Morgan Stanley Increases ConocoPhillips (COP) Price Target to $48.00

ConocoPhillips (NYSE:COP) had its target price hoisted by research analysts at Morgan Stanley from $45.00 to $48.00 in a report released on Wednesday. The firm presently has an “equal weight” rating on the energy producer’s stock. Morgan Stanley’s target price indicates a potential downside of 3.44% from the stock’s current price.

A number of other equities research analysts have also commented on COP. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and issued a $52.00 price target on shares of ConocoPhillips in a research report on Thursday, June 22nd. BidaskClub lowered ConocoPhillips from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 27th. Scotiabank set a $54.00 price target on ConocoPhillips and gave the company a “buy” rating in a research report on Saturday, July 1st. Sanford C. Bernstein lowered ConocoPhillips from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $63.00 to $42.00 in a research report on Thursday, July 6th. Finally, Wolfe Research lowered ConocoPhillips from an “outperform” rating to a “market perform” rating in a research report on Monday, July 17th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $54.20.

Shares of ConocoPhillips (COP) traded up 0.9055% during trading on Wednesday, reaching $50.1601. 2,042,510 shares of the company were exchanged. The firm’s 50 day moving average price is $47.96 and its 200 day moving average price is $46.16. ConocoPhillips has a one year low of $40.96 and a one year high of $53.17. The company’s market capitalization is $61.04 billion.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, July 27th. The energy producer reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.16. The company had revenue of $8.88 billion for the quarter, compared to analysts’ expectations of $6.74 billion. ConocoPhillips had a negative return on equity of 2.86% and a negative net margin of 12.29%. During the same period last year, the business earned ($0.79) EPS. Equities research analysts forecast that ConocoPhillips will post $0.31 earnings per share for the current fiscal year.

TRADEMARK VIOLATION NOTICE: “Morgan Stanley Increases ConocoPhillips (COP) Price Target to $48.00” was first posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this report on another publication, it was stolen and reposted in violation of international trademark & copyright legislation. The correct version of this report can be viewed at https://ledgergazette.com/2017/10/20/morgan-stanley-increases-conocophillips-cop-price-target-to-48-00.html.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Financial Management Professionals Inc. increased its holdings in ConocoPhillips by 0.3% in the 2nd quarter. Financial Management Professionals Inc. now owns 2,294 shares of the energy producer’s stock worth $100,000 after acquiring an additional 6 shares during the last quarter. First Command Bank increased its holdings in ConocoPhillips by 9.4% in the 2nd quarter. First Command Bank now owns 2,313 shares of the energy producer’s stock worth $101,000 after acquiring an additional 199 shares during the last quarter. Krilogy Financial LLC increased its holdings in ConocoPhillips by 48.6% in the 2nd quarter. Krilogy Financial LLC now owns 2,392 shares of the energy producer’s stock worth $105,000 after acquiring an additional 782 shares during the last quarter. Westside Investment Management Inc. increased its holdings in ConocoPhillips by 468.4% in the 1st quarter. Westside Investment Management Inc. now owns 2,427 shares of the energy producer’s stock worth $119,000 after acquiring an additional 2,000 shares during the las

A number of other equities research analysts have also commented on COP. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and issued a $52.00 price target on shares of ConocoPhillips in a research report on Thursday, June 22nd. BidaskClub lowered ConocoPhillips from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 27th. Scotiabank set a $54.00 price target on ConocoPhillips and gave the company a “buy” rating in a research report on Saturday, July 1st. Sanford C. Bernstein lowered ConocoPhillips from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $63.00 to $42.00 in a research report on Thursday, July 6th. Finally, Wolfe Research lowered ConocoPhillips from an “outperform” rating to a “market perform” rating in a research report on Monday, July 17th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $54.20.

Shares of ConocoPhillips (COP) traded up 0.9055% during trading on Wednesday, reaching $50.1601. 2,042,510 shares of the company were exchanged. The firm’s 50 day moving average price is $47.96 and its 200 day moving average price is $46.16. ConocoPhillips has a one year low of $40.96 and a one year high of $53.17. The company’s market capitalization is $61.04 billion.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, July 27th. The energy producer reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.16. The company had revenue of $8.88 billion for the quarter, compared to analysts’ expectations of $6.74 billion. ConocoPhillips had a negative return on equity of 2.86% and a negative net margin of 12.29%. During the same period last year, the business earned ($0.79) EPS. Equities research analysts forecast that ConocoPhillips will post $0.31 earnings per share for the current fiscal year.

TRADEMARK VIOLATION NOTICE: “Morgan Stanley Increases ConocoPhillips (COP) Price Target to $48.00” was first posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this report on another publication, it was stolen and reposted in violation of international trademark & copyright legislation. The correct version of this report can be viewed at https://ledgergazette.com/2017/10/20/morgan-stanley-increases-conocophillips-cop-price-target-to-48-00.html.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Financial Management Professionals Inc. increased its holdings in ConocoPhillips by 0.3% in the 2nd quarter. Financial Management Professionals Inc. now owns 2,294 shares of the energy producer’s stock worth $100,000 after acquiring an additional 6 shares during the last quarter. First Command Bank increased its holdings in ConocoPhillips by 9.4% in the 2nd quarter. First Command Bank now owns 2,313 shares of the energy producer’s stock worth $101,000 after acquiring an additional 199 shares during the last quarter. Krilogy Financial LLC increased its holdings in ConocoPhillips by 48.6% in the 2nd quarter. Krilogy Financial LLC now owns 2,392 shares of the energy producer’s stock worth $105,000 after acquiring an additional 782 shares during the last quarter. Westside Investment Management Inc. increased its holdings in ConocoPhillips by 468.4% in the 1st quarter. Westside Investment Management Inc. now owns 2,427 shares of the energy producer’s stock worth $119,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Advantage Investment Management LLC increased its holdings in ConocoPhillips by 65.3% in the 1st quarter. Advantage Investment Management LLC now owns 2,425 shares of the energy producer’s stock worth $121,000 after acquiring an additional 958 shares during the last quarter. 68.85% of the stock is owned by institutional investors.

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.

Analyst Recommendations for ConocoPhillips (NYSE:COP)

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