ConocoPhillips Receives “Underperform” Rating from Bank of America (COP)
ConocoPhillips (NYSE:COP)‘s stock had its “underperform” rating restated by stock analysts at Bank of America in a report issued on Friday, Stock Ratings News reports. They currently have a $77.00 price objective on the stock, up from their previous price objective of $75.00. Bank of America’s price target points to a potential upside of 0.63% from the stock’s previous close.
The analysts wrote, “We expect a top line growth outlook that lags peers while a substantial step up in exploration capital lacks the track record, prospect surety or materiality to move the needle, albeit we acknowledge the option value as part of the investment case. Taken together with a near term capital outlook that we view as substantially more capital intensive versus peers, we struggle to justify how COP can sustain a premium multiple vs. the peer group.”
A number of other firms have also recently commented on COP. Analysts at Barclays raised their price target on shares of ConocoPhillips from $83.00 to $88.00 in a research note on Friday. They now have an “overweight” rating on the stock. Separately, analysts at Guggenheim raised their price target on shares of ConocoPhillips from $73.00 to $82.00 in a research note on Wednesday, April 23rd. Finally, analysts at Howard Weil raised their price target on shares of ConocoPhillips from $73.00 to $75.00 in a research note on Wednesday, April 16th. They now have a “hold” rating on the stock. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $77.20.
Shares of ConocoPhillips (NYSE:COP) opened at 76.52 on Friday. ConocoPhillips has a 52 week low of $58.71 and a 52 week high of $76.85. The stock’s 50-day moving average is $71.21 and its 200-day moving average is $69.88. The company has a market cap of $93.821 billion and a price-to-earnings ratio of 10.17.
ConocoPhillips (NYSE:COP) last released its earnings data on Thursday, May 1st. The company reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.25. During the same quarter in the previous year, the company posted $1.42 earnings per share. Analysts expect that ConocoPhillips will post $6.05 EPS 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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