Trading Report: Today: ConocoPhillips (COP) Rating Increased to Buy at Goldman Sachs Group Inc.

Today: ConocoPhillips (COP) Rating Increased to Buy at Goldman Sachs Group Inc.

ConocoPhillips (NYSE:COP) was upgraded by analysts at Goldman Sachs Group Inc. from a “neutral” rating to a “buy” rating in a report issued on Monday. The firm currently has a $54.00 target price on the stock, up from their previous target price of $47.00. Goldman Sachs Group Inc.’s price objective indicates a potential upside of 18.03% from the stock’s current price.

Several other brokerages have also recently issued reports on COP. Jefferies Group lifted their target price on ConocoPhillips to $46.00 and gave the company a “hold” rating in a research report on Monday, November 14th. Vetr raised ConocoPhillips from a “buy” rating to a “strong-buy” rating and set a $50.61 target price on the stock in a research report on Tuesday, November 8th. CLSA cut ConocoPhillips from an “outperform” rating to an “underperform” rating in a research report on Tuesday, November 15th. RBC Capital Markets reaffirmed an “outperform” rating and set a $53.00 target price (up previously from $52.00) on shares of ConocoPhillips in a research report on Monday, October 31st. Finally, Credit Suisse Group AG reaffirmed a “neutral” rating on shares of ConocoPhillips in a research report on Tuesday, September 6th. Five equities research analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $51.67.

Shares of ConocoPhillips (NYSE:COP) opened at 45.75 on Monday. The company has a 50-day moving average price of $43.61 and a 200-day moving average price of $42.80. ConocoPhillips has a 1-year low of $31.05 and a 1-year high of $54.75. The company’s market cap is $56.69 billion.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, October 27th. The company reported ($0.66) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.69) by $0.03. ConocoPhillips had a negative return on equity of 10.68% and a negative net margin of 29.45%. During the same quarter in the previous year, the business earned ($0.38) EPS. Equities research analysts expect that ConocoPhillips will post ($2.83) earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Monday, October 17th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date is Thursday, October 13th. ConocoPhillips’s payout ratio is currently -17.67%.

Several institutional investors have recently bought and sold shares of COP. Vanguard Group Inc. boosted its stake in shares of ConocoPhillips by 2.4% in the second quarter. Vanguard Group Inc. now owns 81,195,111 shares of the company’s stock valued at $3,540,106,000 after buying an additional 1,937,880 shares in the last quarter. FMR LLC boosted its stake in shares of ConocoPhillips by 61.3% in the second quarter. FMR LLC now owns 41,549,843 shares of the company’s stock valued at $1,811,573,000 after buying an additional 15,793,307 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in shares of ConocoPhillips by 3.7% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 33,707,193 shares of the company’s stock valued at $1,465,252,000 after buying an additional 1,196,214 shares in the last quarter. BlackRock Fund Advisors boosted its stake in shares of ConocoPhillips by 1.1% in the third quarter. BlackRock Fund Advisors now owns 19,445,358 shares of the company’s stock valued at $845,290,000 after buying an additional 216,543 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of ConocoPhillips by 1.4% in the third quarter. Northern Trust Corp now owns 15,540,730 shares of the company’s stock valued at $675,555,000 after buying an additional 209,216 shares in the last quarter. Hedge funds and other institutional investors own 63.51% of the company’s stock.

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