MKM Partners slashes price target on ConocoPhillips [COP] – find out why.


ConocoPhillips [NYSE: COP] slipped around -0.96 points on Tuesday, while shares priced at $91.09 at the close of the session, down -1.04%. The company report on July 14, 2022 that Pioneer, Devon and ConocoPhillips Join OGMP 2.0, Commit to Leading Methane Performance and Increased Transparency in Emissions Reporting.

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Three leading U.S. oil and natural gas producing companies, Pioneer Natural Resources Company (NYSE: PXD), Devon Energy Corp. (NYSE: DVN) and ConocoPhillips (NYSE: COP), jointly announced today that they have joined the Oil and Gas Methane Partnership (OGMP) 2.0 Initiative. The initiative’s mission is to improve the industry’s transparency in methane emissions reporting and encourage progress in reducing those emissions. The companies’ membership in OGMP 2.0 demonstrates their commitments to reducing methane emissions and meeting U.S. and global energy demand with reliable and responsibly sourced production.

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ConocoPhillips stock is now 27.56% up from its year-to-date (YTD) trading value. COP Stock saw the intraday high of $94.18 and lowest of $89.97 per share. The company’s 52-week high price is 123.12, which means current price is +26.48% above from all time high which was touched on 06/08/22.

Compared to the average trading volume of 8.38M shares, COP reached a trading volume of 7087496 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about ConocoPhillips [COP]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for COP shares is $123.40 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on COP stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

MKM Partners have made an estimate for ConocoPhillips shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 20, 2022. While these analysts kept the previous recommendation, BofA Securities dropped their target price from $135 to $134. The new note on the price target was released on July 19, 2022, representing the official price target for ConocoPhillips stock. Previously, the target price had yet another raise from $110 to $135, while BofA Securities kept a Neutral rating on COP stock. On February 04, 2022, analysts increased their price target for COP shares from 95 to 114.

The Average True Range (ATR) for ConocoPhillips is set at 4.43, with the Price to Sales ratio for COP stock in the period of the last 12 months amounting to 2.21. The Price to Book ratio for the last quarter was 2.41, with the Price to Cash per share for the same quarter was set at 5.47. Price to Free Cash Flow for COP in the course of the last twelve months was 13.39 with Quick ratio for the last quarter at 1.40.

How has COP stock performed recently?

ConocoPhillips [COP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.95. With this latest performance, COP shares gained by 0.98% in over the last four-week period, additionally plugging by 10.90% over the last 6 months – not to mention a rise of 62.35% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for COP stock in for the last two-week period is set at 49.87, with the RSI for the last a single of trading hit 55.43, and the three-weeks RSI is set at 47.35 for ConocoPhillips [COP]. The present Moving Average for the last 50 days of trading for this stock 99.74, while it was recorded at 90.18 for the last single week of trading, and 89.35 for the last 200 days.

ConocoPhillips [COP]: Deeper insight into the fundamentals

ConocoPhillips’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.40 and a Current Ratio set at 1.50.

Earnings analysis for ConocoPhillips [COP]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for COP. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for ConocoPhillips go to 20.53%.

Insider trade positions for ConocoPhillips [COP]

There are presently around $95,063 million, or 81.50% of COP stock, in the hands of institutional investors. The top three institutional holders of COP stocks are: VANGUARD GROUP INC with ownership of 111,099,502, which is approximately 1.043% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 107,537,783 shares of the stock with an approximate value of $9.9 billion in COP stocks shares; and STATE STREET CORP, currently with $6.08 billion in COP stock with ownership of nearly -1.837% of the company’s market capitalization.

Positions in ConocoPhillips stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 899 institutional holders increased their position in ConocoPhillips [NYSE:COP] by around 70,221,507 shares. Additionally, 863 investors decreased positions by around 61,498,164 shares, while 283 investors held positions by with 901,012,852 shares. The mentioned changes placed institutional holdings at 1,032,732,523 shares, according to the latest SEC report filing. COP stock had 227 new institutional investments in for a total of 13,930,369 shares, while 88 institutional investors sold positions of 4,246,822 shares during the same period.