Morgan Stanley Has Lowered Expectations for ConocoPhillips (NYSE:COP) Stock Price

ConocoPhillips (NYSE:COP) had its price target dropped by analysts at Morgan Stanley from $131.00 to $126.00 in a report released on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the energy producer’s stock. Morgan Stanley’s price target suggests a potential upside of 23.08% from the stock’s previous close.

Several other analysts also recently issued reports on the company. Truist Financial lifted their target price on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, January 13th. The Goldman Sachs Group set a $132.00 price objective on shares of ConocoPhillips in a research report on Thursday, January 30th. Barclays lowered their target price on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. TD Cowen assumed coverage on shares of ConocoPhillips in a research note on Friday, January 17th. They set a “buy” rating and a $125.00 target price for the company. Finally, JPMorgan Chase & Co. decreased their price target on shares of ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $132.95.

ConocoPhillips Trading Down 0.4 %

Shares of NYSE:COP opened at $102.37 on Thursday. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. ConocoPhillips has a 12-month low of $86.81 and a 12-month high of $135.18. The company has a market cap of $130.26 billion, a PE ratio of 13.14, a price-to-earnings-growth ratio of 0.79 and a beta of 1.12. The stock has a 50 day moving average of $98.95 and a 200 day moving average of $103.28.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share 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 expect that ConocoPhillips will post 8.16 EPS for the current year.

Institutional Investors Weigh In On ConocoPhillips

Several hedge funds and other institutional investors have recently made changes to their positions in COP. Vanguard Group Inc. grew its holdings in ConocoPhillips by 11.7% during the 4th quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer’s stock valued at $12,081,491,000 after purchasing an additional 12,751,120 shares during the last quarter. State Street Corp boosted its position in shares of ConocoPhillips by 19.0% during the third quarter. State Street Corp now owns 66,928,793 shares of the energy producer’s stock valued at $7,046,263,000 after buying an additional 10,663,093 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of ConocoPhillips by 13.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer’s stock valued at $4,546,706,000 after buying an additional 5,549,078 shares during the last quarter. Capital International Investors grew its stake in shares of ConocoPhillips by 4.9% during the fourth quarter. Capital International Investors now owns 31,287,113 shares of the energy producer’s stock valued at $3,101,989,000 after buying an additional 1,473,027 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of ConocoPhillips by 20.2% in the third quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer’s stock worth $3,280,725,000 after buying an additional 5,240,016 shares during the period. 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.