Royal Bank Of Canada Analysts Give ConocoPhillips (COP) a $58.00 Price Target
ConocoPhillips (NYSE:COP) received a $58.00 price target from equities researchers at Royal Bank Of Canada in a research note issued to investors on Monday. The firm currently has a “buy” rating on the energy producer’s stock. Royal Bank Of Canada’s price objective would indicate a potential upside of 13.26% from the stock’s previous close.
COP has been the subject of several other reports. Jefferies Group LLC set a $54.00 price target on shares of ConocoPhillips and gave the stock a “buy” rating in a research note on Tuesday, August 29th. Zacks Investment Research lowered shares of ConocoPhillips from a “hold” rating to a “sell” rating in a research note on Monday, July 17th. BidaskClub upgraded shares of ConocoPhillips from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. Barclays PLC raised their price objective on shares of ConocoPhillips from $55.00 to $59.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Piper Jaffray Companies set a $45.00 price objective on shares of ConocoPhillips and gave the company a “buy” rating in a research note on Friday, August 25th. Four equities 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’s stock. The company presently has an average rating of “Hold” and an average target price of $55.20.
Shares of ConocoPhillips (NYSE COP) traded up 0.37% on Monday, hitting $51.40. 1,483,946 shares of the stock were exchanged. The company has a 50-day moving average price of $48.89 and a 200 day moving average price of $46.20. ConocoPhillips has a 12 month low of $42.26 and a 12 month high of $53.17. The company’s market cap is $62.55 billion.
ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, October 26th. The energy producer reported $0.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.08. The company had revenue of $7.20 billion during the quarter, compared to analyst estimates of $6.55 billion. ConocoPhillips had a negative net margin of 7.32% and a positive return on equity of 0.12%. During the same period last year, the business earned ($0.66) EPS. Equities analysts forecast that ConocoPhillips will post $0.35 EPS for the current fiscal year.
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Institutional investors and hedge funds have recently bought and sold shares of the stock. Patten & Patten Inc. TN boosted its holdings in shares of ConocoPhillips by 4.6% in the second quarter. Patten & Patten Inc. TN now owns 59,322 shares of the energy producer’s stock worth $2,608,000 after buying an additional 2,607 shares during the last quarter. Point View Wealth Management Inc. boosted its holdings in shares of ConocoPhillips by 19.8% in the second quarter. Point View Wealth Management Inc. now owns 32,939 shares of the energy producer’s stock worth $1,448,000 after buying an additional 5,452 shares during the last quarter. Shell Asset Management Co. boosted its holdings in shares of ConocoPhillips by 2.4% in the second quarter. Shell Asset Management Co. now owns 202,066 shares of the energy producer’s stock worth $8,883,000 after buying an additional 4,647 shares during the last quarter. First Foundation Advisors purchased a new position in shares of ConocoPhillips in the first quarter worth approximately $497,000. Finally, FMR LLC boosted its holdings in shares of ConocoPhillips by 6.9% in the first quarter. FMR LLC now owns 61,497,903 shares of the energy producer’s stock worth $3,066,900,000 after buying an additional 3,982,002 shares during the last quarter. 68.88% of the stock is currently owned by institutional investors.
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.
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