ConocoPhillips Shares Gap Up Following Analyst Upgrade (COP)
Shares of ConocoPhillips (NYSE:COP) gapped up before the market opened on Monday after Barclays raised their price target on the stock from $88.00 to $100.00, AnalystRatings.Net reports. The stock had previously closed at $85.35, but opened at $85.36. Barclays currently has an overweight rating on the stock. ConocoPhillips shares last traded at $86.03, with a volume of 3,588,604 shares changing hands.
Several other analysts have also recently commented on the stock. Analysts at Jefferies Group initiated coverage on shares of ConocoPhillips in a research note on Friday, June 13th. They set a “hold” rating and a $89.00 price target on the stock. Separately, analysts at Howard Weil upgraded shares of ConocoPhillips from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, June 11th. They now have a $90.00 price target on the stock, up previously from $75.00. Finally, analysts at Oppenheimer initiated coverage on shares of ConocoPhillips in a research note on Tuesday, June 10th. They set a “buy” rating and a $94.00 price target on the stock. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $86.94.
The stock’s 50-day moving average is $79.93 and its 200-day moving average is $71.58. The company has a market cap of $105.4 billion and a P/E ratio of 11.61.
ConocoPhillips (NYSE:COP) last released its earnings data on Thursday, May 1st. The company reported $1.81 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.56 by $0.25. During the same quarter in the prior year, the company posted $1.42 earnings per share. Analysts expect that ConocoPhillips will post $6.39 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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