ConocoPhillips (COP) Given a $70.00 Price Target at Cowen

ConocoPhillips (NYSE:COP) received a $70.00 price target from equities research analysts at Cowen in a research note issued to investors on Thursday. The brokerage presently has a “buy” rating on the energy producer’s stock. Cowen’s price objective would suggest a potential upside of 17.55% from the company’s previous close.

COP has been the subject of a number of other reports. Goldman Sachs Group raised ConocoPhillips from a “neutral” rating to a “buy” rating and set a $60.00 target price for the company in a research note on Wednesday, December 13th. Wells Fargo & Co increased their target price on ConocoPhillips from $57.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, October 27th. Piper Jaffray Companies reissued a “buy” rating and set a $53.00 target price on shares of ConocoPhillips in a research note on Friday, November 3rd. Scotiabank reissued a “buy” rating and set a $53.00 target price on shares of ConocoPhillips in a research note on Wednesday, November 1st. Finally, Royal Bank of Canada reissued a “buy” rating and set a $54.00 target price on shares of ConocoPhillips in a research note on Friday, September 29th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $56.35.

Shares of ConocoPhillips (NYSE:COP) traded down $0.21 during trading hours on Thursday, hitting $59.55. 1,495,018 shares of the company were exchanged, compared to its average volume of 5,270,000. The firm has a market cap of $71,250.00, a P/E ratio of -29.92, a price-to-earnings-growth ratio of 2.59 and a beta of 1.26. The company has a quick ratio of 2.23, a current ratio of 2.38 and a debt-to-equity ratio of 0.64. ConocoPhillips has a 1-year low of $42.26 and a 1-year high of $60.24.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, October 26th. The energy producer reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.08. The business had revenue of $7.20 billion for the quarter, compared to the consensus estimate 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 company posted ($0.66) EPS. equities analysts anticipate that ConocoPhillips will post 0.57 earnings per share for the current year.

In other news, Director Charles E. Bunch bought 2,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the purchase, the director now owns 3,429 shares of the company’s stock, valued at $178,513.74. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.82% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its holdings in 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 purchasing an additional 6,197,896 shares during the last quarter. AJO LP lifted its holdings in 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 purchasing an additional 2,891,652 shares during the last quarter. Franklin Resources Inc. lifted its holdings in ConocoPhillips by 21.6% during the 2nd quarter. Franklin Resources Inc. now owns 12,025,415 shares of the energy producer’s stock valued at $528,635,000 after purchasing an additional 2,134,292 shares during the last quarter. Brandywine Global Investment Management LLC lifted its holdings in ConocoPhillips by 183.5% during the 2nd quarter. Brandywine Global Investment Management LLC now owns 3,138,796 shares of the energy producer’s stock valued at $137,982,000 after purchasing an additional 2,031,830 shares during the last quarter. Finally, Eaton Vance Management lifted its holdings in ConocoPhillips by 49.2% during the 2nd quarter. Eaton Vance Management now owns 5,395,400 shares of the energy producer’s stock valued at $237,182,000 after purchasing an additional 1,780,223 shares during the last quarter. 69.73% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for ConocoPhillips (NYSE:COP)

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