ConocoPhillips (NYSE:COP) had its target price cut by equities researchers at Morgan Stanley from $84.00 to $81.00 in a research report issued on Friday, BenzingaRatingsTable reports. The brokerage currently has an “overweight” rating on the energy producer’s stock. Morgan Stanley’s price target would indicate a potential upside of 31.15% from the company’s current price.
Several other research firms have also weighed in on COP. Credit Suisse Group reissued an “outperform” rating and set a GBX 2,012 ($26.29) price objective on shares of Aston Martin Lagonda Global in a research note on Wednesday, May 1st. JPMorgan Chase & Co. initiated coverage on Pinduoduo in a report on Tuesday, July 9th. They issued an “underweight” rating and a $20.48 target price for the company. Zacks Investment Research upgraded General Moly from a “sell” rating to a “hold” rating in a report on Thursday. Mizuho initiated coverage on Avrobio in a report on Wednesday, June 26th. They issued a “buy” rating and a $28.00 target price for the company. Finally, ValuEngine upgraded Zogenix from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 27th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $77.07.
COP opened at $61.76 on Friday. The company has a market cap of $69.46 billion, a price-to-earnings ratio of 13.63, a PEG ratio of 1.62 and a beta of 1.00. The company has a current ratio of 1.86, a quick ratio of 1.72 and a debt-to-equity ratio of 0.45. The stock’s fifty day moving average is $59.91. ConocoPhillips has a fifty-two week low of $56.75 and a fifty-two week high of $80.24.
ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Tuesday, April 30th. The energy producer reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.08. The business had revenue of $10.06 billion during the quarter, compared to analyst estimates of $9.16 billion. ConocoPhillips had a return on equity of 16.65% and a net margin of 18.08%. During the same period last year, the company posted $0.96 EPS. On average, equities research analysts expect that ConocoPhillips will post 3.99 EPS for the current fiscal year.
Several large investors have recently made changes to their positions in COP. Lenox Wealth Advisors LLC purchased a new stake in shares of ConocoPhillips during the first quarter worth $27,000. Clarfeld Financial Advisors LLC purchased a new stake in shares of ConocoPhillips during the fourth quarter worth $32,000. Destination Wealth Management raised its holdings in shares of ConocoPhillips by 592.6% during the first quarter. Destination Wealth Management now owns 561 shares of the energy producer’s stock worth $37,000 after acquiring an additional 480 shares in the last quarter. Truvestments Capital LLC purchased a new stake in shares of ConocoPhillips during the first quarter worth $42,000. Finally, Glassman Wealth Services raised its holdings in shares of ConocoPhillips by 779.2% during the first quarter. Glassman Wealth Services now owns 633 shares of the energy producer’s stock worth $42,000 after acquiring an additional 561 shares in the last quarter. Institutional investors and hedge funds own 72.09% of the company’s stock.
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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