ConocoPhillips Given New $73.00 Price Target at Guggenheim (COP)
Investment analysts at Guggenheim hoisted their price objective on shares of ConocoPhillips (NYSE:COP) from $67.00 to $73.00 in a note issued to investors on Friday, American Banking and Market News reports. Guggenheim’s price objective would suggest a potential upside of 3.01% from the stock’s previous close.
A number of other analysts have also recently weighed in on COP. Analysts at Morgan Stanley upgraded shares of ConocoPhillips from an “underweight” rating to an “equal weight” rating in a research note on Friday. They now have a $85.00 price target on the stock, up previously from $69.00. Separately, analysts at Bank of America reiterated an “underperform” rating on shares of ConocoPhillips in a research note on Friday. They now have a $75.00 price target on the stock. Finally, analysts at Cowen and Company raised their price target on shares of ConocoPhillips from $72.00 to $77.00 in a research note on Friday. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $75.12.
ConocoPhillips (NYSE:COP) traded up 1.66% on Friday, hitting $70.87. 8,390,891 shares of the company’s stock traded hands. ConocoPhillips has a 1-year low of $56.38 and a 1-year high of $74.59. The stock’s 50-day moving average is $67.98 and its 200-day moving average is $69.51. The company has a market cap of $86.894 billion and a P/E ratio of 9.45.
ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, January 30th. The company reported $1.40 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.31 by $0.09. On average, analysts predict that ConocoPhillips will post $6.10 earnings per share for the current fiscal year.
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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