Rating Buzzer: Time To Buy ConocoPhillips (NYSE:COP), Goldman Upgrades It

November 28, 2016 - By Nellie Frank

Rating Buzzer:  Time To Buy ConocoPhillips (NYSE:COP), Goldman Upgrades It

ConocoPhillips (NYSE:COP) Upgrade

New York-listed ConocoPhillips (NYSE:COP), was raised by equity research analysts at Goldman. The firm raised its rating on the $56.70B market cap company to a Buy from a previous Neutral.

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 7.10% above today’s ($46.31) stock price. ConocoPhillips has been the topic of 45 analyst reports since August 4, 2015 according to StockzIntelligence Inc. The stock has “Overweight” rating given by Barclays Capital on Tuesday, January 12. Jefferies upgraded the shares of COP in a report on Wednesday, September 7 to “Hold” rating. The stock has “Underweight” rating given by JP Morgan on Tuesday, December 15. Citigroup maintained it with “Buy” rating and $65 target price in Friday, April 29 report. The stock of ConocoPhillips (NYSE:COP) has “Overweight” rating given on Monday, October 12 by Barclays Capital. The stock has “Buy” rating given by Argus Research on Wednesday, December 9. The company was initiated on Friday, August 7 by Bernstein. Jefferies downgraded the stock to “Underperform” rating in Thursday, April 21 report. On Thursday, February 4 the stock rating was downgraded by Societe Generale to “Hold”. Oppenheimer downgraded the stock to “Perform” rating in Tuesday, August 4 report.

About 3.10 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.

Sol reported 18,151 shares or 0.26% of all its holdings. The Texas-based Sta Wealth Ltd Com has invested 0.45% in ConocoPhillips (NYSE:COP). Lynch Associates In last reported 0.69% of its portfolio in the stock. Wealthfront last reported 15,317 shares in the company. First Bank Of Omaha holds 0.04% of its portfolio in ConocoPhillips (NYSE:COP) for 12,952 shares. First City Capital Mngmt, a Georgia-based fund reported 8,452 shares. Old Point Trust & Service N A reported 82,499 shares or 2.08% of all its holdings. Wallington Asset Mgmt Limited Company has 68,024 shares for 0.93% of their US portfolio. Samsung Asset Mngmt (New York) Incorporated has invested 0.54% of its portfolio in ConocoPhillips (NYSE:COP). Wfg L P has 16,423 shares for 0.19% of their US portfolio. Carret Asset Management Ltd last reported 0.67% of its portfolio in the stock. Moreover, Baldwin Invest Limited Co has 0.13% invested in ConocoPhillips (NYSE:COP) for 6,950 shares. Canal Ins last reported 1.79% of its portfolio in the stock. Hartford Investment Co accumulated 294,607 shares or 0.27% of the stock. Smith Asset Management Grp Ltd Partnership last reported 2,330 shares in the company.

Insider Transactions: Since July 29, 2016, the stock had 3 insider buys, and 0 selling transactions for $957,430 net activity. On Thursday, August 11 the insider DeSanctis Ellen bought $202,500. COPELAND JAMES E JR bought $496,750 worth of stock. $258,180 worth of ConocoPhillips (NYSE:COP) shares were bought by Murti Arjun N.

ConocoPhillips is an independent exploration and production company. The company has a market cap of $56.70 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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