ConocoPhillips (NYSE:COP) has been given a $45.00 target price by equities research analysts at Piper Jaffray Companies in a note issued to investors on Friday. The brokerage presently has a “buy” rating on the energy producer’s stock. Piper Jaffray Companies’ price objective indicates a potential upside of 3.26% from the company’s current price.

COP has been the subject of several other reports. Royal Bank Of Canada set a $54.00 price objective on ConocoPhillips and gave the stock a “buy” rating in a report on Thursday. Zacks Investment Research lowered ConocoPhillips from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. BidaskClub upgraded ConocoPhillips from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. Jefferies Group LLC restated a “hold” rating and set a $55.00 target price on shares of ConocoPhillips in a research report on Friday, May 5th. Finally, Scotiabank set a $54.00 target price on ConocoPhillips and gave the stock a “buy” rating in a research report on Tuesday, August 1st. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $54.38.

ConocoPhillips (NYSE:COP) opened at 43.58 on Friday. The firm’s market cap is $53.03 billion. ConocoPhillips has a 12 month low of $39.00 and a 12 month high of $53.17. The firm’s 50-day moving average is $43.96 and its 200-day moving average is $46.07.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, July 27th. The energy producer reported $0.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.16. The firm had revenue of $8.88 billion during the quarter, compared to analysts’ expectations of $6.74 billion. ConocoPhillips had a negative return on equity of 2.86% and a negative net margin of 12.29%. During the same period in the previous year, the business posted ($0.79) EPS. Equities analysts expect that ConocoPhillips will post $0.23 earnings per share for the current year.

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Institutional investors have recently added to or reduced their stakes in the company. Lord Abbett & CO. LLC increased its position in ConocoPhillips by 66.5% in the second quarter. Lord Abbett & CO. LLC now owns 2,671,428 shares of the energy producer’s stock worth $117,436,000 after buying an additional 1,067,428 shares during the period. Kimelman & Baird LLC increased its position in ConocoPhillips by 842.9% in the second quarter. Kimelman & Baird LLC now owns 108,900 shares of the energy producer’s stock worth $4,787,000 after buying an additional 97,350 shares during the period. Sentry Investment Management LLC increased its position in ConocoPhillips by 1.0% in the second quarter. Sentry Investment Management LLC now owns 99,210 shares of the energy producer’s stock worth $4,361,000 after buying an additional 976 shares during the period. WFG Advisors LP increased its position in ConocoPhillips by 0.4% in the second quarter. WFG Advisors LP now owns 9,611 shares of the energy producer’s stock worth $423,000 after buying an additional 39 shares during the period. Finally, Toronto Dominion Bank increased its position in ConocoPhillips by 16.1% in the second quarter. Toronto Dominion Bank now owns 616,392 shares of the energy producer’s stock worth $27,092,000 after buying an additional 85,538 shares during the period. 68.68% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Company Profile

ConocoPhillips is an independent exploration and production company. The Company explores for, produces, transports and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG) and natural gas liquids. The Company operates through five segments: Alaska, Lower 48, Canada, Europe and North Africa, Asia Pacific and Middle East, and Other International.

Analyst Recommendations for ConocoPhillips (NYSE:COP)

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