ConocoPhillips (NYSE:COP) Earns Outperform Rating from Royal Bank of Canada

ConocoPhillips (NYSE:COP)‘s stock had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada in a report released on Friday, Benzinga reports. They presently have a $140.00 price target on the energy producer’s stock. Royal Bank of Canada’s target price points to a potential upside of 35.36% from the stock’s current price.

Several other research analysts also recently commented on the company. Raymond James reissued a “strong-buy” rating and set a $159.00 target price (up previously from $155.00) on shares of ConocoPhillips in a research note on Thursday, May 30th. Barclays boosted their price target on ConocoPhillips from $158.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. Susquehanna reduced their price target on ConocoPhillips from $154.00 to $147.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. Wells Fargo & Company reduced their target price on ConocoPhillips from $151.00 to $150.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Finally, Argus raised ConocoPhillips to a “strong-buy” rating in a research report on Friday, June 7th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned 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 target price of $143.24.

ConocoPhillips Stock Up 0.5 %

Shares of NYSE COP traded up $0.53 during midday trading on Friday, reaching $103.43. The company’s stock had a trading volume of 276,386 shares, compared to its average volume of 5,647,514. 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 has a fifty-two week low of $101.29 and a fifty-two week high of $135.18. The stock has a market capitalization of $120.11 billion, a price-to-earnings ratio of 11.70, a PEG ratio of 0.78 and a beta of 1.22. The stock has a 50 day simple moving average of $110.34 and a 200-day simple moving average of $116.73.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.02. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The firm had revenue of $14.14 billion during the quarter, compared to analysts’ expectations of $14.96 billion. During the same period in the previous year, the business posted $1.84 earnings per share. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. Equities research analysts predict that ConocoPhillips will post 8.41 earnings per share for the current year.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total value of $6,000,105.00. Following the completion of the sale, the director now owns 455,909 shares in the company, valued at approximately $49,288,321.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.34% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ConocoPhillips

Several institutional investors have recently modified their holdings of the business. Heritage Wealth Management Inc. acquired a new position in shares of ConocoPhillips in the second quarter valued at approximately $1,366,000. Lazari Capital Management Inc. increased its position in ConocoPhillips by 2.1% during the second quarter. Lazari Capital Management Inc. now owns 12,803 shares of the energy producer’s stock worth $1,464,000 after acquiring an additional 262 shares during the period. Sanctuary Advisors LLC acquired a new stake in ConocoPhillips during the second quarter worth about $29,201,000. Clear Rock Advisors LLC boosted its stake in shares of ConocoPhillips by 2.9% in the 2nd quarter. Clear Rock Advisors LLC now owns 22,274 shares of the energy producer’s stock valued at $2,548,000 after purchasing an additional 627 shares in the last quarter. Finally, Brown Financial Advisors acquired a new stake in ConocoPhillips during the 2nd quarter worth approximately $1,277,000. Institutional investors and hedge funds 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.