ConocoPhillips (NYSE:COP) Price Target Cut to $126.00 by Analysts at Morgan Stanley

ConocoPhillips (NYSE:COP) had its target price reduced by research analysts at Morgan Stanley from $131.00 to $126.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the energy producer’s stock. Morgan Stanley’s target price would suggest a potential upside of 22.49% from the company’s previous close.

COP has been the topic of several other research reports. Raymond James lowered ConocoPhillips from a “strong-buy” rating to an “outperform” rating and lowered their target price for the company from $157.00 to $124.00 in a report on Monday, February 10th. UBS Group lowered their price objective on shares of ConocoPhillips from $140.00 to $137.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. Barclays dropped their target price on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a report on Monday, February 10th. The Goldman Sachs Group set a $132.00 price target on shares of ConocoPhillips in a report on Thursday, January 30th. Finally, JPMorgan Chase & Co. reduced their price objective on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $132.95.

ConocoPhillips Stock Performance

NYSE COP traded down $0.34 during trading on Thursday, reaching $102.87. The company’s stock had a trading volume of 1,549,297 shares, compared to its average volume of 6,416,201. ConocoPhillips has a twelve month low of $86.81 and a twelve month high of $135.18. The firm has a market cap of $130.88 billion, a price-to-earnings ratio of 13.21, a P/E/G ratio of 0.79 and a beta of 1.12. The business’s fifty day moving average price is $99.08 and its 200-day moving average price is $103.31. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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, analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

Hedge Funds Weigh In On ConocoPhillips

A number of large investors have recently made changes to their positions in the business. Orrstown Financial Services Inc. increased its holdings in shares of ConocoPhillips by 3.0% during the 4th quarter. Orrstown Financial Services Inc. now owns 3,342 shares of the energy producer’s stock valued at $331,000 after acquiring an additional 96 shares during the last quarter. Principle Wealth Partners LLC raised its position in shares of ConocoPhillips by 0.3% in the fourth 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 during the period. Arlington Trust Co LLC lifted its stake in shares of ConocoPhillips by 1.2% in the fourth quarter. Arlington Trust Co LLC now owns 8,640 shares of the energy producer’s stock worth $857,000 after buying an additional 102 shares during the last quarter. Courier Capital LLC grew its stake 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 buying an additional 103 shares during the last quarter. Finally, Gray Wealth Management Inc. boosted its position in shares of ConocoPhillips by 5.0% in the fourth quarter. Gray Wealth Management Inc. now owns 2,171 shares of the energy producer’s stock valued at $215,000 after acquiring an additional 104 shares during the period. 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.