ConocoPhillips (NYSE:COP) Receives New Coverage from Analysts at Robert W. Baird

Robert W. Baird began coverage on shares of ConocoPhillips (NYSE:COP) in a research report sent to investors on Tuesday, BenzingaRatingsTable reports. The firm issued an outperform rating and a $72.00 price target on the energy producer’s stock.

A number of other research firms have also recently weighed in on COP. MKM Partners assumed coverage on ConocoPhillips in a report on Thursday, December 5th. They issued a buy rating and a $72.00 price target on the stock. Atlantic Securities assumed coverage on ConocoPhillips in a report on Friday, December 13th. They issued an overweight rating and a $75.00 price target on the stock. Susquehanna Bancshares assumed coverage on ConocoPhillips in a report on Tuesday. They issued a positive rating and a $80.00 price target on the stock. Piper Jaffray Companies assumed coverage on ConocoPhillips in a report on Tuesday, November 26th. They issued a buy rating and a $74.00 price target on the stock. Finally, Morgan Stanley lowered their price target on ConocoPhillips from $81.00 to $79.00 and set an overweight rating on the stock in a report on Monday, October 14th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $74.00.

NYSE COP traded down $0.23 on Tuesday, hitting $64.91. 1,492,469 shares of the company’s stock were exchanged, compared to its average volume of 5,317,268. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.56 and a quick ratio of 2.40. The firm’s 50-day moving average price is $63.37 and its two-hundred day moving average price is $58.48. ConocoPhillips has a fifty-two week low of $50.13 and a fifty-two week high of $71.01. The firm has a market cap of $71.78 billion, a price-to-earnings ratio of 14.33, a P/E/G ratio of 2.18 and a beta of 1.13.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Tuesday, October 29th. The energy producer reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.04. The business had revenue of $10.09 billion for the quarter, compared to analysts’ expectations of $7.06 billion. ConocoPhillips had a return on equity of 13.54% and a net margin of 21.44%. During the same quarter in the prior year, the firm posted $1.36 EPS. On average, research analysts predict that ConocoPhillips will post 3.64 earnings per share for the current fiscal year.

In related news, President William L. Jr. Bullock sold 25,628 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $63.17, for a total value of $1,618,920.76. Following the sale, the president now owns 32,926 shares of the company’s stock, valued at approximately $2,079,935.42. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.66% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of COP. Nuveen Asset Management LLC lifted its stake in ConocoPhillips by 12,704.0% in the 2nd quarter. Nuveen Asset Management LLC now owns 6,385,725 shares of the energy producer’s stock valued at $389,529,000 after buying an additional 6,335,852 shares in the last quarter. BlackRock Inc. lifted its stake in ConocoPhillips by 4.0% in the 2nd quarter. BlackRock Inc. now owns 79,994,496 shares of the energy producer’s stock valued at $4,879,663,000 after buying an additional 3,103,095 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in ConocoPhillips in the 3rd quarter valued at approximately $82,616,000. Boston Partners lifted its stake in ConocoPhillips by 19.9% in the 3rd quarter. Boston Partners now owns 8,235,338 shares of the energy producer’s stock valued at $469,263,000 after buying an additional 1,364,667 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. lifted its stake in ConocoPhillips by 90.5% in the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 2,447,473 shares of the energy producer’s stock valued at $149,297,000 after buying an additional 1,162,943 shares in the last quarter. 71.63% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Company Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the tight oil reservoirs, LNG, oil sands, and other production operations. Its portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.

Read More: Why Invest in Dividend Achievers?

Analyst Recommendations for ConocoPhillips (NYSE:COP)

Receive News & Ratings for ConocoPhillips Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ConocoPhillips and related companies with MarketBeat.com's FREE daily email newsletter.