RBC Capital analyst Scott Hanold reiterated a Buy rating on Conocophillips (NYSE: COP) on July 9 and set a price target of $82. The company’s shares closed yesterday at $71.45, close to its 52-week high of $72.
According to TipRanks.com, Hanold is a 4-star analyst with an average return of 4.2% and a 49.3% success rate. Hanold covers the Basic Materials sector, focusing on stocks such as Centennial Resource Development Inc, Contango Oil & Gas Company, and Continental Resources.
Conocophillips has an analyst consensus of Moderate Buy, with a price target consensus of $76.40, a 6.9% upside from current levels. In a report released yesterday, Morgan Stanley also initiated coverage with a Buy rating on the stock with a $82 price target.
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Based on Conocophillips’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $8.76 billion and net profit of $888 million. In comparison, last year the company earned revenue of $6.73 billion and had a GAAP net loss of $3.44 billion.
Based on the recent corporate insider activity of 25 insiders, corporate insider sentiment is negative on the stock. Most recently, in May 2018, Janet Langford Kelly, the SVP & GC of COP sold 49,496 shares for a total of $3,514,216.
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 company was founded on August 30, 2002 and is headquartered in Houston, TX. 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.
