ConocoPhillips (NYSE:COP) Upgraded at BMO Capital Markets


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BMO Capital Markets upgraded shares of ConocoPhillips (NYSE:COP) to a buy rating in a report published on Monday, AnalystRatings.net reports. They currently have $56.00 price objective on the energy producer’s stock.

Several other brokerages have also commented on COP. Truist boosted their price target on ConocoPhillips from $40.00 to $48.00 and gave the company a buy rating in a research note on Thursday, December 31st. Morgan Stanley lifted their price objective on ConocoPhillips from $47.00 to $48.00 and gave the company an overweight rating in a research report on Tuesday, November 17th. Wells Fargo & Company reiterated a buy rating on shares of ConocoPhillips in a research report on Tuesday, September 15th. BidaskClub upgraded ConocoPhillips from a sell rating to a hold rating in a research report on Thursday, January 7th. Finally, Smith Barney Citigroup lifted their price objective on ConocoPhillips from $39.00 to $50.00 in a research report on Wednesday, December 9th. Three investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. ConocoPhillips has an average rating of Buy and an average target price of $53.00.

Shares of COP stock opened at $47.03 on Monday. The stock’s fifty day simple moving average is $42.02 and its 200 day simple moving average is $37.86. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.38 and a quick ratio of 2.16. The firm has a market cap of $50.45 billion, a price-to-earnings ratio of -41.62, a P/E/G ratio of 9.90 and a beta of 1.85. ConocoPhillips has a one year low of $20.84 and a one year high of $65.61.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, October 29th. The energy producer reported ($0.31) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.30) by ($0.01). The company had revenue of $4.38 billion during the quarter, compared to analyst estimates of $4.98 billion. ConocoPhillips had a negative net margin of 5.66% and a negative return on equity of 0.02%. During the same period in the prior year, the firm earned $0.82 EPS. On average, research analysts anticipate that ConocoPhillips will post -0.89 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the stock. Squarepoint Ops LLC acquired a new stake in shares of ConocoPhillips during the third quarter worth $8,962,000. Nuveen Asset Management LLC grew its stake in shares of ConocoPhillips by 0.4% during the second quarter. Nuveen Asset Management LLC now owns 8,820,664 shares of the energy producer’s stock worth $370,644,000 after purchasing an additional 31,946 shares during the period. New Mexico Educational Retirement Board grew its stake in shares of ConocoPhillips by 18.1% during the third quarter. New Mexico Educational Retirement Board now owns 87,156 shares of the energy producer’s stock worth $4,966,000 after purchasing an additional 13,350 shares during the period. Yacktman Asset Management LP grew its stake in shares of ConocoPhillips by 8.6% during the third quarter. Yacktman Asset Management LP now owns 1,513,367 shares of the energy producer’s stock worth $49,699,000 after purchasing an additional 120,438 shares during the period. Finally, Old Port Advisors grew its stake in ConocoPhillips by 18.6% in the fourth quarter. Old Port Advisors now owns 11,746 shares of the energy producer’s stock valued at $465,000 after acquiring an additional 1,838 shares during the period. 72.87% of the stock is owned by institutional investors and hedge funds.

About ConocoPhillips

ConocoPhillips engages in the exploration, production, transportation and marketing of crude oil, bitumen, natural gas, natural gas liquids and liquefied natural gas on a worldwide basis. It operates through the following geographical segments: Alaska; Lower 48; Canada; Europe and North Africa; Asia Pacific and Middle East; Other International; and Corporate & Other.

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Analyst Recommendations for ConocoPhillips (NYSE:COP)

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