Macquarie started coverage on shares of ConocoPhillips (NYSE:COP) in a research note issued to investors on Wednesday morning, MarketBeat Ratings reports. The brokerage issued an outperform rating on the energy producer’s stock.
A number of other analysts have also weighed in on COP. Zacks Investment Research upgraded shares of ConocoPhillips from a hold rating to a strong-buy rating and set a $66.00 target price for the company in a report on Wednesday, January 10th. Howard Weil downgraded 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 note on Friday, December 22nd. Royal Bank of Canada set a $61.00 target price on shares of ConocoPhillips and gave the company a buy rating in a research note on Wednesday, December 20th. Goldman Sachs Group raised shares of ConocoPhillips from a neutral rating to a buy rating and set a $60.00 price target for the company in a research report on Wednesday, December 13th. Finally, Credit Suisse Group began coverage on shares of ConocoPhillips in a research report on Monday, December 11th. They set a neutral rating and a $50.00 price target for the company. One 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 given a strong buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $56.35.
Shares of ConocoPhillips (NYSE:COP) opened at $59.75 on Wednesday. The stock has a market cap of $71,430.00, a price-to-earnings ratio of -30.03, a price-to-earnings-growth ratio of 2.59 and a beta of 1.26. ConocoPhillips has a 1-year low of $42.26 and a 1-year high of $60.24. The company has a current ratio of 2.38, a quick ratio of 2.23 and a debt-to-equity ratio of 0.64.
ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, October 26th. The energy producer reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.08. ConocoPhillips had a negative net margin of 7.32% and a positive return on equity of 0.12%. The company had revenue of $7.20 billion during the quarter, compared to analyst estimates of $6.55 billion. During the same period in the previous year, the business earned ($0.66) earnings per share. equities research analysts forecast that ConocoPhillips will post 0.57 earnings per share for the current fiscal year.
In other news, Director Charles E. Bunch purchased 2,000 shares of the stock in a transaction that occurred on Monday, December 11th. The shares were purchased at an average cost of $52.06 per share, with a total value of $104,120.00. Following the completion of the acquisition, the director now owns 3,429 shares of the company’s stock, valued at approximately $178,513.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.82% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in ConocoPhillips by 1.9% during the second quarter. Vanguard Group Inc. now owns 90,547,596 shares of the energy producer’s stock valued at $3,980,473,000 after purchasing an additional 1,694,618 shares in the last quarter. BlackRock Inc. lifted its holdings in ConocoPhillips by 7.8% during the second 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 in the last quarter. Bank of New York Mellon Corp lifted its holdings in ConocoPhillips by 2.6% during the second quarter. Bank of New York Mellon Corp now owns 15,774,835 shares of the energy producer’s stock valued at $693,462,000 after purchasing an additional 397,339 shares in the last quarter. Franklin Resources Inc. lifted its holdings in ConocoPhillips by 21.6% during the second 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 in the last quarter. Finally, First Eagle Investment Management LLC lifted its holdings in ConocoPhillips by 3.0% during the third quarter. First Eagle Investment Management LLC now owns 10,608,598 shares of the energy producer’s stock valued at $530,960,000 after purchasing an additional 309,683 shares in the last quarter. 69.73% of the stock is currently owned by hedge funds and other institutional investors.
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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.
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