ConocoPhillips (NYSE:COP) Upgraded by StockNews.com to “Buy”

ConocoPhillips (NYSE:COPGet Rating) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

COP has been the subject of several other reports. The Goldman Sachs Group upgraded shares of ConocoPhillips from a “neutral” rating to a “buy” rating and raised their target price for the company from $78.00 to $101.00 in a report on Tuesday, January 18th. Zacks Investment Research downgraded shares of ConocoPhillips from a “buy” rating to a “hold” rating and set a $107.00 target price for the company. in a report on Tuesday, April 5th. Susquehanna raised their target price on shares of ConocoPhillips from $108.00 to $129.00 in a report on Monday, April 25th. Raymond James lifted their price target on shares of ConocoPhillips from $120.00 to $160.00 and gave the stock a “strong-buy” rating in a report on Monday, April 25th. Finally, Royal Bank of Canada lifted their price target on shares of ConocoPhillips from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Monday, March 7th. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, ConocoPhillips presently has a consensus rating of “Buy” and a consensus target price of $105.79.

Shares of NYSE COP opened at $102.91 on Friday. The company has a quick ratio of 1.41, a current ratio of 1.51 and a debt-to-equity ratio of 0.36. The firm has a 50-day moving average price of $99.64 and a 200 day moving average price of $87.05. ConocoPhillips has a 52 week low of $51.41 and a 52 week high of $107.71. The stock has a market capitalization of $133.11 billion, a price-to-earnings ratio of 10.61, a price-to-earnings-growth ratio of 0.35 and a beta of 1.36.

ConocoPhillips (NYSE:COPGet Rating) last posted its earnings results on Thursday, May 5th. The energy producer reported $3.27 earnings per share for the quarter, beating the consensus estimate of $3.24 by $0.03. ConocoPhillips had a net margin of 22.52% and a return on equity of 24.89%. The firm had revenue of $19.29 billion during the quarter, compared to the consensus estimate of $18.36 billion. During the same period last year, the firm posted $0.69 EPS. The firm’s revenue for the quarter was up 82.7% on a year-over-year basis. Equities research analysts expect that ConocoPhillips will post 14.52 EPS for the current fiscal year.

In other news, VP Heather G. Sirdashney sold 5,700 shares of the business’s stock in a transaction on Friday, March 4th. The shares were sold at an average price of $98.71, for a total transaction of $562,647.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Nicholas G. Olds sold 19,600 shares of the business’s stock in a transaction on Friday, March 4th. The stock was sold at an average price of $99.95, for a total transaction of $1,959,020.00. The disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of COP. Diamond Hill Capital Management Inc. acquired a new stake in ConocoPhillips in the first quarter valued at $702,569,000. BlackRock Inc. raised its holdings in ConocoPhillips by 3.4% in the fourth quarter. BlackRock Inc. now owns 111,073,845 shares of the energy producer’s stock valued at $8,017,310,000 after acquiring an additional 3,652,817 shares in the last quarter. Cowa LLC raised its holdings in ConocoPhillips by 6,475.2% in the first quarter. Cowa LLC now owns 2,375,224 shares of the energy producer’s stock valued at $2,383,000 after acquiring an additional 2,339,100 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in ConocoPhillips by 23.1% in the fourth quarter. Nuveen Asset Management LLC now owns 10,653,790 shares of the energy producer’s stock valued at $768,990,000 after acquiring an additional 2,001,581 shares in the last quarter. Finally, Eaton Vance Management raised its holdings in ConocoPhillips by 250.3% in the third quarter. Eaton Vance Management now owns 1,933,095 shares of the energy producer’s stock valued at $130,268,000 after acquiring an additional 1,381,331 shares in the last quarter. 78.80% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Company Profile (Get Rating)

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. It primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations. The company's 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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Analyst Recommendations for ConocoPhillips (NYSE:COP)

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