ConocoPhillips (NYSE:COP) was downgraded by analysts at Edward Jones from a “buy” rating to a “hold” rating in a research report issued on Wednesday, The Fly reports.
Several other equities research analysts also recently commented on COP. ValuEngine upgraded shares of ConocoPhillips from a “hold” rating to a “buy” rating in a research report on Friday, April 13th. Royal Bank of Canada set a $70.00 target price on shares of ConocoPhillips and gave the stock a “buy” rating in a research report on Friday, April 13th. Zacks Investment Research upgraded shares of ConocoPhillips from a “hold” rating to a “strong-buy” rating and set a $66.00 target price on the stock in a research report on Wednesday, January 10th. Scotiabank reiterated a “buy” rating and set a $64.00 target price on shares of ConocoPhillips in a research report on Monday, April 9th. Finally, JPMorgan Chase lifted their target price on shares of ConocoPhillips from $62.00 to $64.00 and gave the stock an “overweight” rating in a research report on Monday, April 9th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $60.42.
NYSE:COP traded down $0.09 during mid-day trading on Wednesday, hitting $66.42. 10,999,916 shares of the company’s stock were exchanged, compared to its average volume of 6,902,332. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.76 and a quick ratio of 1.64. ConocoPhillips has a fifty-two week low of $42.26 and a fifty-two week high of $67.30. The company has a market cap of $77,205.02, a PE ratio of 110.70, a P/E/G ratio of 1.93 and a beta of 1.23.
ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, February 1st. The energy producer reported $0.45 EPS for the quarter, hitting the consensus estimate of $0.45. ConocoPhillips had a negative net margin of 2.04% and a positive return on equity of 2.81%. The business had revenue of $8.74 billion for the quarter, compared to the consensus estimate of $7.70 billion. During the same period last year, the company earned ($0.26) EPS. equities research analysts expect that ConocoPhillips will post 2.92 EPS for the current year.
ConocoPhillips announced that its board has authorized a stock 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 buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
In other news, SVP Andrew D. Lundquist sold 25,000 shares of ConocoPhillips 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 owns 27,353 shares in the company, valued at approximately $1,612,732.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.88% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of ConocoPhillips by 468.8% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,820 shares of the energy producer’s stock valued at $100,000 after acquiring an additional 1,500 shares in the last quarter. Rocky Mountain Advisers LLC increased its stake in ConocoPhillips by 140.2% during the 3rd quarter. Rocky Mountain Advisers LLC now owns 2,392 shares of the energy producer’s stock valued at $120,000 after purchasing an additional 1,396 shares in the last quarter. Truewealth LLC bought a new stake in ConocoPhillips during the 4th quarter valued at $138,000. First Personal Financial Services increased its stake in ConocoPhillips by 111.9% during the 4th quarter. First Personal Financial Services now owns 2,649 shares of the energy producer’s stock valued at $145,000 after purchasing an additional 1,399 shares in the last quarter. Finally, Delpha Capital Management LLC bought a new stake in ConocoPhillips during the 4th quarter valued at $149,000. Institutional investors own 71.14% of the company’s stock.
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ConocoPhillips Company Profile
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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