Scotiabank Reiterates Buy Rating for ConocoPhillips (COP)
ConocoPhillips (NYSE:COP)‘s stock had its “buy” rating reiterated by equities research analysts at Scotiabank in a research note issued to investors on Friday. They presently have a $52.00 price target on the energy producer’s stock. Scotiabank’s price objective would indicate a potential upside of 15.27% from the company’s previous close.
A number of other equities analysts have also recently commented on the stock. BidaskClub cut shares of ConocoPhillips from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 27th. Citigroup Inc. cut their target price on shares of ConocoPhillips from $65.00 to $57.00 and set a “buy” rating on the stock in a report on Friday, July 21st. Royal Bank Of Canada set a $62.00 target price on shares of ConocoPhillips and gave the company a “buy” rating in a report on Sunday, July 16th. Sanford C. Bernstein cut shares of ConocoPhillips from an “outperform” rating to a “market perform” rating and cut their target price for the company from $63.00 to $42.00 in a report on Thursday, July 6th. Finally, Zacks Investment Research cut shares of ConocoPhillips from a “hold” rating to a “sell” rating in a report on Monday, July 17th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $54.03.
ConocoPhillips (COP) traded down 1.51% during mid-day trading on Friday, hitting $44.43. 1,674,658 shares of the stock were exchanged. ConocoPhillips has a 52-week low of $39.00 and a 52-week high of $53.17. The company has a 50 day moving average price of $44.14 and a 200 day moving average price of $45.74. The firm’s market cap is $54.07 billion.
ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, July 27th. The energy producer reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.16. The business had revenue of $8.88 billion for the quarter, compared to analysts’ expectations of $6.74 billion. ConocoPhillips had a negative net margin of 12.29% and a negative return on equity of 2.86%. During the same period in the previous year, the company posted ($0.79) EPS. On average, analysts anticipate that ConocoPhillips will post $0.24 EPS for the current year.
Institutional investors have recently added to or reduced their stakes in the stock. Financial Management Professionals Inc. boosted its position in shares of ConocoPhillips by 0.3% in the 2nd 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 in the last quarter. First Command Bank boosted its position in shares of ConocoPhillips by 9.4% in the 2nd quarter. First Command Bank now owns 2,313 shares of the energy producer’s stock worth $101,000 after buying an additional 199 shares in the last quarter. Krilogy Financial LLC boosted its position in shares of ConocoPhillips by 48.6% in the 2nd quarter. Krilogy Financial LLC now owns 2,392 shares of the energy producer’s stock worth $105,000 after buying an additional 782 shares in the last quarter. Smith Asset Management Group LP boosted its position in shares of ConocoPhillips by 6.0% in the 3rd quarter. Smith Asset Management Group LP now owns 2,470 shares of the energy producer’s stock worth $107,000 after buying an additional 140 shares in the last quarter. Finally, Gemmer Asset Management LLC boosted its position in shares of ConocoPhillips by 0.4% in the 1st 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 in the last quarter. Institutional investors and hedge funds own 68.99% of the company’s stock.
ConocoPhillips Company Profile
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.
Receive News & Ratings for ConocoPhillips Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ConocoPhillips and related companies with MarketBeat.com's FREE daily email newsletter.