ValuEngine upgraded shares of ConocoPhillips (NYSE:COP) from a hold rating to a buy rating in a report published on Friday morning.

Several other research firms have also recently weighed in on COP. Royal Bank of Canada set a $70.00 price objective on ConocoPhillips and gave the stock a buy rating in a research report on Friday. Piper Jaffray reiterated a buy rating and set a $63.00 price objective on shares of ConocoPhillips in a research report on Wednesday, January 24th. Scotiabank reiterated a buy rating and set a $64.00 price objective on shares of ConocoPhillips in a research report on Monday, April 9th. Morgan Stanley increased their price objective on ConocoPhillips from $48.00 to $65.00 and gave the stock an equal weight rating in a research report on Wednesday, January 24th. Finally, Macquarie began coverage on ConocoPhillips in a research report on Wednesday, January 17th. They set an outperform rating on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $60.42.

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Shares of ConocoPhillips stock opened at $65.73 on Friday. ConocoPhillips has a 1 year low of $42.26 and a 1 year high of $65.99. The firm has a market cap of $76,230.12, a price-to-earnings ratio of 109.55, a price-to-earnings-growth ratio of 1.91 and a beta of 1.22. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.76 and a quick ratio of 1.64.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, February 1st. The energy producer reported $0.45 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.45. ConocoPhillips had a positive return on equity of 2.81% and a negative net margin of 2.04%. The business had revenue of $8.74 billion during the quarter, compared to the consensus estimate of $7.70 billion. During the same quarter last year, the firm posted ($0.26) EPS. sell-side analysts forecast that ConocoPhillips will post 2.92 EPS for the current fiscal year.

ConocoPhillips declared that its Board of Directors has approved a share buyback program on Thursday, February 1st that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the energy producer to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

In related news, SVP Andrew D. Lundquist sold 25,000 shares of the firm’s stock in a transaction on Thursday, March 29th. The stock was sold at an average price of $58.96, for a total value of $1,474,000.00. Following the transaction, the senior vice president now owns 27,353 shares in the company, valued at $1,612,732.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.88% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Calamos Advisors LLC boosted its stake in ConocoPhillips by 0.6% in the third quarter. Calamos Advisors LLC now owns 176,676 shares of the energy producer’s stock valued at $8,843,000 after buying an additional 1,013 shares in the last quarter. Segment Wealth Management LLC acquired a new stake in ConocoPhillips in the third quarter valued at about $3,196,000. Honeywell International Inc. boosted its stake in ConocoPhillips by 12.9% in the third quarter. Honeywell International Inc. now owns 617,400 shares of the energy producer’s stock valued at $30,901,000 after buying an additional 70,400 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new stake in ConocoPhillips in the third quarter valued at about $4,507,000. Finally, Intact Investment Management Inc. boosted its stake in ConocoPhillips by 94.3% in the third quarter. Intact Investment Management Inc. now owns 10,300 shares of the energy producer’s stock valued at $515,000 after buying an additional 5,000 shares in the last quarter. Institutional investors own 71.14% of the company’s stock.

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About ConocoPhillips

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. Its portfolio includes North American tight oil and oil sands assets in Canada; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; and an inventory of conventional and unconventional exploration prospects.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for ConocoPhillips (NYSE:COP)

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