ConocoPhillips’ (COP) Overweight Rating Reaffirmed at Barclays PLC
ConocoPhillips (NYSE:COP)‘s stock had its “overweight” rating reissued by research analysts at Barclays PLC in a report issued on Tuesday. They currently have a $55.00 target price on the energy producer’s stock, up from their previous target price of $51.00. Barclays PLC’s target price indicates a potential upside of 11.34% from the stock’s previous close.
Other research analysts also recently issued reports about the company. Scotiabank set a $54.00 target price on ConocoPhillips and gave the stock a “buy” rating in a report on Saturday, July 1st. Royal Bank Of Canada reaffirmed a “buy” rating and set a $62.00 target price on shares of ConocoPhillips in a report on Thursday, June 15th. Citigroup Inc. cut their target price on ConocoPhillips from $65.00 to $57.00 and set a “buy” rating on the stock in a report on Friday, July 21st. Cowen and Company set a $55.00 target price on ConocoPhillips and gave the stock a “buy” rating in a report on Tuesday, July 18th. Finally, Bank of America Corporation raised ConocoPhillips from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $51.00 to $58.00 in a report on Friday, July 28th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $54.15.
ConocoPhillips (COP) traded down 0.29% during midday trading on Tuesday, hitting $49.40. The stock had a trading volume of 4,629,908 shares. ConocoPhillips has a 52 week low of $40.37 and a 52 week high of $53.17. The company’s 50-day moving average price is $47.22 and its 200 day moving average price is $46.10. The company’s market capitalization is $60.12 billion.
ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, July 27th. The energy producer reported $0.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.16. The firm had revenue of $8.88 billion for the quarter, compared to the consensus estimate 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 earned ($0.79) EPS. On average, analysts expect that ConocoPhillips will post $0.29 EPS for the current year.
A number of institutional investors have recently modified their holdings of COP. Financial Management Professionals Inc. increased its position in ConocoPhillips by 0.3% in the 2nd quarter. Financial Management Professionals Inc. now owns 2,294 shares of the energy producer’s stock valued at $100,000 after buying an additional 6 shares in the last quarter. First Command Bank increased its position in ConocoPhillips by 9.4% in the 2nd quarter. First Command Bank now owns 2,313 shares of the energy producer’s stock valued at $101,000 after buying an additional 199 shares in the last quarter. Krilogy Financial LLC increased its position in ConocoPhillips by 48.6% in the 2nd quarter. Krilogy Financial LLC now owns 2,392 shares of the energy producer’s stock valued at $105,000 after buying an additional 782 shares in the last quarter. Westside Investment Management Inc. increased its position in ConocoPhillips by 468.4% in the 1st quarter. Westside Investment Management Inc. now owns 2,427 shares of the energy producer’s stock valued at $119,000 after buying an additional 2,000 shares in the last quarter. Finally, Advantage Investment Management LLC increased its position in ConocoPhillips by 65.3% in the 1st quarter. Advantage Investment Management LLC now owns 2,425 shares of the energy producer’s stock valued at $121,000 after buying an additional 958 shares in the last quarter. 68.90% of the stock is owned by institutional investors and hedge funds.
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.
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