ConocoPhillips (NYSE:COP) Rating Increased to Strong-Buy at Argus

ConocoPhillips (NYSE:COPGet Free Report) was upgraded by analysts at Argus to a “strong-buy” rating in a note issued to investors on Friday, Zacks.com reports.

A number of other brokerages have also issued reports on COP. Wells Fargo & Company increased their price objective on shares of ConocoPhillips from $149.00 to $151.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. Scotiabank increased their price objective on shares of ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a report on Thursday, April 11th. UBS Group raised their target price on shares of ConocoPhillips from $138.00 to $143.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Raymond James reissued a “strong-buy” rating and issued a $159.00 target price (up from $155.00) on shares of ConocoPhillips in a report on Thursday, May 30th. Finally, StockNews.com lowered shares of ConocoPhillips from a “buy” rating to a “hold” rating in a report on Tuesday, June 4th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, ConocoPhillips has an average rating of “Moderate Buy” and an average target price of $144.35.

Read Our Latest Report on COP

ConocoPhillips Trading Up 1.2 %

ConocoPhillips stock opened at $113.32 on Friday. The firm has a 50 day moving average of $123.60 and a 200 day moving average of $117.74. The firm has a market capitalization of $132.53 billion, a price-to-earnings ratio of 12.83, a P/E/G ratio of 2.51 and a beta of 1.23. ConocoPhillips has a 12-month low of $99.35 and a 12-month high of $135.18. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COPGet Free Report) last released its earnings results on Thursday, May 2nd. The energy producer reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.04. The company had revenue of $14.48 billion during the quarter, compared to analyst estimates of $14.72 billion. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. As a group, research analysts predict that ConocoPhillips will post 8.93 earnings per share for the current year.

Insider Activity at ConocoPhillips

In related news, CEO Ryan Michael Lance sold 607,000 shares of ConocoPhillips stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $125.91, for a total value of $76,427,370.00. Following the completion of the sale, the chief executive officer now directly owns 6,780 shares in the company, valued at $853,669.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Ryan Michael Lance sold 607,000 shares of ConocoPhillips stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $125.91, for a total value of $76,427,370.00. Following the completion of the sale, the chief executive officer now directly owns 6,780 shares in the company, valued at $853,669.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Nicholas G. Olds sold 12,150 shares of ConocoPhillips stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $126.44, for a total value of $1,536,246.00. Following the completion of the transaction, the executive vice president now owns 14,522 shares in the company, valued at approximately $1,836,161.68. The disclosure for this sale can be found here. Insiders sold 664,350 shares of company stock worth $83,537,680 over the last three months. 0.34% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ConocoPhillips

Several institutional investors and hedge funds have recently added to or reduced their stakes in COP. Alliance Wealth Advisors LLC UT increased its position in shares of ConocoPhillips by 9.0% during the third quarter. Alliance Wealth Advisors LLC UT now owns 2,602 shares of the energy producer’s stock worth $312,000 after purchasing an additional 214 shares in the last quarter. Waters Parkerson & CO. LLC lifted its stake in ConocoPhillips by 30.2% during the third quarter. Waters Parkerson & CO. LLC now owns 3,537 shares of the energy producer’s stock worth $424,000 after purchasing an additional 821 shares during the last quarter. Nemes Rush Group LLC lifted its stake in ConocoPhillips by 163.9% during the third quarter. Nemes Rush Group LLC now owns 380 shares of the energy producer’s stock worth $46,000 after purchasing an additional 236 shares during the last quarter. Nicolet Bankshares Inc. purchased a new stake in ConocoPhillips during the third quarter worth approximately $222,000. Finally, Montag A & Associates Inc. increased its position in ConocoPhillips by 134.2% during the third quarter. Montag A & Associates Inc. now owns 10,879 shares of the energy producer’s stock worth $1,310,000 after buying an additional 6,233 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

About ConocoPhillips

(Get Free Report)

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.

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Analyst Recommendations for ConocoPhillips (NYSE:COP)

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