Wells Fargo & Company Issues Pessimistic Forecast for ConocoPhillips (NYSE:COP) Stock Price

ConocoPhillips (NYSE:COP - Get Free Report) had its target price lowered by research analysts at Wells Fargo & Company from $131.00 to $116.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an "overweight" rating on the energy producer's stock. Wells Fargo & Company's target price suggests a potential upside of 30.39% from the stock's current price.

COP has been the topic of several other reports. The Goldman Sachs Group set a $132.00 target price on shares of ConocoPhillips in a research report on Thursday, January 30th. Piper Sandler dropped their price objective on ConocoPhillips from $135.00 to $114.00 and set an "overweight" rating on the stock in a research note on Thursday, December 19th. Mizuho upgraded shares of ConocoPhillips from a "neutral" rating to an "outperform" rating and raised their price objective for the stock from $132.00 to $134.00 in a report on Monday, December 16th. Morgan Stanley reduced their price objective on shares of ConocoPhillips from $131.00 to $126.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. Finally, Truist Financial lifted their price objective on ConocoPhillips from $138.00 to $139.00 and gave the company a "buy" rating in a research note on Monday, January 13th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $128.32.

ConocoPhillips Stock Up 3.0 %

COP stock traded up $2.60 during midday trading on Tuesday, hitting $88.96. The company's stock had a trading volume of 7,804,344 shares, compared to its average volume of 7,108,925. The company's fifty day moving average price is $95.50 and its 200 day moving average price is $101.58. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $130.77. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. The stock has a market capitalization of $112.46 billion, a P/E ratio of 11.42, a PEG ratio of 0.79 and a beta of 0.83.

ConocoPhillips (NYSE:COP - Get Free Report) last posted 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%. As a group, equities research analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Albion Financial Group UT increased its holdings in 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 purchasing an additional 228 shares during the last quarter. Murphy & Mullick Capital Management Corp acquired a new stake in shares of ConocoPhillips in the fourth quarter valued at $26,000. Centricity Wealth Management LLC purchased a new stake in shares of ConocoPhillips in the 4th quarter valued at $27,000. 10Elms LLP acquired a new position in ConocoPhillips in the 4th quarter valued at about $28,000. Finally, Crowley Wealth Management Inc. purchased a new stake in ConocoPhillips during the fourth quarter worth about $32,000. Hedge funds and other 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.