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

ConocoPhillips [NYSE: COP] closed the trading session at $108.63 on 09/06/22. The day’s price range saw the stock hit a low of $108.08, while the highest price level was $111.68. The company report on August 4, 2022 that ConocoPhillips Reports Second-Quarter 2022 Results; Announces Increase in Planned 2022 Return of Capital to $15 Billion and Declares Quarterly Dividend and Variable Return of Cash Distribution.


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ConocoPhillips (NYSE: COP) today reported second-quarter 2022 earnings of $5.1 billion, or $3.96 per share, compared with second-quarter 2021 earnings of $2.1 billion, or $1.55 per share. Excluding special items, second-quarter 2022 adjusted earnings were $5.1 billion, or $3.91 per share, compared with second-quarter 2021 adjusted earnings of $1.7 billion, or $1.27 per share. Special items for the current quarter were comprised of gains on asset sales including contingent payments related to prior dispositions, partially offset by a loss on debt extinguishment and a Norway tax reform-related adjustment.

In addition, ConocoPhillips today announced a $5 billion increase in planned 2022 return of capital to $15 billion. The company declared both a third-quarter ordinary dividend of 46 cents per share and a fourth-quarter variable return of cash (VROC) payment of $1.40 per share.

The stocks have a year to date performance of 52.12 percent and weekly performance of -4.22 percent. The stock has been moved at 8.42 percent over the last six months. The stock has performed 17.00 percent around the most recent 30 days and changed -6.74 percent over the most recent 3-months.

If compared to the average trading volume of 7.69M shares, COP reached to a volume of 7257300 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $121.09 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 3.68, with the Price to Sales ratio for COP stock in the period of the last 12 months amounting to 2.06. The Price to Book ratio for the last quarter was 2.79, with the Price to Cash per share for the same quarter was set at 6.59. Price to Free Cash Flow for COP in the course of the last twelve months was 10.69 with Quick ratio for the last quarter at 1.40.

COP stock trade performance evaluation

ConocoPhillips [COP] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.22. With this latest performance, COP shares gained by 17.00% in over the last four-week period, additionally plugging by 8.42% over the last 6 months – not to mention a rise of 95.78% 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 59.64, with the RSI for the last a single of trading hit 56.91, and the three-weeks RSI is set at 58.84 for ConocoPhillips [COP]. The present Moving Average for the last 50 days of trading for this stock 95.98, while it was recorded at 109.27 for the last single week of trading, and 93.37 for the last 200 days.

ConocoPhillips [COP]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and ConocoPhillips [COP] shares currently have an operating margin of +26.87 and a Gross Margin at +31.98. ConocoPhillips’s Net Margin is presently recorded at +17.54.

Return on Equity for this stock inclined to 21.47, with Return on Assets sitting at 10.54.

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

Earnings per share (EPS) analysis for ConocoPhillips [COP] stock

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 19.78%.

ConocoPhillips [COP]: Insider Ownership positions

There are presently around $111,910 million, or 81.80% of COP stock, in the hands of institutional investors. The top three institutional holders of COP stocks are: VANGUARD GROUP INC with ownership of 112,796,750, which is approximately 1.528% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 101,892,156 shares of the stock with an approximate value of $11.07 billion in COP stocks shares; and STATE STREET CORP, currently with $6.91 billion in COP stock with ownership of nearly -3.632% 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 906 institutional holders increased their position in ConocoPhillips [NYSE:COP] by around 53,951,972 shares. Additionally, 885 investors decreased positions by around 57,348,915 shares, while 311 investors held positions by with 918,893,464 shares. The mentioned changes placed institutional holdings at 1,030,194,351 shares, according to the latest SEC report filing. COP stock had 153 new institutional investments in for a total of 5,090,282 shares, while 109 institutional investors sold positions of 3,100,078 shares during the same period.

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