In a report released today, Devin McDermott from Morgan Stanley maintained a Buy rating on Conocophillips (COP), with a price target of $79.00. The company’s shares closed last Monday at $56.43.
According to TipRanks.com, McDermott is a 4-star analyst with an average return of 6.3% and a 48.2% success rate. McDermott covers the Basic Materials sector, focusing on stocks such as Cheniere Energy Partners LP, Occidental Petroleum, and Cheniere Energy Inc.
Conocophillips has an analyst consensus of Strong Buy, with a price target consensus of $75.00, representing a 32.9% upside. In a report issued on October 11, Goldman Sachs also reiterated a Buy rating on the stock with a $67.00 price target.
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The company has a one-year high of $74.19 and a one-year low of $50.13. Currently, Conocophillips has an average volume of 6.54M.
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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.
