Rating Action: ConocoPhillips (COP) Is a Stock Goldman Sachs Is Confident In; Firm Upgrades It

November 28, 2016 - By Ruchi Gupta

Rating Action:  ConocoPhillips (COP) Is a Stock Goldman Sachs Is Confident In; Firm Upgrades It

ConocoPhillips (COP) Upgrade

Goldman Sachs upgraded the shares of ConocoPhillips (COP) from a Neutral rating to Buy rating in a a report revealed to investors and clients on Monday, 28 November.

ConocoPhillips (NYSE:COP) Ratings Coverage

Out of 6 analysts covering ConocoPhillips (COP), 4 rate it a “Buy”, 1 “Sell”, while 1 “Hold”. This means 67% are positive. ConocoPhillips has been the topic of 6 analyst reports since September 7, 2016 according to StockzIntelligence Inc. The stock has “Underperform” rating given by CLSA on Tuesday, November 15. The rating was upgraded by Edward Jones on Monday, November 7 to “Buy”. RBC Capital Markets maintained it with “Outperform” rating and $53.0 target price in Monday, October 31 report. The stock has “Overweight” rating given by Piper Jaffray on Friday, October 28. JP Morgan upgraded the stock to “Overweight” rating in Monday, September 12 report. The firm earned “Hold” rating on Wednesday, September 7 by Jefferies.

About 3.95 million shares traded hands. ConocoPhillips (COP) has declined 1.12% since April 25, 2016 and is downtrending. It has underperformed by 7.14% the S&P500.

Analysts await ConocoPhillips (NYSE:COP) to report earnings on February, 2. They expect $-0.30 EPS, up 66.67% or $0.60 from last year’s $-0.9 per share. After $-0.66 actual EPS reported by ConocoPhillips for the previous quarter, Wall Street now forecasts -54.55% EPS growth.

Insitutional Activity: The institutional sentiment increased to 0.8 in 2016 Q2. Its up 0.02, from 0.78 in 2016Q1. The ratio improved, as 69 funds sold all ConocoPhillips shares owned while 510 reduced positions. 81 funds bought stakes while 371 increased positions. They now own 776.95 million shares or 3.49% more from 750.77 million shares in 2016Q1.

Mai Cap has 0.04% invested in the company for 13,192 shares. Violich Capital Inc has 0.91% invested in the company for 66,050 shares. Regent Management Ltd Com has invested 0.52% of its portfolio in ConocoPhillips (NYSE:COP). The Ohio-based Victory Incorporated has invested 0% in ConocoPhillips (NYSE:COP). Regal Investment Llc accumulated 0.73% or 60,596 shares. Boys Arnold And Inc holds 0.22% or 28,784 shares in its portfolio. Kings Point Cap Mngmt last reported 0.08% of its portfolio in the stock. Tweedy Browne Lc holds 2.58M shares or 3.16% of its portfolio. Gamble Jones Invest Counsel reported 32,070 shares or 0.15% of all its holdings. Moreover, Bartlett & Llc has 0.03% invested in ConocoPhillips (NYSE:COP) for 13,679 shares. Arrow Fincl holds 53,731 shares or 0.61% of its portfolio. Old Comml Bank In has 21,868 shares for 0.05% of their US portfolio. Lafleur & Godfrey Limited Liability accumulated 3.58% or 277,027 shares. Goldman Sachs Grp Incorporated accumulated 0.08% or 5.32 million shares. First Bank & Trust Of Mount Dora Investment Services holds 1.99% or 79,661 shares in its portfolio.

Insider Transactions: Since July 29, 2016, the stock had 3 buys, and 0 insider sales for $957,430 net activity. DeSanctis Ellen had bought 5,000 shares worth $202,500. Another trade for 6,500 shares valued at $258,180 was made by Murti Arjun N on Friday, July 29. $496,750 worth of ConocoPhillips (NYSE:COP) was bought by COPELAND JAMES E JR.

ConocoPhillips is an independent exploration and production company. The company has a market cap of $56.64 billion. The Firm explores for, produces, transports and markets crude oil, bitumen, natural gas and liquefied natural gas (LNG). It currently has negative earnings. The Firm operates through six operating divisions, which are primarily defined by geographic region: Alaska; Lower 48; Canada; Europe and North Africa; Asia Pacific and Middle East, and Other International.

According to Zacks Investment Research, “ConocoPhillips is a major global exploration and production (E&P) company with operations all over the world. As year-end 2014, the company had estimated proved reserves of 8.9 billion oil-equivalent barrels (BOE). Production from continuing operations, excluding Libya, averaged 1,532 thousand barrels of oil equivalent per day (MBOED) in 2014. In May 2012, ConocoPhillips completed the spin-off of its refining/sales business into a separate, independent and publicly traded company, Phillips 66 (Ticker: PSX).”

COP Company Profile

ConocoPhillips (ConocoPhillips), incorporated on November 16, 2001, is an independent exploration and production company. The Firm explores for, produces, transports and markets crude oil, bitumen, natural gas and liquefied natural gas (LNG) and natural gas liquids on a worldwide basis. The Firm operates through six operating divisions, which are primarily defined by geographic region: Alaska; Lower 48; Canada; Europe and North Africa; Asia Pacific and Middle East, and Other International. The Company’s continuing activities are producing in the United States, Norway, the United Kingdom, Canada, Australia, Timor-Leste, Indonesia, China, Malaysia and Qatar. The Company’s portfolio includes North American unconventional assets and oil sands assets in Canada; assets in North America, Europe, Asia and Australia; several international developments, and an inventory of global conventional and unconventional exploration prospects.

More notable recent ConocoPhillips (NYSE:COP) news were published by: Seekingalpha.com which released: “ConocoPhillips Can Drop To $40 (And Even Lower) If This Happens” on November 28, 2016, also Bloomberg.com with their article: “ConocoPhillips Was Right to Split” published on November 14, 2016, Cnbc.com published: “Donald Trump recognizes the energy renaissance, ConocoPhillips CEO says” on November 10, 2016. More interesting news about ConocoPhillips (NYSE:COP) were released by: Investorplace.com and their article: “3 Stocks to Watch on Monday: ConocoPhillips (COP), Time Inc (TIME) and Domino …” published on November 28, 2016 as well as Investorplace.com‘s news article titled: “Embrace the Breakout in ConocoPhillips (COP) Stock” with publication date: November 22, 2016.

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