ConocoPhillips (NYSE:COP) was upgraded by ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.
A number of other analysts have also issued reports on COP. Zacks Investment Research lowered shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Tuesday, December 19th. Royal Bank of Canada set a $61.00 price target on shares of ConocoPhillips and gave the stock a “buy” rating in a research note on Wednesday, December 20th. Howard Weil lowered shares of ConocoPhillips from a “focus list” rating to an “outperform” rating and set a $58.00 price target for the company. in a research note on Friday, December 22nd. Macquarie started coverage on shares of ConocoPhillips in a research note on Wednesday, January 17th. They issued an “outperform” rating for the company. Finally, Cowen set a $70.00 price target on shares of ConocoPhillips and gave the stock a “buy” rating in a research note on Thursday, January 18th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $60.42.
Shares of COP traded up $1.66 during mid-day trading on Friday, reaching $64.90. 9,669,971 shares of the stock traded hands, compared to its average volume of 6,801,753. The firm has a market capitalization of $74,268.57, a P/E ratio of 108.17, a P/E/G ratio of 1.86 and a beta of 1.23. ConocoPhillips has a 12-month low of $42.26 and a 12-month high of $65.00. The company has a quick ratio of 1.64, a current ratio of 1.76 and a debt-to-equity ratio of 0.56.
ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, February 1st. The energy producer reported $0.45 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.45. The company had revenue of $8.74 billion for the quarter, compared to analyst estimates of $7.70 billion. ConocoPhillips had a negative net margin of 2.04% and a positive return on equity of 2.81%. During the same quarter last year, the firm posted ($0.26) earnings per share. equities analysts expect that ConocoPhillips will post 2.92 earnings per share for the current fiscal year.
ConocoPhillips announced that its board has authorized a stock repurchase plan on Thursday, February 1st that allows the company to buyback $500.00 million in shares. This buyback authorization allows the energy producer to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.
In other ConocoPhillips 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 transaction of $1,474,000.00. Following the completion of the sale, the senior vice president now owns 27,353 shares in the company, valued at $1,612,732.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.88% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the business. Financial Advocates Investment Management bought a new stake in ConocoPhillips during the fourth quarter valued at $885,000. Lombard Odier Asset Management USA Corp acquired a new position in shares of ConocoPhillips during the fourth quarter valued at $11,478,000. Tiemann Investment Advisors LLC acquired a new position in shares of ConocoPhillips during the fourth quarter valued at $206,000. Royal Bank of Scotland Group PLC acquired a new position in shares of ConocoPhillips during the fourth quarter valued at $21,216,000. Finally, Intact Investment Management Inc. boosted its holdings in shares of ConocoPhillips by 94.3% during the third quarter. Intact Investment Management Inc. now owns 10,300 shares of the energy producer’s stock valued at $515,000 after acquiring an additional 5,000 shares during the period. Hedge funds and other institutional investors own 71.15% of the company’s stock.
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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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