Rating Action: ConocoPhillips (NYSE:COP)’s Is Reaching An Inflection Point; Goldman Sachs Upgrades It

November 28, 2016 - By Peter Erickson

Rating Action:  ConocoPhillips (NYSE:COP)'s Is Reaching An Inflection Point; Goldman Sachs Upgrades It

ConocoPhillips (NYSE:COP) Upgrade

Goldman Sachs upped ConocoPhillips (NYSE:COP)‘s stock to a “Buy” rating from “Neutral”. The rating change was issued to clients in a a research note today.

ConocoPhillips (NYSE:COP) Ratings Coverage

Out of 20 analysts covering ConocoPhillips (NYSE:COP), 11 rate it a “Buy”, 1 “Sell”, while 8 “Hold”. This means 55% are positive. $77 is the highest target while $31 is the lowest. The $49.60 average target is 8.37% above today’s ($45.77) stock price. ConocoPhillips has been the topic of 45 analyst reports since August 4, 2015 according to StockzIntelligence Inc. As per Thursday, April 21, the company rating was downgraded by Jefferies. Argus Research maintained it with “Buy” rating and $65 target price in Wednesday, December 9 report. The firm has “Buy” rating given on Friday, April 29 by Citigroup. The stock of ConocoPhillips (NYSE:COP) earned “Peer Perform” rating by Wolfe Research on Thursday, February 11. On Tuesday, December 15 the stock rating was initiated by Credit Agricole with “Outperform”. On Friday, February 5 the stock rating was maintained by UBS with “Neutral”. The firm earned “Hold” rating on Thursday, February 4 by Societe Generale. Piper Jaffray upgraded ConocoPhillips (NYSE:COP) on Friday, October 28 to “Overweight” rating. The firm has “Outperform” rating by RBC Capital Markets given on Monday, October 31. As per Tuesday, October 20, the company rating was maintained by Bank of America.

About 6.87 million shares traded hands. ConocoPhillips (NYSE: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 earnings per share, up 66.67% or $0.60 from last year’s $-0.9 per share. After $-0.66 actual earnings per share 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 increased, 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.

Price T Rowe Assocs Md holds 0.02% or 2.28 million shares in its portfolio. Regal Investment Advsrs Llc has 60,596 shares for 0.73% of their US portfolio. Grantham Mayo Van Otterloo Limited Liability Corporation holds 249,435 shares or 0.04% of its portfolio. Pzena Investment Management Limited Liability Corp has 0.55% invested in the company for 2.02M shares. Hanson & Doremus Investment holds 0.38% of its portfolio in ConocoPhillips (NYSE:COP) for 19,034 shares. Cue Financial Group Inc, a Arizona-based fund reported 4,733 shares. Thrivent Financial For Lutherans accumulated 39,211 shares or 0.01% of the stock. Beck Mack And Oliver Limited Liability Co has invested 0.83% of its portfolio in ConocoPhillips (NYSE:COP). Bancorpsouth owns 6,474 shares or 0.03% of their US portfolio. State Treasurer State Of Michigan last reported 0.15% of its portfolio in the stock. Royal London Asset Mngmt Ltd last reported 413,871 shares in the company. First Bankshares Of Omaha has 0.04% invested in the company for 12,952 shares. State Board Of Administration Of Florida Retirement System owns 1.80M shares or 0.25% of their US portfolio. Private Advisor Gru Limited Liability owns 126,766 shares or 0.22% of their US portfolio. Enterprise Fincl has 0.1% invested in the company for 3,814 shares.

Insider Transactions: Since July 29, 2016, the stock had 3 insider purchases, and 0 sales for $957,430 net activity. On Thursday, August 11 the insider DeSanctis Ellen bought $202,500. 6,500 shares were bought by Murti Arjun N, worth $258,180 on Friday, July 29. The insider COPELAND JAMES E JR bought 12,500 shares worth $496,750.

ConocoPhillips is an independent exploration and production company. The company has a market cap of $56.04 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, Investorplace.com published: “3 Stocks to Watch on Monday: ConocoPhillips (COP), Time Inc (TIME) and Domino …” on November 28, 2016. More interesting news about ConocoPhillips (NYSE:COP) were released by: Cnbc.com and their article: “Donald Trump recognizes the energy renaissance, ConocoPhillips CEO says” published on November 10, 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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