Edward Jones lowered shares of ConocoPhillips (NYSE:COP) from a buy rating to a hold rating in a research report report published on Wednesday, The Fly reports.
Several other equities analysts also recently commented on the stock. Zacks Investment Research upgraded shares of ConocoPhillips from a hold rating to a strong-buy rating and set a $66.00 price target for the company in a research note on Wednesday, January 10th. Barclays set a $71.00 price objective on shares of ConocoPhillips and gave the stock a buy rating in a research report on Sunday, March 4th. Piper Jaffray reaffirmed a buy rating and set a $63.00 price objective on shares of ConocoPhillips in a research report on Wednesday, January 24th. Macquarie started coverage on shares of ConocoPhillips in a research report on Wednesday, January 17th. They set an outperform rating for the company. Finally, Morgan Stanley lifted their price objective on shares of ConocoPhillips from $48.00 to $65.00 and gave the stock an equal weight rating in a research report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. ConocoPhillips presently has an average rating of Buy and a consensus target price of $61.20.
ConocoPhillips stock opened at $66.18 on Wednesday. ConocoPhillips has a fifty-two week low of $42.26 and a fifty-two week high of $67.30. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.76 and a quick ratio of 1.64. The company has a market capitalization of $78,121.19, a P/E ratio of 110.70, a P/E/G ratio of 1.95 and a beta of 1.23.
ConocoPhillips announced that its Board of Directors has authorized a share repurchase plan on Thursday, February 1st that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the energy producer to purchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.
In related news, SVP Andrew D. Lundquist sold 25,000 shares of the business’s stock in a transaction on Thursday, March 29th. The shares were sold at an average price of $58.96, for a total value of $1,474,000.00. Following the completion of the sale, the senior vice president now directly owns 27,353 shares of the company’s stock, valued at $1,612,732.88. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.88% of the stock is owned by insiders.
Large investors have recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of ConocoPhillips by 468.8% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,820 shares of the energy producer’s stock valued at $100,000 after buying an additional 1,500 shares during the last quarter. Rocky Mountain Advisers LLC increased its stake in shares of ConocoPhillips by 140.2% during the third quarter. Rocky Mountain Advisers LLC now owns 2,392 shares of the energy producer’s stock worth $120,000 after acquiring an additional 1,396 shares during the period. Truewealth LLC acquired a new position in shares of ConocoPhillips during the fourth quarter worth about $138,000. First Personal Financial Services increased its stake in shares of ConocoPhillips by 111.9% during the fourth quarter. First Personal Financial Services now owns 2,649 shares of the energy producer’s stock worth $145,000 after acquiring an additional 1,399 shares during the period. Finally, Delpha Capital Management LLC acquired a new position in shares of ConocoPhillips during the fourth quarter worth about $149,000. 71.14% of the stock is owned by institutional investors and hedge funds.
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ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. Its portfolio includes North American tight oil and oil sands assets in Canada; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; and an inventory of conventional and unconventional exploration prospects.
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