ConocoPhillips (COP) Upgraded to “Buy” by ValuEngine

ValuEngine upgraded shares of ConocoPhillips (NYSE:COP) from a hold rating to a buy rating in a research report released on Friday, April 13th.

A number of other equities analysts also recently issued reports on COP. Zacks Investment Research downgraded ConocoPhillips from a buy rating to a hold rating in a research note on Tuesday, December 19th. Royal Bank of Canada set a $61.00 target price on ConocoPhillips and gave the company a buy rating in a research report on Wednesday, December 20th. Howard Weil downgraded ConocoPhillips from a focus list rating to an outperform rating and set a $58.00 price objective on the stock. in a research report on Friday, December 22nd. Macquarie assumed coverage on ConocoPhillips in a research report on Wednesday, January 17th. They issued an outperform rating on the stock. Finally, Cowen set a $70.00 price objective on ConocoPhillips and gave the company a buy rating in a research report on Thursday, January 18th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $61.92.

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COP opened at $65.79 on Friday. ConocoPhillips has a 52 week low of $42.26 and a 52 week high of $67.30. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.76 and a quick ratio of 1.64. The company has a market capitalization of $77,275.48, a PE ratio of 90.12, a PEG ratio of 2.09 and a beta of 1.23.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, February 1st. The energy producer reported $0.45 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.45. The company had revenue of $8.74 billion during the quarter, compared to analyst estimates of $7.70 billion. ConocoPhillips had a positive return on equity of 2.81% and a negative net margin of 2.04%. During the same quarter last year, the company earned ($0.26) EPS. research analysts expect that ConocoPhillips will post 3.07 earnings per share for the current fiscal year.

ConocoPhillips announced that its Board of Directors has initiated a share 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 buy shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

In related news, SVP Andrew D. Lundquist sold 25,000 shares of the business’s stock in a transaction that occurred on 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 sale, the senior vice president now owns 27,353 shares in the company, valued at $1,612,732.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.88% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of COP. Harel Insurance Investments & Financial Services Ltd. increased its position in shares of ConocoPhillips by 468.8% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,820 shares of the energy producer’s stock worth $100,000 after purchasing an additional 1,500 shares in the last quarter. Rocky Mountain Advisers LLC increased its position in shares of ConocoPhillips by 140.2% during the third quarter. Rocky Mountain Advisers LLC now owns 2,392 shares of the energy producer’s stock worth $120,000 after purchasing an additional 1,396 shares in the last quarter. Truewealth LLC acquired a new position in shares of ConocoPhillips during the fourth quarter worth $138,000. First Personal Financial Services increased its position in shares of ConocoPhillips by 111.9% in the 4th quarter. First Personal Financial Services now owns 2,649 shares of the energy producer’s stock valued at $145,000 after acquiring an additional 1,399 shares during the period. Finally, Delpha Capital Management LLC acquired a new position in shares of ConocoPhillips in the 4th quarter valued at $149,000. Institutional investors own 71.14% of the company’s stock.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for ConocoPhillips (NYSE:COP)

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