of $99.34 and a 200-day simple moving average of $104.03.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its quarterly earnings results 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 net margin of 16.23% and a return on equity of 17.26%. On average, equities research analysts predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Arjun N. Murti purchased 2,500 shares of ConocoPhillips stock in a transaction dated Friday, December 20th. The stock was acquired at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the acquisition, the director now directly owns 21,500 shares in the company, valued at $2,061,205. This represents a 13.16 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director R A. Walker purchased 10,400 shares of ConocoPhillips stock in a transaction dated Tuesday, December 17th. The shares were purchased at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the acquisition, the director now owns 38,000 shares in the company, valued at $3,716,400. The trade was a 37.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.34% of the company's stock.

Institutional Investors Weigh In On ConocoPhillips

Several institutional investors have recently made changes to their positions in the company. Albion Financial Group UT raised its stake in shares of ConocoPhillips by 876.9% in the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer's stock valued at $25,000 after acquiring an additional 228 shares in the last quarter. Murphy & Mullick Capital Management Corp bought a new position in shares of ConocoPhillips in the 4th quarter valued at approximately $26,000. Centricity Wealth Management LLC bought a new position in shares of ConocoPhillips in the 4th quarter valued at approximately $27,000. 10Elms LLP bought a new position in shares of ConocoPhillips in the 4th quarter valued at approximately $28,000. Finally, Truvestments Capital LLC bought a new position in shares of ConocoPhillips in the 3rd quarter valued at approximately $31,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

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.

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