Wall Street Zen Upgrades ConocoPhillips (NYSE:COP) to “Hold”

ConocoPhillips (NYSE:COP) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

A number of other equities analysts have also issued reports on COP. Scotiabank upped their target price on ConocoPhillips from $95.00 to $100.00 and gave the company a “sector perform” rating in a research report on Friday, July 11th. Melius Research initiated coverage on shares of ConocoPhillips in a research note on Wednesday, August 20th. They issued a “hold” rating and a $117.00 price target for the company. Capital One Financial upped their price target on shares of ConocoPhillips from $111.00 to $112.00 in a report on Friday, October 3rd. Jefferies Financial Group decreased their price objective on shares of ConocoPhillips from $129.00 to $120.00 and set a “buy” rating for the company in a report on Monday, October 13th. Finally, UBS Group dropped their target price on shares of ConocoPhillips from $115.00 to $98.00 in a research report on Tuesday, October 28th. Eighteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, ConocoPhillips has a consensus rating of “Moderate Buy” and a consensus target price of $114.54.

ConocoPhillips Stock Up 1.3%

Shares of ConocoPhillips stock opened at $86.82 on Friday. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $115.38. The company has a market capitalization of $108.43 billion, a PE ratio of 11.65, a P/E/G ratio of 2.36 and a beta of 0.58. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10. The business has a 50-day moving average of $91.58 and a 200-day moving average of $92.01.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, November 6th. The energy producer reported $1.61 EPS for the quarter, topping the consensus estimate of $1.41 by $0.20. The business had revenue of $15.03 billion for the quarter, compared to analysts’ expectations of $14.51 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The company’s revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.78 earnings per share. As a group, equities analysts forecast that ConocoPhillips will post 8.16 EPS for the current fiscal year.

Hedge Funds Weigh In On ConocoPhillips

A number of institutional investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its holdings in ConocoPhillips by 0.7% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 40,382,724 shares of the energy producer’s stock worth $3,623,946,000 after acquiring an additional 287,970 shares during the period. Wellington Management Group LLP boosted its holdings in ConocoPhillips by 1.4% during the first quarter. Wellington Management Group LLP now owns 31,610,608 shares of the energy producer’s stock valued at $3,319,746,000 after acquiring an additional 437,709 shares during the period. Fisher Asset Management LLC grew its position in shares of ConocoPhillips by 1.6% in the second quarter. Fisher Asset Management LLC now owns 14,393,875 shares of the energy producer’s stock valued at $1,291,706,000 after purchasing an additional 224,201 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of ConocoPhillips by 31.4% in the second quarter. Ameriprise Financial Inc. now owns 10,778,664 shares of the energy producer’s stock worth $966,267,000 after purchasing an additional 2,575,803 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in shares of ConocoPhillips by 30.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer’s stock worth $942,297,000 after purchasing an additional 2,080,625 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

About ConocoPhillips

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.