ConocoPhillips (NYSE:COP – Get Free Report) had its price target increased by analysts at Argus from $136.00 to $153.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the energy producer’s stock. Argus’ target price points to a potential upside of 17.61% from the stock’s current price.
COP has been the subject of several other reports. Capital One Financial cut their price target on shares of ConocoPhillips from $156.00 to $154.00 and set an “equal weight” rating for the company in a report on Monday, May 18th. Zacks Research cut shares of ConocoPhillips from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 27th. Scotiabank increased their price objective on ConocoPhillips from $100.00 to $125.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. Freedom Capital raised ConocoPhillips from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. Finally, Mizuho decreased their price target on shares of ConocoPhillips from $150.00 to $146.00 and set an “outperform” rating on the stock in a report on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $138.16.
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ConocoPhillips Trading Up 0.3%
ConocoPhillips (NYSE:COP – Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The energy producer reported $3.24 EPS for the quarter, beating the consensus estimate of $2.90 by $0.34. The company had revenue of $19.52 billion during the quarter, compared to analysts’ expectations of $18.79 billion. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. ConocoPhillips’s revenue for the quarter was up 32.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.42 earnings per share. On average, equities analysts expect that ConocoPhillips will post 10.05 earnings per share for the current fiscal year.
Institutional Investors Weigh In On ConocoPhillips
Institutional investors have recently made changes to their positions in the business. Patten Group Inc. lifted its holdings in ConocoPhillips by 1.5% in the first quarter. Patten Group Inc. now owns 5,447 shares of the energy producer’s stock worth $719,000 after buying an additional 83 shares during the period. IFC Advisors LLC raised its position in shares of ConocoPhillips by 0.4% in the 1st quarter. IFC Advisors LLC now owns 20,182 shares of the energy producer’s stock worth $2,664,000 after acquiring an additional 84 shares in the last quarter. Cornerstone Planning Group LLC lifted its stake in shares of ConocoPhillips by 9.6% in the 1st quarter. Cornerstone Planning Group LLC now owns 1,006 shares of the energy producer’s stock valued at $124,000 after purchasing an additional 88 shares during the period. Blue Trust Inc. boosted its position in shares of ConocoPhillips by 0.4% during the first quarter. Blue Trust Inc. now owns 21,144 shares of the energy producer’s stock valued at $2,791,000 after purchasing an additional 92 shares in the last quarter. Finally, Sigma Planning Corp boosted its position in shares of ConocoPhillips by 0.6% during the first quarter. Sigma Planning Corp now owns 16,062 shares of the energy producer’s stock valued at $2,120,000 after purchasing an additional 94 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.
ConocoPhillips Company Profile
ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.
The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.
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