ConocoPhillips (COP) is Upgraded by JP Morgan to Overweight

ConocoPhillips (COP) was Upgraded by JP Morgan to ” Overweight”. Earlier the firm had a rating of “Neutral ” on the company shares. JP Morgan advised their investors in a research report released on Sep 12, 2016.

Many Wall Street Analysts have commented on ConocoPhillips. ConocoPhillips was Upgraded by JP Morgan to ” Overweight” on Sep 12, 2016. ConocoPhillips was Upgraded by Jefferies to ” Hold” on Sep 7, 2016. JP Morgan Upgraded ConocoPhillips on Jul 11, 2016 to ” Neutral”, Price Target of the shares are set at $44.

On the company’s financial health, ConocoPhillips reported $-0.79 EPS for the quarter, missing the analyst consensus estimate by $ -0.18 based on the information available during the earnings call on Jul 28, 2016. Analyst had a consensus of $-0.61. The company had revenue of $5575.00 million for the quarter, compared to analysts expectations of $6734.50 million. The company’s revenue was down -35.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.07 EPS.

ConocoPhillips opened for trading at $41.22 and hit $41.5 on the upside on Wednesday, eventually ending the session at $41.48, with a gain of 1.17% or 0.48 points. The heightened volatility saw the trading volume jump to 6,368,782 shares. Company has a market cap of $51,373 M.

In a different news, on Sep 2, 2016, John V Faraci (director) purchased 3,879 shares at $51.02 per share price. According to the SEC, on Aug 15, 2016, Ellen Desanctis (Vice President) purchased 5,000 shares at $40.50 per share price. On Aug 3, 2016, James E Jr Copeland (director) purchased 12,500 shares at $39.74 per share price, according to the Form-4 filing with the securities and exchange commission.

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 Company’s 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 America’s oil fields located on Alaska’s North Slope: Prudhoe Bay and Kuparuk.


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