ConocoPhillips (NYSE:COP) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Friday.
COP has been the topic of a number of other reports. Royal Bank Of Canada set a $62.00 price target on shares of ConocoPhillips and gave the company a “buy” rating in a research note on Sunday, July 16th. Zacks Investment Research cut shares of ConocoPhillips from a “hold” rating to a “sell” rating in a report on Monday, July 17th. Jefferies Group LLC restated a “hold” rating and issued a $55.00 price objective on shares of ConocoPhillips in a report on Friday, May 5th. Scotiabank set a $54.00 price objective on shares of ConocoPhillips and gave the company a “buy” rating in a report on Tuesday, August 1st. Finally, Goldman Sachs Group, Inc. (The) restated a “neutral” rating and issued a $52.00 price objective on shares of ConocoPhillips in a report on Thursday, June 22nd. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. ConocoPhillips has an average rating of “Buy” and an average target price of $55.18.
Shares of ConocoPhillips (NYSE COP) traded down 0.04% during mid-day trading on Friday, reaching $44.95. 1,011,712 shares of the company’s stock traded hands. The company’s market cap is $54.70 billion. ConocoPhillips has a 12-month low of $39.00 and a 12-month high of $53.17. The company’s 50 day moving average is $44.17 and its 200 day moving average is $46.53.
ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, July 27th. The energy producer reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.16. ConocoPhillips had a negative net margin of 12.29% and a negative return on equity of 2.86%. The company had revenue of $8.88 billion for the quarter, compared to the consensus estimate of $6.74 billion. During the same period in the previous year, the firm earned ($0.79) earnings per share. On average, analysts predict that ConocoPhillips will post $0.25 EPS for the current fiscal year.
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In related news, VP James D. Mcmorran sold 9,091 shares of the stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $47.47, for a total value of $431,549.77. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.82% of the company’s stock.
Large investors have recently modified their holdings of the stock. Financial Management Professionals Inc. boosted its stake in shares of ConocoPhillips by 0.3% in the second quarter. Financial Management Professionals Inc. now owns 2,294 shares of the energy producer’s stock worth $100,000 after buying an additional 6 shares during the last quarter. First Command Bank boosted its stake in ConocoPhillips by 9.4% in the second quarter. First Command Bank now owns 2,313 shares of the energy producer’s stock valued at $101,000 after buying an additional 199 shares in the last quarter. Gemmer Asset Management LLC boosted its stake in ConocoPhillips by 0.4% in the first quarter. Gemmer Asset Management LLC now owns 2,167 shares of the energy producer’s stock valued at $108,000 after buying an additional 8 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in ConocoPhillips by 30.9% in the first quarter. Quadrant Capital Group LLC now owns 2,413 shares of the energy producer’s stock valued at $109,000 after buying an additional 569 shares in the last quarter. Finally, Advocacy Wealth Management Services LLC boosted its stake in ConocoPhillips by 4.5% in the first quarter. Advocacy Wealth Management Services LLC now owns 2,329 shares of the energy producer’s stock valued at $116,000 after buying an additional 100 shares in the last quarter. 68.84% of the stock is currently owned by hedge funds and other institutional investors.
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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