Analysts at Macquarie initiated coverage on shares of ConocoPhillips (NYSE:COP) in a research note issued to investors on Wednesday, The Fly reports. The firm set an “outperform” rating on the energy producer’s stock.
Several other research analysts have also weighed in on COP. Scotiabank reiterated a “buy” rating and set a $53.00 target price on shares of ConocoPhillips in a report on Friday, September 29th. Royal Bank of Canada reiterated a “buy” rating and set a $54.00 target price on shares of ConocoPhillips in a report on Friday, September 29th. Zacks Investment Research lowered ConocoPhillips from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. Barclays reissued an “overweight” rating and issued a $55.00 price target (up previously from $51.00) on shares of ConocoPhillips in a research note on Tuesday, October 10th. Finally, Morgan Stanley lifted their price target on ConocoPhillips from $45.00 to $48.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 18th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $55.47.
ConocoPhillips (NYSE COP) traded up $1.02 during mid-day trading on Wednesday, reaching $59.86. The company’s stock had a trading volume of 5,797,947 shares, compared to its average volume of 5,360,000. The company has a current ratio of 2.38, a quick ratio of 2.23 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $71,560.00, a price-to-earnings ratio of -30.08, a PEG ratio of 2.73 and a beta of 1.26. ConocoPhillips has a 52-week low of $42.26 and a 52-week high of $60.24.
ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, October 26th. The energy producer reported $0.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.08. The firm had revenue of $7.20 billion for the quarter, compared to analyst estimates of $6.55 billion. ConocoPhillips had a positive return on equity of 0.12% and a negative net margin of 7.32%. During the same period in the previous year, the company posted ($0.66) earnings per share. sell-side analysts expect that ConocoPhillips will post 0.57 earnings per share for the current year.
In other news, Director Charles E. Bunch purchased 2,000 shares of the company’s stock in a transaction on Monday, December 11th. The shares were purchased at an average price 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 approximately $178,513.74. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.82% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Capital World Investors grew its holdings in ConocoPhillips by 33.8% during the fourth quarter. Capital World Investors now owns 81,526,058 shares of the energy producer’s stock worth $3,806,452,000 after purchasing an additional 20,604,215 shares during the period. Norges Bank bought a new stake in shares of ConocoPhillips during the fourth quarter worth approximately $546,863,000. Agran Libbie boosted its holdings in shares of ConocoPhillips by 9,558.8% during the fourth quarter. Agran Libbie now owns 9,763,868 shares of the energy producer’s stock worth $4,559,000 after acquiring an additional 9,662,780 shares during the period. Wellington Management Group LLP boosted its holdings in shares of ConocoPhillips by 255.3% during the first quarter. Wellington Management Group LLP now owns 12,803,885 shares of the energy producer’s stock worth $638,530,000 after acquiring an additional 9,200,014 shares during the period. Finally, FMR LLC boosted its holdings in shares of ConocoPhillips by 17.3% during the fourth quarter. FMR LLC now owns 57,515,901 shares of the energy producer’s stock worth $2,883,848,000 after acquiring an additional 8,487,514 shares during the period. 69.73% of the stock is currently owned by institutional investors and hedge funds.
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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.