ConocoPhillips (NYSE:COP) – Equities research analysts at Jefferies Group lifted their Q1 2018 earnings per share (EPS) estimates for shares of ConocoPhillips in a report issued on Thursday, April 19th. Jefferies Group analyst J. Gammel now anticipates that the energy producer will post earnings of $0.78 per share for the quarter, up from their previous estimate of $0.60. Jefferies Group has a “Hold” rating and a $68.00 price target on the stock.
A number of other equities research analysts also recently issued reports on COP. Zacks Investment Research raised shares of ConocoPhillips from a “hold” rating to a “strong-buy” rating and set a $66.00 price target on the stock in a research note on Wednesday, January 10th. Macquarie started coverage on shares of ConocoPhillips in a report on Wednesday, January 17th. They issued an “outperform” rating for the company. Cowen set a $70.00 price objective on shares of ConocoPhillips and gave the company a “buy” rating in a report on Thursday, January 18th. Morgan Stanley lifted their price objective on shares of ConocoPhillips from $48.00 to $65.00 and gave the company an “equal weight” rating in a report on Wednesday, January 24th. Finally, Piper Jaffray restated a “buy” rating and issued a $63.00 price objective on shares of ConocoPhillips in a report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the company’s stock. ConocoPhillips presently has a consensus rating of “Buy” and a consensus price target of $61.92.
ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, February 1st. The energy producer reported $0.45 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.45. The business had revenue of $8.74 billion for the quarter, compared to the consensus estimate of $7.70 billion. ConocoPhillips had a negative net margin of 2.04% and a positive return on equity of 2.81%. During the same period in the previous year, the firm earned ($0.26) EPS.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Harel Insurance Investments & Financial Services Ltd. grew its holdings in ConocoPhillips by 468.8% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,820 shares of the energy producer’s stock worth $100,000 after acquiring an additional 1,500 shares in the last quarter. Rocky Mountain Advisers LLC boosted its holdings in shares of ConocoPhillips by 140.2% in the 3rd quarter. Rocky Mountain Advisers LLC now owns 2,392 shares of the energy producer’s stock valued at $120,000 after buying an additional 1,396 shares in the last quarter. Truewealth LLC acquired a new position in shares of ConocoPhillips in the 4th quarter valued at $138,000. First Personal Financial Services boosted its holdings 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 buying an additional 1,399 shares in the last quarter. 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.
In other ConocoPhillips news, SVP Andrew D. Lundquist sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, March 29th. The shares were sold at an average price of $58.96, for a total transaction of $1,474,000.00. Following the completion of the transaction, the senior vice president now owns 27,353 shares in the company, valued at approximately $1,612,732.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.88% of the company’s stock.
ConocoPhillips declared that its Board of Directors has initiated a stock repurchase plan on Thursday, February 1st that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the energy producer to buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.
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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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