ConocoPhillips (NYSE:COP) Rating Reaffirmed
In an interesting research report revealed on Tuesday, 15 December, The “Underweight” rating of ConocoPhillips (NYSE:COP) shares was reaffirmed by Analysts at JP Morgan, who now has a $45.00 target price per share on the stock. JP Morgan’s target price per share may mean a possible downside of -11.00% from the current stock price of the company.
From a total of 21 analysts covering ConocoPhillips (NYSE:COP) stock, 14 rate it a ”Buy”, 1 a “Sell”, and 10 a ”Hold”. This means that 56% of the ratings are positive. The highest target price is $84 while the lowest target price is $47. The mean of all analyst targets is $61.85 with a 14.58% above today’s ($50.68) stock price. ConocoPhillips was the topic of 15 analyst reports since August 4, 2015 according to the firm StockzIntelligence Inc. Argus Research maintained shares on December 9 with “Buy” rating. Barclays Capital maintained COP stock in a recent report from October 12 with “Overweight” rating. Finally, Bernstein initiated the stock with “Outperform” rating in a report issued on an August 7.
Approximately 7.76 million shares of stock traded hands. ConocoPhillips (NYSE:COP) has declined 24.27% since May 12, 2015 and is downtrending. It has underperformed by 20.59% the S&P500.
The overall sentiment of institutions has decreased to 0.76 in Q2 2015. Its down 0.15, from 0.91 in 2015Q2. The ratio dived, as 125 institutions have sold all the shares of ConocoPhillips that they owned while 603 funds have taken shares off the table. 78 funds have purchased shares for the first time while 472 added to their positions. These institutions now hold 795.13 million shares or 1.64% more than the 782.28 million shares they owned in 2015Q2.
The Fund Astenbeck Capital Management Llc currently is holding shares equating to 9.07% of its total portfolio in ConocoPhillips representing a total of 218,936 shares. Another fund,Csu Producer Resources Inc., is holding a total of 15,000 shares equating to 6.29% of their holdings. Additionally, Foundation Resource Management Inc has a 592,744 share stake in ConocoPhillips which represents 6.11% of their total portfolio. The Fund, Pope Asset Management Llc, based out of Tennessee, has also built up a stake in the stock, which represents a total of 5.07% of their total portfolio. Finally Lau Associates Llc, a fund which is based in the state of Delaware reported a total holdings of 74,610 shares.
ConocoPhillips is an independent exploration and production company. The company has a market cap of $61.18 billion. The Firm explores for, produces, transports and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG) and natural gas liquids. It currently has negative earnings. The Firm operates through six operating divisions, which are primarily defined by geographic region: Alaska, Lower 48, Canada, Europe, 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).”