ConocoPhillips (NYSE:COP) has been given a $70.00 price target by analysts at Royal Bank of Canada in a report released on Friday. The brokerage currently has a “buy” rating on the energy producer’s stock. Royal Bank of Canada’s target price points to a potential upside of 7.86% from the company’s previous close.
A number of other analysts also recently issued reports on the company. Scotiabank reaffirmed a “buy” rating and issued a $64.00 target price on shares of ConocoPhillips in a research note on Monday, April 9th. JPMorgan Chase raised their price objective on ConocoPhillips from $62.00 to $64.00 and gave the stock an “overweight” rating in a research report on Monday, April 9th. UBS started coverage on ConocoPhillips in a research report on Wednesday, March 7th. They set a “buy” rating and a $60.00 price objective for the company. Barclays set a $71.00 price objective on ConocoPhillips and gave the stock a “buy” rating in a research report on Sunday, March 4th. Finally, Argus cut their price objective on ConocoPhillips from $65.00 to $54.54 and set a “buy” rating for the company in a research report on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. ConocoPhillips currently has a consensus rating of “Buy” and an average target price of $60.42.
Shares of COP opened at $64.90 on Friday. ConocoPhillips has a 52-week low of $42.26 and a 52-week high of $65.00. The firm has a market capitalization of $74,280.31, a price-to-earnings ratio of 108.17, a P/E/G ratio of 1.86 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 issued its earnings results on Thursday, February 1st. The energy producer reported $0.45 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.45. ConocoPhillips had a positive return on equity of 2.81% and a negative net margin of 2.04%. The business had revenue of $8.74 billion during the quarter, compared to the consensus estimate of $7.70 billion. During the same period last year, the company earned ($0.26) EPS. sell-side analysts forecast that ConocoPhillips will post 2.92 EPS for the current fiscal year.
ConocoPhillips declared that its board has authorized a stock repurchase plan on Thursday, February 1st that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the energy producer to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
In other ConocoPhillips news, SVP Andrew D. Lundquist sold 25,000 shares of ConocoPhillips stock in a transaction dated Thursday, March 29th. The stock was sold at an average price of $58.96, for a total value of $1,474,000.00. Following the completion of the transaction, the senior vice president now directly owns 27,353 shares of the company’s stock, valued at approximately $1,612,732.88. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.88% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fisher Asset Management LLC grew its position in ConocoPhillips by 14.0% in the 4th quarter. Fisher Asset Management LLC now owns 6,918 shares of the energy producer’s stock valued at $380,000 after acquiring an additional 851 shares in the last quarter. Norris Perne & French LLP MI grew its position in ConocoPhillips by 18.9% in the 4th quarter. Norris Perne & French LLP MI now owns 5,666 shares of the energy producer’s stock valued at $311,000 after acquiring an additional 900 shares in the last quarter. Naples Global Advisors LLC grew its position in ConocoPhillips by 11.2% in the 4th quarter. Naples Global Advisors LLC now owns 9,034 shares of the energy producer’s stock valued at $496,000 after acquiring an additional 909 shares in the last quarter. Broderick Brian C grew its position in ConocoPhillips by 13.9% in the 4th quarter. Broderick Brian C now owns 7,555 shares of the energy producer’s stock valued at $415,000 after acquiring an additional 920 shares in the last quarter. Finally, AT Bancorp grew its position in ConocoPhillips by 9.2% in the 4th quarter. AT Bancorp now owns 10,969 shares of the energy producer’s stock valued at $602,000 after acquiring an additional 928 shares in the last quarter. 71.15% of the stock is owned by institutional investors.
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ConocoPhillips Company Profile
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. Its portfolio includes North American tight oil and oil sands assets in Canada; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; and an inventory of conventional and unconventional exploration prospects.
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