ConocoPhillips (NYSE:COP) was downgraded by investment analysts at Howard Weil from a “focus list” rating to an “outperform” rating in a report issued on Friday.
COP has been the topic of a number of other research reports. Jefferies Group set a $54.00 target price on ConocoPhillips and gave the company a “buy” rating in a report on Tuesday, August 29th. Barclays increased their target price on ConocoPhillips from $55.00 to $59.00 and gave the company an “overweight” rating in a report on Friday, October 27th. Royal Bank of Canada set a $54.00 price target on ConocoPhillips and gave the stock a “buy” rating in a research report on Thursday, August 24th. Zacks Investment Research cut ConocoPhillips from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Finally, Scotiabank restated a “buy” rating and issued a $52.00 price target on shares of ConocoPhillips in a research report on Friday, September 8th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. ConocoPhillips presently has a consensus rating of “Buy” and a consensus price target of $55.25.
ConocoPhillips (NYSE COP) opened at $55.95 on Friday. The stock has a market capitalization of $64,856.74, a price-to-earnings ratio of 2,712.50, a PEG ratio of 13.08 and a beta of 1.26. The company has a current ratio of 2.38, a quick ratio of 2.23 and a debt-to-equity ratio of 0.64. ConocoPhillips has a 1-year low of $42.26 and a 1-year high of $56.07.
In related news, Director Charles E. Bunch acquired 2,000 shares of the stock in a transaction dated Monday, December 11th. The stock was acquired at an average cost of $52.06 per share, with a total value of $104,120.00. Following the purchase, the director now directly owns 3,429 shares of the company’s stock, valued at $178,513.74. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.82% of the stock is currently owned by corporate insiders.
Several hedge funds have recently modified their holdings of COP. Capital World Investors lifted its position in ConocoPhillips by 33.8% during the 4th quarter. Capital World Investors now owns 81,526,058 shares of the energy producer’s stock worth $3,806,452,000 after acquiring an additional 20,604,215 shares during the period. Norges Bank acquired a new position in shares of ConocoPhillips in the 4th quarter valued at about $546,863,000. Agran Libbie lifted its holdings in shares of ConocoPhillips by 9,558.8% in the 4th quarter. Agran Libbie now owns 9,763,868 shares of the energy producer’s stock valued at $4,559,000 after buying an additional 9,662,780 shares during the period. Wellington Management Group LLP lifted its holdings in shares of ConocoPhillips by 255.3% in 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 buying an additional 9,200,014 shares during the period. Finally, FMR LLC lifted its holdings in shares of ConocoPhillips by 17.3% in the 4th quarter. FMR LLC now owns 57,515,901 shares of the energy producer’s stock valued at $2,883,848,000 after buying an additional 8,487,514 shares during the period. 69.62% of the stock is owned by hedge funds and other institutional investors.
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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.
