ConocoPhillips (COP) Upgraded to Buy at Goldman Sachs Group Inc.
Goldman Sachs Group Inc. upgraded shares of ConocoPhillips (NYSE:COP) from a neutral rating to a buy rating in a research report report published on Monday. The firm currently has $54.00 price target on the stock, up from their previous price target of $47.00.
Several other analysts have also recently weighed in on the stock. Clsa Americas cut shares of ConocoPhillips from an outperform rating to an underperform rating in a report on Monday, November 14th. CLSA cut shares of ConocoPhillips from an outperform rating to an underperform rating in a report on Tuesday, November 15th. Vetr cut shares of ConocoPhillips from a hold rating to a sell rating and set a $40.39 price target on the stock. in a report on Thursday, September 8th. Royal Bank Of Canada lifted their price target on shares of ConocoPhillips from $52.00 to $53.00 and gave the company an outperform rating in a report on Monday, October 31st. Finally, Jefferies Group upgraded shares of ConocoPhillips from an underperform rating to a hold rating and lifted their price target for the company from $30.00 to $40.00 in a report on Wednesday, September 7th. They noted that the move was a valuation call. Five research analysts have rated the stock with a sell rating, seven have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. ConocoPhillips has an average rating of Hold and an average price target of $51.73.
Shares of ConocoPhillips (NYSE:COP) opened at 45.50 on Monday. ConocoPhillips has a one year low of $31.05 and a one year high of $54.75. The stock’s market cap is $56.38 billion. The stock has a 50 day moving average of $43.65 and a 200 day moving average of $42.81.
ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, October 27th. The company reported ($0.66) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.69) by $0.03. ConocoPhillips had a negative net margin of 29.45% and a negative return on equity of 10.68%. During the same period in the previous year, the business earned ($0.38) EPS. On average, analysts forecast that ConocoPhillips will post ($2.83) EPS for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, October 17th will be paid a $0.25 dividend. The ex-dividend date is Thursday, October 13th. This represents a $1.00 dividend on an annualized basis and a yield of 2.16%. ConocoPhillips’s payout ratio is -17.67%.
A number of hedge funds have recently added to or reduced their stakes in COP. A.R.T. Advisors LLC acquired a new stake in ConocoPhillips during the first quarter worth $1,084,000. Integrated Investment Consultants LLC raised its stake in ConocoPhillips by 25.0% in the second quarter. Integrated Investment Consultants LLC now owns 2,543 shares of the company’s stock worth $111,000 after buying an additional 509 shares during the last quarter. Stock Yards Bank & Trust Co. raised its stake in ConocoPhillips by 150.6% in the second quarter. Stock Yards Bank & Trust Co. now owns 41,061 shares of the company’s stock worth $1,790,000 after buying an additional 24,678 shares during the last quarter. Baxter Bros Inc. acquired a new stake in ConocoPhillips during the second quarter worth $1,171,000. Finally, Raymond James Trust N.A. raised its stake in ConocoPhillips by 0.5% in the second quarter. Raymond James Trust N.A. now owns 37,635 shares of the company’s stock worth $1,640,000 after buying an additional 200 shares during the last quarter. Institutional investors and hedge funds own 63.51% of the company’s stock.
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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