ConocoPhillips (NYSE:COP) had its price target lifted by Morgan Stanley from $48.00 to $65.00 in a research note issued to investors on Wednesday. The brokerage presently has an “equal weight” rating on the energy producer’s stock. Morgan Stanley’s price objective points to a potential upside of 7.63% from the company’s current price.
A number of other research firms have also weighed in on COP. Macquarie began coverage on shares of ConocoPhillips in a report on Wednesday, January 17th. They set an “outperform” rating on the stock. Cowen set a $70.00 price target on shares of ConocoPhillips and gave the stock a “buy” rating in a report on Thursday, January 18th. Zacks Investment Research raised shares of ConocoPhillips from a “hold” rating to a “strong-buy” rating and set a $66.00 price target on the stock in a report on Wednesday, January 10th. Howard Weil lowered shares of ConocoPhillips from a “focus list” rating to an “outperform” rating and set a $58.00 price target on the stock. in a report on Friday, December 22nd. Finally, Royal Bank of Canada set a $61.00 price target on shares of ConocoPhillips and gave the stock a “buy” rating in a report on Wednesday, December 20th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $57.94.
ConocoPhillips (NYSE:COP) traded up $0.91 during trading on Wednesday, reaching $60.39. 5,148,504 shares of the company were exchanged, compared to its average volume of 5,390,000. The company has a quick ratio of 2.23, a current ratio of 2.38 and a debt-to-equity ratio of 0.64. The company has a market cap of $72,200.00, a price-to-earnings ratio of -30.35, a PEG ratio of 2.40 and a beta of 1.26. ConocoPhillips has a twelve month low of $42.26 and a twelve month high of $61.31.
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 Zacks’ consensus estimate of $0.08 by $0.08. The business had revenue of $7.20 billion for 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 quarter in the prior year, the firm posted ($0.66) EPS. research analysts anticipate that ConocoPhillips will post 0.57 earnings per share for the current year.
In other ConocoPhillips news, Director Charles E. Bunch acquired 2,000 shares of the business’s stock in a transaction dated Monday, December 11th. The stock was bought at an average price of $52.06 per share, with a total value of $104,120.00. Following the purchase, the director now owns 3,429 shares of the company’s stock, valued at $178,513.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.82% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the company. Financial Management Professionals Inc. boosted its stake in shares of ConocoPhillips by 0.3% in the 2nd quarter. Financial Management Professionals Inc. now owns 2,294 shares of the energy producer’s stock valued at $100,000 after purchasing an additional 6 shares in the last quarter. Krilogy Financial LLC boosted its stake in shares of ConocoPhillips by 48.6% in the 2nd quarter. Krilogy Financial LLC now owns 2,392 shares of the energy producer’s stock valued at $105,000 after purchasing an additional 782 shares in the last quarter. Rocky Mountain Advisers LLC boosted its position in ConocoPhillips by 140.2% during the 3rd quarter. Rocky Mountain Advisers LLC now owns 2,392 shares of the energy producer’s stock valued at $120,000 after buying an additional 1,396 shares during the period. First Personal Financial Services boosted its position in ConocoPhillips by 111.9% during the 4th quarter. First Personal Financial Services now owns 2,649 shares of the energy producer’s stock valued at $145,000 after buying an additional 1,399 shares during the period. Finally, Clear Perspective Advisors LLC boosted its position in ConocoPhillips by 75.5% during the 2nd quarter. Clear Perspective Advisors LLC now owns 2,790 shares of the energy producer’s stock valued at $123,000 after buying an additional 1,200 shares during the period. 69.54% of the stock is 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.