ConocoPhillips Upgraded to Outperform by Howard Weil (COP)
ConocoPhillips (NYSE:COP) was upgraded by equities researchers at Howard Weil from a “sector perform” rating to an “outperform” rating in a research report issued on Wednesday, TheFlyOnTheWall.com reports. The firm currently has a $90.00 price objective on the stock, up from their previous price objective of $75.00. Howard Weil’s price target indicates a potential upside of 10.25% from the company’s current price.
COP has been the subject of a number of other recent research reports. Analysts at Oppenheimer initiated coverage on shares of ConocoPhillips in a research note on Tuesday. They set a “buy” rating and a $94.00 price target on the stock. Separately, analysts at Deutsche Bank initiated coverage on shares of ConocoPhillips in a research note on Tuesday. They set a “buy” rating and a $94.00 price target on the stock. Finally, analysts at Citigroup Inc. raised their price target on shares of ConocoPhillips from $85.00 to $95.00 in a research note on Friday, June 6th. One analyst has rated the stock with a sell rating, seven have given a hold rating, nine 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 “Buy” and a consensus target price of $84.82.
In other ConocoPhillips news, SVP Janet Langford Kelly sold 31,924 shares of the company’s stock on the open market in a transaction dated Friday, June 6th. The stock was sold at an average price of $80.82, for a total transaction of $2,580,097.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
ConocoPhillips (NYSE:COP) opened at 81.56 on Wednesday. ConocoPhillips has a 1-year low of $58.71 and a 1-year high of $81.66. The stock’s 50-day moving average is $77.82 and its 200-day moving average is $70.91. The company has a market cap of $100.1 billion and a P/E ratio of 11.10.
ConocoPhillips (NYSE:COP) last posted its quarterly earnings results 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 $6.38 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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