ConocoPhillips (COP) Stock Rating Reaffirmed by Nomura
ConocoPhillips (NYSE:COP)‘s stock had its “hold” rating reissued by stock analysts at Nomura in a research report issued to clients and investors on Monday. They presently have a $49.00 price target on the stock. Nomura’s price target points to a potential upside of 12.72% from the stock’s current price.
COP has been the topic of several other research reports. Deutsche Bank AG restated a “buy” rating and issued a $62.00 target price on shares of ConocoPhillips in a report on Thursday, June 16th. Jefferies Group reissued a “sell” rating on shares of ConocoPhillips in a research report on Thursday, June 30th. JPMorgan Chase & Co. raised ConocoPhillips from an “underweight” rating to a “neutral” rating and set a $44.00 price objective for the company in a research report on Monday, July 11th. They noted that the move was a valuation call. Zacks Investment Research raised ConocoPhillips from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research report on Wednesday, July 13th. Finally, Simmons reissued a “neutral” rating on shares of ConocoPhillips in a research report on Thursday, August 11th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $49.10.
Shares of ConocoPhillips (NYSE:COP) opened at 43.47 on Monday. ConocoPhillips has a 52 week low of $31.05 and a 52 week high of $57.24. The firm’s market cap is $53.84 billion. The firm has a 50-day moving average of $41.63 and a 200 day moving average of $42.67.
ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, July 28th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.61) by $0.18. ConocoPhillips had a negative return on equity of 9.26% and a negative net margin of 28.40%. The firm earned $5.58 billion during the quarter, compared to the consensus estimate of $5.38 billion. During the same quarter in the previous year, the company earned $0.07 EPS. The business’s revenue was down 35.6% compared to the same quarter last year. Equities research analysts predict that ConocoPhillips will post ($2.47) EPS for the current fiscal year.
In other ConocoPhillips news, Director Arjun N. Murti acquired 6,500 shares of the business’s stock in a transaction on Monday, August 1st. The shares were bought at an average price of $39.72 per share, with a total value of $258,180.00. Following the transaction, the director now directly owns 19,000 shares of the company’s stock, valued at approximately $754,680. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Ellen Desanctis acquired 5,000 shares of the business’s stock in a transaction on Thursday, August 11th. The stock was acquired at an average cost of $40.50 per share, for a total transaction of $202,500.00. Following the transaction, the vice president now directly owns 22,010 shares in the company, valued at $891,405. The disclosure for this purchase can be found here. Corporate insiders own 0.07% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Carnick & Kubik Group LLC acquired a new position in shares of ConocoPhillips during the second quarter valued at approximately $1,596,000. Williams Jones & Associates LLC increased its position in shares of ConocoPhillips by 4.4% in the second quarter. Williams Jones & Associates LLC now owns 78,801 shares of the company’s stock valued at $3,436,000 after buying an additional 3,300 shares during the period. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of ConocoPhillips during the second quarter valued at approximately $2,180,000. Kentucky Retirement Systems acquired a new position in shares of ConocoPhillips during the second quarter valued at approximately $4,592,000. Finally, Mason Street Advisors LLC acquired a new position in shares of ConocoPhillips during the second quarter valued at approximately $7,273,000. 63.70% of the stock is currently owned by institutional investors.
ConocoPhillips (ConocoPhillips) is an independent exploration and production company. The Company explores for, produces, transports and markets crude oil, bitumen, natural gas and liquefied natural gas (LNG). The Company operates through six operating segments, which are primarily defined by geographic region: Alaska; Lower 48; Canada; Europe and North Africa; Asia Pacific and Middle East, and Other International.
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