Credit Suisse Group Begins Coverage on ConocoPhillips (COP)

Stock analysts at Credit Suisse Group began coverage on shares of ConocoPhillips (NYSE:COP) in a report issued on Monday, December 11th, MarketBeat Ratings reports. The brokerage set a “neutral” rating and a $50.00 price target on the energy producer’s stock. Credit Suisse Group’s price target indicates a potential downside of 9.91% from the stock’s previous close.

Several other analysts have also recently issued reports on COP. Royal Bank of Canada reiterated a “buy” rating and set a $54.00 target price on shares of ConocoPhillips in a research report on Friday, September 29th. Scotiabank reiterated a “buy” rating and set a $53.00 target price on shares of ConocoPhillips in a research report on Friday, September 29th. Jefferies Group set a $54.00 target price on ConocoPhillips and gave the stock a “buy” rating in a research report on Tuesday, August 29th. Piper Jaffray Companies set a $45.00 target price on ConocoPhillips and gave the stock a “buy” rating in a research report on Friday, August 25th. Finally, Morgan Stanley increased their target price on ConocoPhillips from $45.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 18th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the stock. ConocoPhillips currently has a consensus rating of “Buy” and an average target price of $55.41.

Shares of ConocoPhillips (COP) traded down $0.45 on Monday, reaching $55.50. The company’s stock had a trading volume of 3,834,195 shares, compared to its average volume of 5,980,000. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.23 and a current ratio of 2.38. The stock has a market capitalization of $66,350.00, a PE ratio of -27.89, a price-to-earnings-growth ratio of 13.49 and a beta of 1.26. ConocoPhillips has a fifty-two week low of $42.26 and a fifty-two week high of $56.21.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, October 26th. The energy producer reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.08. The business had revenue of $7.20 billion during the quarter, compared to analysts’ expectations 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 quarter in the prior year, the business posted ($0.66) earnings per share. equities research analysts forecast that ConocoPhillips will post 0.55 EPS for the current year.

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.

Large investors have recently bought and sold shares of the company. Wellington Management Group LLP increased its holdings in ConocoPhillips by 255.3% during the 1st quarter. Wellington Management Group LLP now owns 12,803,885 shares of the energy producer’s stock worth $638,530,000 after purchasing an additional 9,200,014 shares during the period. BlackRock Inc. increased 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 worth $3,772,723,000 after purchasing an additional 6,197,896 shares during the period. FMR LLC increased its holdings in ConocoPhillips by 6.9% during the 1st quarter. FMR LLC now owns 61,497,903 shares of the energy producer’s stock worth $3,066,900,000 after purchasing an additional 3,982,002 shares during the period. AJO LP increased 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 worth $131,353,000 after purchasing an additional 2,891,652 shares during the period. Finally, Franklin Resources Inc. increased 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 worth $528,635,000 after purchasing an additional 2,134,292 shares during the period. 69.62% of the stock is owned by institutional investors and hedge funds.

WARNING: This story was posted by American Banking and Market News and is the sole property of of American Banking and Market News. If you are viewing this story on another domain, it was stolen and reposted in violation of United States and international trademark and copyright laws. The original version of this story can be accessed at https://www.americanbankingnews.com/2017/12/24/credit-suisse-group-begins-coverage-on-conocophillips-cop.html.

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)