Price Target Update on ConocoPhillips (NYSE:COP)

ConocoPhillips (NYSE:COP) : The consensus price target for ConocoPhillips (NYSE:COP) is $51 for the short term with a standard deviation of $9.2. The most optimist securities analyst among the 11 who monitor the stock believes that the stock can reach $71, however, the pessimist price target for the company is $37.

Other Equity analysts have also commented on the company shares. Equity Analysts at the Citigroup maintains the rating on ConocoPhillips (NYSE:COP). The brokerage firm has issued a Buy rating on the shares. The Analysts at the ratings agency raises the price target from $50 per share to $65 per share. The rating by the firm was issued on April 29, 2016.

ConocoPhillips (NYSE:COP): stock turned positive on Thursday. Though the stock opened at $44.6, the bulls momentum made the stock top out at $45.64 level for the day. The stock recorded a low of $44.2725 and closed the trading day at $45.63, in the green by 3.73%. The total traded volume for the day was 7,714,822. The stock had closed at $43.99 in the previous days trading.

The company shares have dropped -29.30% from its 1 Year high price. On Jun 25, 2015, the shares registered one year high at $63.17 and the one year low was seen on Feb 11, 2016. The 50-Day Moving Average price is $44.12 and the 200 Day Moving Average price is recorded at $41.94. On the companys insider trading activities, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director of Conocophillips, Murti Arjun N, had purchased 7,500 shares in a transaction dated on March 9, 2016. The transaction was executed at $39.24 per share with total amount equaling $294,300.

ConocoPhillips (ConocoPhillips) is an independent exploration and production company. The Company explores for, produces, transports and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG) and natural gas liquids. The Company operates through six operating segments, which are primarily defined by geographic region: Alaska, Lower 48, Canada, Europe, Asia Pacific and Middle East, and Other International. The Companys continuing operations are producing in the United States, Norway, the United Kingdom, Canada, Australia, Timor-Leste, Indonesia, China, Malaysia, Qatar, Libya and Russia. The Company has major ownership interests in two of North Americas oil fields located on Alaskas North Slope: Prudhoe Bay and Kuparuk.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.