ConocoPhillips (NYSE:COP) has been given a $61.00 price objective by equities researchers at Royal Bank of Canada in a research note issued on Wednesday. The brokerage currently has a “buy” rating on the energy producer’s stock. Royal Bank of Canada’s price target points to a potential upside of 12.44% from the stock’s previous close.

Several other brokerages have also weighed in on COP. Credit Suisse Group initiated coverage on shares of ConocoPhillips in a report on Monday, December 11th. They set a “neutral” rating and a $50.00 price objective on the stock. Morgan Stanley upped their price objective on shares of ConocoPhillips from $45.00 to $48.00 and gave the company an “equal weight” rating in a report on Wednesday, October 18th. Barclays upped their price objective on shares of ConocoPhillips from $55.00 to $59.00 and gave the company an “overweight” rating in a report on Friday, October 27th. Piper Jaffray Companies reiterated a “buy” rating and set a $52.00 price objective on shares of ConocoPhillips in a report on Thursday, October 19th. Finally, Zacks Investment Research lowered shares of ConocoPhillips from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $55.25.

ConocoPhillips (NYSE COP) opened at $54.25 on Wednesday. ConocoPhillips has a fifty-two week low of $42.26 and a fifty-two week high of $54.51. The firm has a market cap of $62,979.78, a PE ratio of 2,634.00, a PEG ratio of 12.70 and a beta of 1.26. The company has a current ratio of 2.38, a quick ratio of 2.23 and a debt-to-equity ratio of 0.64.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, October 26th. The energy producer reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.08. ConocoPhillips had a negative net margin of 7.32% and a positive return on equity of 0.12%. The firm had revenue of $7.20 billion for the quarter, compared to analyst estimates of $6.55 billion. During the same quarter in the prior year, the business earned ($0.66) earnings per share. sell-side analysts forecast that ConocoPhillips will post 0.55 EPS for the current fiscal year.

In other ConocoPhillips news, Director Charles E. Bunch bought 2,000 shares of the firm’s stock in a transaction dated Monday, December 11th. The stock was bought at an average cost of $52.06 per share, with a total value of $104,120.00. Following the completion of the transaction, the director now directly owns 3,429 shares in the company, valued at approximately $178,513.74. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.82% of the company’s stock.

Large investors have recently bought and sold shares of the company. Parametric Portfolio Associates LLC grew its position in ConocoPhillips by 2.6% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 3,404,459 shares of the energy producer’s stock worth $170,393,000 after purchasing an additional 86,655 shares in the last quarter. Shelton Capital Management grew its position in ConocoPhillips by 1.4% in the 3rd quarter. Shelton Capital Management now owns 93,456 shares of the energy producer’s stock worth $4,677,000 after purchasing an additional 1,301 shares in the last quarter. Chicago Partners Investment Group LLC grew its position in ConocoPhillips by 27.0% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 6,004 shares of the energy producer’s stock worth $301,000 after purchasing an additional 1,278 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new stake in ConocoPhillips in the 3rd quarter worth about $1,528,000. Finally, Belpointe Asset Management LLC bought a new stake in ConocoPhillips in the 3rd quarter worth about $258,000. 69.62% of the stock is owned by institutional investors.

ILLEGAL ACTIVITY NOTICE: “ConocoPhillips (COP) Given a $61.00 Price Target by Royal Bank of Canada Analysts” was posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this news story on another site, it was stolen and reposted in violation of US and international copyright and trademark laws. The original version of this news story can be viewed at https://www.thecerbatgem.com/2017/12/20/royal-bank-of-canada-reaffirms-buy-rating-for-conocophillips-cop.html.

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)

Receive News & Ratings for ConocoPhillips Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ConocoPhillips and related companies with MarketBeat.com's FREE daily email newsletter.