ConocoPhillips (NYSE:COP) – Equities researchers at Piper Jaffray Companies raised their Q2 2019 earnings per share (EPS) estimates for ConocoPhillips in a research report issued to clients and investors on Monday, April 22nd. Piper Jaffray Companies analyst B. Fernandez now anticipates that the energy producer will post earnings of $1.20 per share for the quarter, up from their prior forecast of $0.78. Piper Jaffray Companies currently has a “Overweight” rating and a $75.00 target price on the stock. Piper Jaffray Companies also issued estimates for ConocoPhillips’ Q3 2019 earnings at $1.28 EPS, Q4 2019 earnings at $1.27 EPS, FY2019 earnings at $4.66 EPS, Q1 2020 earnings at $1.24 EPS, Q2 2020 earnings at $1.17 EPS, Q3 2020 earnings at $1.17 EPS, Q4 2020 earnings at $1.18 EPS and FY2020 earnings at $4.76 EPS.
A number of other equities analysts have also recently issued reports on COP. Zacks Investment Research cut shares of ConocoPhillips from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 3rd. Bank of America cut shares of ConocoPhillips from a “buy” rating to a “neutral” rating and set a $75.00 price target on the stock. in a research note on Friday, January 4th. Barclays reiterated a “buy” rating and issued a $79.00 price target on shares of ConocoPhillips in a research note on Friday, January 11th. Morgan Stanley set a $77.00 price target on shares of ConocoPhillips and gave the stock a “buy” rating in a research note on Tuesday, January 29th. Finally, Goldman Sachs Group upgraded shares of ConocoPhillips from a “neutral” rating to a “buy” rating and upped their price target for the stock from $76.00 to $82.00 in a research note on Sunday, February 3rd. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $79.00.
ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, January 31st. The energy producer reported $1.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.08. The firm had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.60 billion. ConocoPhillips had a net margin of 16.16% and a return on equity of 16.91%. During the same period in the prior year, the firm earned $0.45 EPS.
Institutional investors and hedge funds have recently bought and sold shares of the business. Investec Asset Management LTD lifted its stake in shares of ConocoPhillips by 10.0% in the 1st quarter. Investec Asset Management LTD now owns 465,189 shares of the energy producer’s stock worth $31,047,000 after purchasing an additional 42,174 shares during the period. First Quadrant L P CA increased its holdings in ConocoPhillips by 71.6% in the 1st quarter. First Quadrant L P CA now owns 32,703 shares of the energy producer’s stock worth $2,183,000 after acquiring an additional 13,645 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in ConocoPhillips in the 1st quarter worth approximately $15,419,000. Lindbrook Capital LLC increased its holdings in ConocoPhillips by 9.1% in the 1st quarter. Lindbrook Capital LLC now owns 4,277 shares of the energy producer’s stock worth $285,000 after acquiring an additional 357 shares in the last quarter. Finally, Boston Advisors LLC increased its holdings in ConocoPhillips by 7.7% in the 1st quarter. Boston Advisors LLC now owns 319,844 shares of the energy producer’s stock worth $21,346,000 after acquiring an additional 22,966 shares in the last quarter. Institutional investors and hedge funds own 73.59% 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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