ConocoPhillips Price Target Raised to $85.00 at Credit Suisse (COP)
Research analysts at Credit Suisse increased their price objective on shares of ConocoPhillips (NYSE:COP) from $70.00 to $85.00 in a report released on Friday, Analyst Ratings Net reports. The firm currently has a “neutral” rating on the stock. Credit Suisse’s price objective would indicate a potential upside of 16.29% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Cowen and Company raised their price target on shares of ConocoPhillips from $67.00 to $79.00 in a research note to investors on Friday. They now have a “market perform” rating on the stock. Separately, analysts at Argus reiterated a “buy” rating on shares of ConocoPhillips in a research note to investors on Friday. They now have a $77.00 price target on the stock. Finally, analysts at UBS AG raised their price target on shares of ConocoPhillips from $57.00 to $60.00 in a research note to investors on Friday. They now have a “sell” rating on the stock. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. ConocoPhillips currently has a consensus rating of “Buy” and an average target price of $72.60.
Shares of ConocoPhillips (NYSE:COP) opened at 73.09 on Friday. ConocoPhillips has a 1-year low of $53.95 and a 1-year high of $69.42. The stock’s 50-day moving average is $71.44 and its 200-day moving average is $65.48. The company has a market cap of $89.390 billion and a price-to-earnings ratio of 12.23.
ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, October 31st. The company reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.01. During the same quarter in the previous year, the company posted $1.44 earnings per share. On average, analysts predict that ConocoPhillips will post $5.89 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, December 2nd. Investors of record on Tuesday, October 15th will be paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 3.78%. The ex-dividend date is Thursday, October 10th.
ConocoPhillips explores for, produces, transports and markets crude oil, natural gas, natural gas liquids, liquefied natural gas and bitumen on a worldwide basis.
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