ConocoPhillips (NYSE:COP) had its price target boosted by equities researchers at JPMorgan Chase from $62.00 to $64.00 in a report issued on Monday, April 9th. The brokerage presently has an “overweight” rating on the energy producer’s stock. JPMorgan Chase’s price target suggests a potential downside of 3.64% from the company’s current price.
Several other brokerages have also commented on COP. Piper Jaffray restated a “buy” rating and issued a $63.00 price target on shares of ConocoPhillips in a research note on Wednesday, January 24th. Morgan Stanley increased their price objective on shares of ConocoPhillips from $48.00 to $65.00 and gave the company an “equal weight” rating in a report on Wednesday, January 24th. Macquarie initiated coverage on shares of ConocoPhillips in a report on Wednesday, January 17th. They issued an “outperform” rating for the company. Cowen set a $70.00 target price on shares of ConocoPhillips and gave the stock a “buy” rating in a report on Thursday, January 18th. Finally, Barclays raised their target price on shares of ConocoPhillips from $59.00 to $72.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $60.42.
Shares of COP stock opened at $66.42 on Monday. The stock has a market cap of $78,121.19, a PE ratio of 91.11, a P/E/G ratio of 1.95 and a beta of 1.23. ConocoPhillips has a one year low of $42.26 and a one year high of $67.30. The company has a current ratio of 1.76, a quick ratio of 1.64 and a debt-to-equity ratio of 0.56.
ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, February 1st. The energy producer reported $0.45 earnings per share for the quarter, hitting the consensus estimate of $0.45. The firm 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 in the prior year, the business earned ($0.26) earnings per share. analysts anticipate that ConocoPhillips will post 2.92 EPS for the current year.
ConocoPhillips declared that its Board of Directors has approved a stock repurchase program on Thursday, February 1st that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the energy producer to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
In related 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 transaction, the senior vice president now owns 27,353 shares in the company, valued at approximately $1,612,732.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.88% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. APG Asset Management N.V. boosted its position in shares of ConocoPhillips by 1.3% during the 3rd quarter. APG Asset Management N.V. now owns 3,737,768 shares of the energy producer’s stock valued at $187,075,000 after acquiring an additional 47,600 shares in the last quarter. Whittier Trust Co. boosted its position in shares of ConocoPhillips by 9.3% during the 3rd quarter. Whittier Trust Co. now owns 13,275 shares of the energy producer’s stock valued at $665,000 after acquiring an additional 1,125 shares in the last quarter. Advisors Capital Management LLC boosted its position in shares of ConocoPhillips by 10.2% during the 3rd quarter. Advisors Capital Management LLC now owns 182,874 shares of the energy producer’s stock valued at $9,153,000 after acquiring an additional 16,883 shares in the last quarter. Nationwide Fund Advisors boosted its position in shares of ConocoPhillips by 3.0% during the 3rd quarter. Nationwide Fund Advisors now owns 734,109 shares of the energy producer’s stock valued at $36,742,000 after acquiring an additional 21,254 shares in the last quarter. Finally, Nippon Life Insurance Co. lifted its holdings in ConocoPhillips by 5.2% during the 3rd quarter. Nippon Life Insurance Co. now owns 47,919 shares of the energy producer’s stock valued at $2,398,000 after purchasing an additional 2,365 shares during the last quarter. 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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