Johnson Rice slashes price target on Conoco Phillips [COP] – find out why.

Conoco Phillips [NYSE: COP] loss -1.74% on the last trading session, reaching $114.50 price per share at the time. The company report on December 22, 2023 at 4:30 PM that ConocoPhillips Makes Final Investment Decision to Develop the Willow Project.

ConocoPhillips (NYSE: COP) announced today that it will move forward with development of the Willow project in Alaska. This Final Investment Decision approves the project and funds construction needed to reach first oil. The decision follows the Department of the Interior March 2023 Record of Decision and recent positive court orders, including this week’s Ninth Circuit Court of Appeals denial of plaintiffs’ request for an injunction.

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“We are excited to reach this significant milestone,” said Ryan Lance, chairman and chief executive officer. “With this project authorization, we’ve begun winter construction and Alaskans have started to receive the benefits from responsible energy development.”.

Conoco Phillips represents 1.22 billion in outstanding shares, while the company has a total market value of $135.96 billion with the latest information. COP stock price has been found in the range of $112.48 to $115.05.

If compared to the average trading volume of 5.86M shares, COP reached a trading volume of 6768460 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Conoco Phillips [COP]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for COP shares is $137.47 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 1.50. 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.

Johnson Rice have made an estimate for Conoco Phillips shares, keeping their opinion on the stock as Hold, with their previous recommendation back on December 14, 2023.

The Average True Range (ATR) for Conoco Phillips is set at 2.51, with the Price to Sales ratio for COP stock in the period of the last 12 months amounting to 2.28. The Price to Book ratio for the last quarter was 2.85, with the Price to Cash per share for the same quarter was set at 7.96. Price to Free Cash Flow for COP in the course of the last twelve months was 13.08 with Quick ratio for the last quarter at 1.53.

Trading performance analysis for COP stock

Conoco Phillips [COP] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.35. With this latest performance, COP shares gained by 3.60% in over the last four-week period, additionally plugging by 10.28% over the last 6 months – not to mention a drop of -0.25% 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 45.34, with the RSI for the last a single of trading hit 41.84, and the three-weeks RSI is set at 46.66 for Conoco Phillips [COP]. The present Moving Average for the last 50 days of trading for this stock 115.61, while it was recorded at 117.01 for the last single week of trading, and 111.63 for the last 200 days.

Conoco Phillips [COP]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Conoco Phillips [COP] shares currently have an operating margin of +32.63 and a Gross Margin at +37.70. Conoco Phillips’s Net Margin is presently recorded at +23.69.

Return on Total Capital for COP is now 39.09, given the latest momentum, and Return on Invested Capital for the company is 28.82. Return on Equity for this stock inclined to 39.87, with Return on Assets sitting at 20.19. When it comes to the capital structure of this company, Conoco Phillips [COP] has a Total Debt to Total Equity ratio set at 35.81. Additionally, COP Total Debt to Total Capital is recorded at 26.37, with Total Debt to Total Assets ending up at 18.32. Long-Term Debt to Equity for the company is recorded at 34.61, with the Long-Term Debt to Total Capital now at 25.49.

Reflecting on the efficiency of the workforce at the company, Conoco Phillips [COP] managed to generate an average of $1,960,000 per employee. Receivables Turnover for the company is 11.42 with a Total Asset Turnover recorded at a value of 0.85.Conoco Phillips’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.53 and a Current Ratio set at 1.66.

Conoco Phillips [COP]: An earnings per share (EPS) analysis

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 Conoco Phillips go to -10.12%.

An analysis of Institutional ownership at Conoco Phillips [COP]

The top three institutional holders of COP stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in COP stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in COP stock with ownership which is approximately 5.8325%.