ConocoPhillips’ (COP) “Buy” Rating Reiterated at Piper Jaffray Companies
ConocoPhillips (NYSE:COP)‘s stock had its “buy” rating reissued by equities researchers at Piper Jaffray Companies in a research note issued on Friday. They presently have a $53.00 price target on the energy producer’s stock. Piper Jaffray Companies’ price target suggests a potential upside of 0.08% from the company’s current price.
Several other analysts have also issued reports on COP. Scotiabank restated a “buy” rating and issued a $52.00 price objective on shares of ConocoPhillips in a report on Friday, September 8th. J P Morgan Chase & Co restated an “overweight” rating on shares of ConocoPhillips in a report on Saturday, September 16th. Citigroup Inc. reduced their price objective on shares of ConocoPhillips from $65.00 to $57.00 and set a “buy” rating on the stock in a report on Friday, July 21st. Royal Bank Of Canada set a $62.00 price objective on shares of ConocoPhillips and gave the company a “buy” rating in a report on Sunday, July 16th. Finally, Sanford C. Bernstein lowered shares of ConocoPhillips from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $63.00 to $42.00 in a report on Thursday, July 6th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $55.26.
ConocoPhillips (NYSE:COP) traded up $0.86 during midday trading on Friday, hitting $52.96. The stock had a trading volume of 8,018,753 shares, compared to its average volume of 5,647,048. The company has a current ratio of 2.38, a quick ratio of 1.90 and a debt-to-equity ratio of 0.64. The firm has a market cap of $62.74 billion, a PE ratio of 2,624.00, a price-to-earnings-growth ratio of 14.85 and a beta of 1.28.
ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, October 26th. The energy producer reported $0.16 EPS for the quarter, topping the consensus estimate of $0.08 by $0.08. ConocoPhillips had a positive return on equity of 0.12% and a negative net margin of 7.32%. The business had revenue of $7.20 billion for the quarter, compared to analyst estimates of $6.55 billion. During the same quarter in the previous year, the firm earned ($0.66) EPS. equities analysts predict that ConocoPhillips will post 0.47 earnings per share for the current year.
Several institutional investors have recently made changes to their positions in the company. Global X MANAGEMENT CO LLC grew its position in shares of ConocoPhillips by 12.2% during the third quarter. Global X MANAGEMENT CO LLC now owns 16,694 shares of the energy producer’s stock worth $836,000 after buying an additional 1,812 shares in the last quarter. Candriam Luxembourg S.C.A. grew its position in shares of ConocoPhillips by 53.0% during the third quarter. Candriam Luxembourg S.C.A. now owns 349,286 shares of the energy producer’s stock worth $17,482,000 after buying an additional 120,921 shares in the last quarter. Pax World Management LLC grew its position in shares of ConocoPhillips by 55.3% during the third quarter. Pax World Management LLC now owns 170,397 shares of the energy producer’s stock worth $8,528,000 after buying an additional 60,700 shares in the last quarter. Goodman Financial Corp grew its position in shares of ConocoPhillips by 79.9% during the third quarter. Goodman Financial Corp now owns 13,468 shares of the energy producer’s stock worth $674,000 after buying an additional 5,980 shares in the last quarter. Finally, Bessemer Group Inc. grew its position in shares of ConocoPhillips by 3.2% during the third quarter. Bessemer Group Inc. now owns 4,893,072 shares of the energy producer’s stock worth $244,898,000 after buying an additional 153,674 shares in the last quarter. 68.88% of the stock is owned by institutional investors and hedge funds.
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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