ConocoPhillips (NYSE:COP) has been assigned a $55.00 target price by analysts at Cowen and Company in a research note issued to investors on Tuesday, July 18th. The brokerage currently has a “buy” rating on the energy producer’s stock. Cowen and Company’s price objective would suggest a potential upside of 20.72% from the stock’s previous close.
COP has been the topic of a number of other reports. Scotiabank set a $53.00 price target on ConocoPhillips and gave the stock a “buy” rating in a research report on Monday, March 27th. Royal Bank Of Canada set a $62.00 price target on ConocoPhillips and gave the stock a “buy” rating in a research report on Sunday, July 16th. Zacks Investment Research cut ConocoPhillips from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. BidaskClub raised ConocoPhillips from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $55.00 price target on shares of ConocoPhillips in a research report on Friday, May 5th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. ConocoPhillips currently has a consensus rating of “Hold” and an average price target of $55.18.
Shares of ConocoPhillips (NYSE COP) traded up 1.45% during mid-day trading on Tuesday, hitting $45.56. The stock had a trading volume of 6,105,578 shares. ConocoPhillips has a 52-week low of $39.00 and a 52-week high of $53.17. The stock’s 50-day moving average price is $44.26 and its 200-day moving average price is $46.70. The firm has a market cap of $55.44 billion, a PE ratio of 17.19 and a beta of 1.21.
ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, July 27th. The energy producer reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.16. ConocoPhillips had a negative return on equity of 2.86% and a negative net margin of 12.29%. The firm had revenue of $8.88 billion for the quarter, compared to analysts’ expectations of $6.74 billion. During the same period in the previous year, the firm posted ($0.79) EPS. On average, analysts anticipate that ConocoPhillips will post $0.25 earnings per share for the current fiscal year.
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In other news, VP James D. Mcmorran sold 9,091 shares of the company’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of $47.47, for a total value of $431,549.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.82% of the company’s stock.
Several large investors have recently bought and sold shares of COP. Drexel Morgan & Co. bought a new stake in ConocoPhillips during the fourth quarter valued at approximately $207,000. GLG LLC raised its stake in shares of ConocoPhillips by 257.1% in the fourth quarter. GLG LLC now owns 69,167 shares of the energy producer’s stock worth $3,468,000 after buying an additional 49,797 shares during the last quarter. Caxton Associates LP acquired a new stake in shares of ConocoPhillips during the fourth quarter worth about $2,035,000. Tudor Investment Corp Et Al raised its stake in shares of ConocoPhillips by 12.4% in the fourth quarter. Tudor Investment Corp Et Al now owns 25,371 shares of the energy producer’s stock worth $1,272,000 after buying an additional 2,800 shares during the last quarter. Finally, Seven Eight Capital LP acquired a new stake in shares of ConocoPhillips during the fourth quarter worth about $933,000. Hedge funds and other institutional investors own 67.77% of the company’s stock.
About ConocoPhillips
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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