ConocoPhillips (NYSE:COP)‘s stock had its “buy” rating reaffirmed by equities research analysts at Piper Jaffray Companies in a report issued on Thursday. They currently have a $52.00 target price on the energy producer’s stock. Piper Jaffray Companies’ price objective would indicate a potential upside of 4.61% from the stock’s current price.

Other analysts have also recently issued reports about the company. Citigroup Inc. reduced their price objective on ConocoPhillips from $65.00 to $57.00 and set a “buy” rating on the stock in a research note on Friday, July 21st. Cowen and Company set a $55.00 price objective on ConocoPhillips and gave the company a “buy” rating in a research note on Tuesday, July 18th. Royal Bank Of Canada set a $62.00 price objective on ConocoPhillips and gave the company a “buy” rating in a research note on Sunday, July 16th. Scotiabank set a $54.00 price objective on ConocoPhillips and gave the company a “buy” rating in a research note on Saturday, July 1st. Finally, Jefferies Group LLC set a $59.00 price objective on ConocoPhillips and gave the company a “buy” rating in a research note on Sunday, July 30th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. ConocoPhillips currently has a consensus rating of “Hold” and a consensus price target of $54.20.

Shares of ConocoPhillips (NYSE COP) remained flat at $49.71 during midday trading on Thursday. 4,013,259 shares of the company’s stock were exchanged. The firm’s 50 day moving average price is $47.78 and its 200-day moving average price is $46.13. ConocoPhillips has a 52-week low of $40.96 and a 52-week high of $53.17. The stock’s market cap is $60.49 billion.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, July 27th. The energy producer reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 2.86% and a negative net margin of 12.29%. During the same period last year, the firm earned ($0.79) earnings per share. On average, equities research analysts expect that ConocoPhillips will post $0.31 earnings per share for the current year.

COPYRIGHT VIOLATION NOTICE: “ConocoPhillips’ (COP) “Buy” Rating Reaffirmed at Piper Jaffray Companies” was originally published by American Banking News and is the sole property of of American Banking News. If you are accessing this piece of content on another website, it was copied illegally and republished in violation of US & international copyright laws. The correct version of this piece of content can be viewed at https://www.americanbankingnews.com/2017/10/19/conocophillips-cop-buy-rating-reaffirmed-at-piper-jaffray-companies.html.

Several hedge funds have recently bought and sold shares of COP. Wellington Management Group LLP lifted its position in shares of ConocoPhillips by 255.3% during the 1st quarter. Wellington Management Group LLP now owns 12,803,885 shares of the energy producer’s stock valued at $638,530,000 after acquiring an additional 9,200,014 shares during the period. BlackRock Inc. lifted its position in shares of ConocoPhillips by 7.8% during the 2nd quarter. BlackRock Inc. now owns 85,821,694 shares of the energy producer’s stock valued at $3,772,723,000 after acquiring an additional 6,197,896 shares during the period. FMR LLC lifted its position in shares of ConocoPhillips by 6.9% during the 1st quarter. FMR LLC now owns 61,497,903 shares of the energy producer’s stock valued at $3,066,900,000 after acquiring an additional 3,982,002 shares during the period. AJO LP lifted its position in shares of ConocoPhillips by 3,000.7% during the 2nd quarter. AJO LP now owns 2,988,018 shares of the energy producer’s stock valued at $131,353,000 after acquiring an additional 2,891,652 shares during the period. Finally, State Street Corp lifted its position in shares of ConocoPhillips by 3.9% during the 1st quarter. State Street Corp now owns 65,388,296 shares of the energy producer’s stock valued at $3,260,918,000 after acquiring an additional 2,452,533 shares during the period. Institutional investors own 68.85% of the company’s stock.

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)

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.