In a report issued on October 9, Phillip Jungwirth from BMO Capital reiterated a Buy rating on Conocophillips (NYSE: COP), with a price target of $85. The company’s shares opened today at $74.16.
According to TipRanks.com, Jungwirth is a 4-star analyst with an average return of 8.2% and a 60.4% success rate. Jungwirth covers the Basic Materials sector, focusing on stocks such as Continental Resources, Anadarko Petroleum, and Devon Energy Corp.
Conocophillips has an analyst consensus of Moderate Buy, with a price target consensus of $83.88, representing a 13.1% upside. In a report issued on September 26, Morgan Stanley also maintained a Buy rating on the stock with a $85 price target.
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Based on Conocophillips’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $8.52 billion and net profit of $1.64 billion. In comparison, last year the company earned revenue of $6.67 billion and had a net profit of $420 million.
Based on the recent corporate insider activity of 28 insiders, corporate insider sentiment is negative on the stock. Most recently, in August 2018, Janet Langford Kelly, the SVP & GC of COP sold 50,000 shares for a total of $3,618,500.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
ConocoPhillips engages in the exploration, production, transportation and marketing of crude oil, bitumen, natural gas, natural gas liquids and liquefied natural gas on a worldwide basis. It operates through the following geographical segments: Alaska; Lower 48; Canada; Europe and North Africa; Asia Pacific and Middle East; Other International; and Corporate and Other. The Alaska segment primarily explores for, produces, transports and markets crude oil, natural gas and natural gas liquids. The Lower 48 segment is consist of operations in the U.S. Lower 48 states and the Gulf od Mexico. The Canada segment is comprised of oil sands development in the Athabasca Region of northeastern Alberta and a liquids-rich unconventional play in western Canada. The Europe and North Africa segment is consist of operations and exploration activities in Norway, the United Kingdom and Libya. The Asia Pacific and Middle East segment has explorations and product operations in China, Indonesia, Malaysia and Australia; production operations in Qatar and Timor-Leste; and exploration activities in Brunei. The Other International segment handles exploration activities in Columbia and Chile. The Corporate and Other segment is comprised of interest expense, premiums incurred on the early retirement of debt, corporate overhead, certain technology activities, as well as licensing revenues received. The company was founded in 1875 and is headquartered in Houston, TX.
