ConocoPhillips (NYSE:COP) was upgraded by stock analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.

COP has been the subject of several other reports. Guggenheim assumed coverage on shares of ConocoPhillips in a research report on Tuesday, April 18th. They set a “neutral” rating for the company. Cowen and Company reiterated a “buy” rating on shares of ConocoPhillips in a research report on Friday, April 14th. Bank of America Corporation cut shares of ConocoPhillips from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $68.00 to $67.00 in a research report on Thursday, May 11th. Jefferies Group LLC upgraded shares of ConocoPhillips from a “hold” rating to a “buy” rating and increased their price objective for the stock from $55.00 to $59.00 in a research report on Wednesday, May 17th. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $62.00 price objective on shares of ConocoPhillips in a research report on Thursday, June 15th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. ConocoPhillips has a consensus rating of “Buy” and an average price target of $55.18.

ConocoPhillips (NYSE:COP) traded down 0.40% during mid-day trading on Friday, reaching $44.79. 4,206,885 shares of the company’s stock were exchanged. ConocoPhillips has a 12 month low of $39.00 and a 12 month high of $53.17. The firm’s market cap is $54.51 billion. The stock has a 50-day moving average of $44.17 and a 200-day moving average of $46.50.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, July 27th. The energy producer reported $0.14 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.16. ConocoPhillips had a negative net margin of 12.29% and a negative return on equity of 2.86%. The firm had revenue of $8.88 billion during the quarter, compared to analysts’ expectations of $6.74 billion. During the same period in the prior year, the company posted ($0.79) EPS. Analysts anticipate that ConocoPhillips will post $0.25 earnings per share for the current year.

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In other ConocoPhillips news, VP James D. Mcmorran sold 9,091 shares of the firm’s stock in a transaction on Friday, May 19th. The shares were sold at an average price of $47.47, for a total value of $431,549.77. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.82% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Financial Management Professionals Inc. raised its position in ConocoPhillips by 0.3% in the second quarter. Financial Management Professionals Inc. now owns 2,294 shares of the energy producer’s stock worth $100,000 after buying an additional 6 shares during the period. First Command Bank raised its position in ConocoPhillips by 9.4% in the second quarter. First Command Bank now owns 2,313 shares of the energy producer’s stock worth $101,000 after buying an additional 199 shares during the last quarter. Gemmer Asset Management LLC raised its position in ConocoPhillips by 0.4% in the first quarter. Gemmer Asset Management LLC now owns 2,167 shares of the energy producer’s stock worth $108,000 after buying an additional 8 shares during the last quarter. Quadrant Capital Group LLC raised its position in ConocoPhillips by 30.9% in the first quarter. Quadrant Capital Group LLC now owns 2,413 shares of the energy producer’s stock worth $109,000 after buying an additional 569 shares during the last quarter. Finally, Advocacy Wealth Management Services LLC raised its position in ConocoPhillips by 4.5% in the first quarter. Advocacy Wealth Management Services LLC now owns 2,329 shares of the energy producer’s stock worth $116,000 after buying an additional 100 shares during the last quarter. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

About ConocoPhillips

ConocoPhillips is an independent exploration and production company. The Company explores for, produces, transports and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG) and natural gas liquids. The Company operates through five segments: Alaska, Lower 48, Canada, Europe and North Africa, Asia Pacific and Middle East, and Other International.

Analyst Recommendations for ConocoPhillips (NYSE:COP)

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