ConocoPhillips (NYSE:COP) has been given a $55.00 price target by stock analysts at Cowen and Company in a report issued on Tuesday, July 18th. The firm presently has a “buy” rating on the energy producer’s stock. Cowen and Company’s target price would indicate a potential upside of 21.52% from the stock’s current price.
COP has been the subject of a number of other reports. BidaskClub cut shares of ConocoPhillips from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 27th. Scotiabank set a $53.00 target price on shares of ConocoPhillips and gave the company a “buy” rating in a report on Monday, March 27th. Guggenheim started coverage on shares of ConocoPhillips in a report on Tuesday, April 18th. They set a “neutral” rating for the company. 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. Finally, Sanford C. Bernstein cut shares of ConocoPhillips from an “outperform” rating to a “market perform” rating and reduced their target price 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, nine have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $55.18.
ConocoPhillips (COP) traded up 1.34% on Tuesday, reaching $45.26. 10,794,866 shares of the company traded hands. The stock’s 50-day moving average is $44.27 and its 200-day moving average is $46.83. ConocoPhillips has a 1-year low of $38.80 and a 1-year high of $53.17. The stock’s market capitalization is $55.99 billion.
ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, July 27th. The energy producer reported $0.14 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.16. ConocoPhillips had a negative net margin of 12.29% and a negative return on equity of 2.75%. The firm had revenue of $8.88 billion during the quarter, compared to analysts’ expectations of $6.74 billion. During the same period in the previous year, the company earned ($0.79) earnings per share. Equities research analysts expect that ConocoPhillips will post $0.03 EPS for the current year.
In other ConocoPhillips news, VP James D. Mcmorran sold 9,091 shares of the stock in a transaction on Friday, May 19th. The shares were sold at an average price of $47.47, for a total transaction of $431,549.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.82% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in COP. First Manhattan Co. raised its position in ConocoPhillips by 8.0% in the second quarter. First Manhattan Co. now owns 1,427,608 shares of the energy producer’s stock valued at $62,757,000 after buying an additional 106,323 shares during the period. Enterprise Financial Services Corp raised its position in ConocoPhillips by 1.9% in the second quarter. Enterprise Financial Services Corp now owns 4,136 shares of the energy producer’s stock valued at $182,000 after buying an additional 76 shares during the period. Financial Management Professionals Inc. raised its position in ConocoPhillips by 0.3% in the second 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 during the period. Essex Investment Management Co. LLC raised its position in ConocoPhillips by 23.3% in the second quarter. Essex Investment Management Co. LLC now owns 122,793 shares of the energy producer’s stock valued at $5,398,000 after buying an additional 23,172 shares during the period. Finally, Ronald Blue & Co. LLC raised its position in ConocoPhillips by 2.0% in the second quarter. Ronald Blue & Co. LLC now owns 13,111 shares of the energy producer’s stock valued at $576,000 after buying an additional 257 shares during the period. Institutional investors and hedge funds own 67.74% of the company’s stock.
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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