Several other research firms have also recently commented on COP. Scotiabank lowered their price target on ConocoPhillips from $50.00 to $45.00 and set a “sector perform” rating for the company in a report on Monday, July 13th. Morgan Stanley boosted their target price on ConocoPhillips from $40.00 to $47.00 and gave the stock an “overweight” rating in a report on Friday, August 21st. Raymond James boosted their target price on ConocoPhillips from $46.00 to $48.00 and gave the stock an “outperform” rating in a report on Monday, July 20th. Jefferies Financial Group started coverage on ConocoPhillips in a research report on Friday, June 12th. They set a “buy” rating and a $56.00 price target on the stock. Finally, Mizuho boosted their price target on ConocoPhillips from $37.00 to $46.00 in a research report on Friday, June 19th. Five analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $55.65.
Shares of COP stock opened at $35.08 on Tuesday. The firm has a 50-day moving average price of $37.59 and a 200 day moving average price of $38.86. ConocoPhillips has a twelve month low of $20.84 and a twelve month high of $67.13. The company has a market capitalization of $37.62 billion, a price-to-earnings ratio of 17.28 and a beta of 1.65. The company has a current ratio of 2.69, a quick ratio of 2.45 and a debt-to-equity ratio of 0.47.
ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, July 30th. The energy producer reported ($0.92) EPS for the quarter, missing the consensus estimate of ($0.58) by ($0.34). The business had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $4.19 billion. ConocoPhillips had a net margin of 8.49% and a return on equity of 3.72%. During the same quarter last year, the firm earned $1.01 EPS. As a group, research analysts predict that ConocoPhillips will post -0.69 earnings per share for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Demars Financial Group LLC acquired a new stake in ConocoPhillips in the second quarter valued at $61,000. Schonfeld Strategic Advisors LLC grew its stake in shares of ConocoPhillips by 155.3% in the 2nd quarter. Schonfeld Strategic Advisors LLC now owns 117,734 shares of the energy producer’s stock valued at $4,947,000 after buying an additional 71,610 shares during the period. Principal Financial Group Inc. grew its stake in shares of ConocoPhillips by 6.8% in the 2nd quarter. Principal Financial Group Inc. now owns 1,931,115 shares of the energy producer’s stock valued at $81,146,000 after buying an additional 123,336 shares during the period. Ninety One UK Ltd lifted its position in ConocoPhillips by 12.1% in the 2nd quarter. Ninety One UK Ltd now owns 703,636 shares of the energy producer’s stock valued at $29,567,000 after acquiring an additional 75,941 shares in the last quarter. Finally, Capital Advisors Inc. OK lifted its position in ConocoPhillips by 6.5% in the 2nd quarter. Capital Advisors Inc. OK now owns 22,795 shares of the energy producer’s stock valued at $867,000 after acquiring an additional 1,395 shares in the last quarter. Hedge funds and other institutional investors own 72.02% of the company’s stock.
ConocoPhillips Company Profile
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the tight oil reservoirs, LNG, oil sands, and other production operations. Its portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.
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