ConocoPhillips (NYSE:COP) had its target price raised by JPMorgan Chase from $62.00 to $64.00 in a report published on Monday. The firm currently has an overweight rating on the energy producer’s stock.
Other analysts also recently issued reports about the company. Piper Jaffray reiterated a buy rating and issued a $63.00 price target on shares of ConocoPhillips in a report on Wednesday, January 24th. Cowen set a $70.00 price target on ConocoPhillips and gave the company a buy rating in a report on Thursday, January 18th. Goldman Sachs upgraded 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. Royal Bank of Canada set a $61.00 target price on ConocoPhillips and gave the company a buy rating in a research note on Wednesday, December 20th. Finally, Citigroup raised their target price on ConocoPhillips from $57.00 to $63.00 and gave the company a buy rating in a research note on Friday, February 9th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $59.92.
Shares of NYSE COP opened at $63.24 on Monday. ConocoPhillips has a 12-month low of $42.26 and a 12-month high of $63.88. The firm has a market capitalization of $73,223.20, a P/E ratio of 105.40, a P/E/G ratio of 1.83 and a beta of 1.23. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.76 and a quick ratio of 1.64.
ConocoPhillips (NYSE:COP) last announced its quarterly 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. ConocoPhillips had a positive return on equity of 2.81% and a negative net margin of 2.04%. The firm had revenue of $8.74 billion during the quarter, compared to the consensus estimate of $7.70 billion. During the same period in the prior year, the firm earned ($0.26) EPS. analysts forecast that ConocoPhillips will post 2.92 earnings per share for the current year.
ConocoPhillips announced that its Board of Directors has authorized a stock repurchase plan on Thursday, February 1st that allows the company to buyback $500.00 million in shares. This buyback authorization allows the energy producer to purchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
In other news, SVP Andrew D. Lundquist sold 25,000 shares of the stock in a transaction dated Thursday, March 29th. The shares were sold at an average price of $58.96, for a total transaction of $1,474,000.00. Following the transaction, the senior vice president now owns 27,353 shares of the company’s stock, valued at $1,612,732.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.88% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Harel Insurance Investments & Financial Services Ltd. lifted its position in shares of ConocoPhillips by 468.8% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,820 shares of the energy producer’s stock worth $100,000 after purchasing an additional 1,500 shares during the last quarter. Rocky Mountain Advisers LLC lifted its holdings in 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 acquiring an additional 1,396 shares during the last quarter. Truewealth LLC bought a new position in ConocoPhillips in the fourth quarter worth about $138,000. Valeo Financial Advisors LLC bought a new position in ConocoPhillips in the third quarter worth about $142,000. Finally, Highlander Capital Management LLC lifted its holdings in ConocoPhillips by 74.6% in the third quarter. Highlander Capital Management LLC now owns 2,856 shares of the energy producer’s stock worth $143,000 after acquiring an additional 1,220 shares during the last quarter. 71.15% of the stock is currently owned by institutional investors and hedge funds.
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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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