Conocophillips (COP) Gets a Buy Rating from Wells Fargo

Wells Fargo analyst Roger Read maintained a Buy rating on Conocophillips (COP) today. The company’s shares closed last Thursday at $37.64.

According to, Read is a 3-star analyst with an average return of 1.1% and a 47.0% success rate. Read covers the Utilities sector, focusing on stocks such as Occidental Petroleum, Marathon Petroleum, and Delek US Holdings.

Conocophillips has an analyst consensus of Strong Buy, with a price target consensus of $51.82, implying a 35.9% upside from current levels. In a report issued on July 23, SunTrust Robinson also initiated coverage with a Buy rating on the stock with a $51.00 price target.

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Conocophillips’ market cap is currently $42.83B and has a P/E ratio of 12.10. The company has a Price to Book ratio of 1.33.

Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of COP in relation to earlier this year.

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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 & 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.

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