ConocoPhillips (COP) Price Target Raised to $72.00 at Barclays

ConocoPhillips (NYSE:COP) had its price target hoisted by analysts at Barclays from $59.00 to $72.00 in a research note issued on Friday. The firm currently has an “overweight” rating on the energy producer’s stock. Barclays’ price target would indicate a potential upside of 24.74% from the company’s previous close.

Several other brokerages have also issued reports on COP. Royal Bank of Canada boosted their target price on shares of ConocoPhillips from $58.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday, November 9th. Morgan Stanley boosted their target price on shares of ConocoPhillips from $48.00 to $65.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 24th. Cowen set a $70.00 target price on shares of ConocoPhillips and gave the company a “buy” rating in a research report on Thursday, January 18th. Credit Suisse Group initiated coverage on shares of ConocoPhillips in a research report on Monday, December 11th. They set a “neutral” rating and a $50.00 target price for the company. Finally, Howard Weil lowered shares of ConocoPhillips from a “focus list” rating to an “outperform” rating and set a $58.00 target price for the company. in a research report on Friday, December 22nd. One 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 given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $58.71.

Shares of ConocoPhillips (NYSE COP) traded down $1.63 during midday trading on Friday, reaching $57.72. 8,433,002 shares of the company traded hands, compared to its average volume of 5,270,000. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.38 and a quick ratio of 2.23. The company has a market capitalization of $69,010.00, a price-to-earnings ratio of -29.01, a price-to-earnings-growth ratio of 2.29 and a beta of 1.32. ConocoPhillips has a 12 month low of $42.26 and a 12 month high of $61.31.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, February 1st. The energy producer reported $0.45 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.45. The company had revenue of $8.74 billion during the quarter, compared to analyst estimates of $7.70 billion. ConocoPhillips had a negative net margin of 7.32% and a positive return on equity of 0.12%. During the same period in the previous year, the business posted ($0.26) earnings per share. analysts predict that ConocoPhillips will post 0.59 EPS for the current fiscal year.

ConocoPhillips declared that its board has authorized a share buyback program on Wednesday, November 8th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the energy producer to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

In other news, Director Charles E. Bunch purchased 2,000 shares of the company’s stock in a transaction on Monday, December 11th. The stock was acquired at an average cost of $52.06 per share, for a total transaction of $104,120.00. Following the completion of the transaction, the director now directly owns 3,429 shares in the company, valued at approximately $178,513.74. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.82% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in shares of ConocoPhillips by 468.8% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,820 shares of the energy producer’s stock worth $100,000 after buying an additional 1,500 shares in the last quarter. Krilogy Financial LLC lifted its holdings in shares of ConocoPhillips by 48.6% in the second quarter. Krilogy Financial LLC now owns 2,392 shares of the energy producer’s stock worth $105,000 after buying an additional 782 shares in the last quarter. Rocky Mountain Advisers LLC lifted its holdings in shares of ConocoPhillips by 140.2% in the third quarter. Rocky Mountain Advisers LLC now owns 2,392 shares of the energy producer’s stock worth $120,000 after buying an additional 1,396 shares in the last quarter. First Personal Financial Services lifted its holdings in shares of ConocoPhillips by 111.9% in the fourth quarter. First Personal Financial Services now owns 2,649 shares of the energy producer’s stock worth $145,000 after buying an additional 1,399 shares in the last quarter. Finally, Clear Perspective Advisors LLC lifted its holdings in shares of ConocoPhillips by 75.5% in the second quarter. Clear Perspective Advisors LLC now owns 2,790 shares of the energy producer’s stock worth $123,000 after buying an additional 1,200 shares in the last quarter. 69.63% of the stock is currently owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION NOTICE: “ConocoPhillips (COP) Price Target Raised to $72.00 at Barclays” was originally published by American Banking and Market News and is the property of of American Banking and Market News. If you are viewing this story on another publication, it was copied illegally and republished in violation of US & international trademark and copyright legislation. The original version of this story can be viewed at https://www.americanbankingnews.com/2018/02/02/conocophillips-cop-price-target-raised-to-72-00-at-barclays.html.

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.

Analyst Recommendations for ConocoPhillips (NYSE:COP)