ConocoPhillips (COP) Upgraded by ValuEngine to Hold

ConocoPhillips (NYSE:COP) was upgraded by equities researchers at ValuEngine from a “sell” rating to a “hold” rating in a research report issued on Wednesday, ValuEngine reports.

A number of other research firms have also recently commented on COP. Piper Jaffray Companies upgraded ConocoPhillips from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $68.00 to $75.00 in a research report on Thursday, March 21st. Morgan Stanley boosted their price objective on ConocoPhillips from $77.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday, March 4th. Zacks Investment Research upgraded ConocoPhillips from a “strong sell” rating to a “hold” rating in a research report on Monday, February 11th. Credit Suisse Group upgraded ConocoPhillips from a “neutral” rating to an “outperform” rating and set a $75.00 price objective for the company in a research report on Tuesday, April 30th. Finally, Goldman Sachs Group upgraded ConocoPhillips from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $76.00 to $82.00 in a research report on Sunday, February 3rd. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $78.60.

Shares of COP stock opened at $59.50 on Wednesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.86 and a quick ratio of 1.72. The company has a market cap of $71.90 billion, a P/E ratio of 13.13, a P/E/G ratio of 1.51 and a beta of 1.06. ConocoPhillips has a twelve month low of $56.75 and a twelve month high of $80.24.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Tuesday, April 30th. The energy producer reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.08. The company had revenue of $10.06 billion during the quarter, compared to analysts’ expectations 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 business earned $0.96 earnings per share. As a group, equities analysts predict that ConocoPhillips will post 4.44 earnings per share for the current year.

Institutional investors have recently bought and sold shares of the company. Neuberger Berman Group LLC boosted its stake in shares of ConocoPhillips by 7.7% in the third quarter. Neuberger Berman Group LLC now owns 289,262 shares of the energy producer’s stock worth $22,388,000 after acquiring an additional 20,758 shares during the last quarter. Vanguard Group Inc boosted its stake in shares of ConocoPhillips by 0.5% in the third quarter. Vanguard Group Inc now owns 88,571,791 shares of the energy producer’s stock worth $6,855,456,000 after acquiring an additional 451,104 shares during the last quarter. Physicians Financial Services Inc. boosted its stake in shares of ConocoPhillips by 20.4% in the fourth quarter. Physicians Financial Services Inc. now owns 3,731 shares of the energy producer’s stock worth $233,000 after acquiring an additional 632 shares during the last quarter. Klingenstein Fields & Co. LLC boosted its stake in shares of ConocoPhillips by 3.9% in the fourth quarter. Klingenstein Fields & Co. LLC now owns 294,089 shares of the energy producer’s stock worth $18,336,000 after acquiring an additional 10,976 shares during the last quarter. Finally, Kanawha Capital Management LLC boosted its stake in shares of ConocoPhillips by 14.0% in the fourth quarter. Kanawha Capital Management LLC now owns 17,861 shares of the energy producer’s stock worth $1,114,000 after acquiring an additional 2,192 shares during the last quarter. Institutional investors and hedge funds own 73.71% of the company’s stock.

About ConocoPhillips

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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Analyst Recommendations for ConocoPhillips (NYSE:COP)

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