JP Morgan Upgrades ConocoPhillips to Overweight

Brokerage firm JP Morgan Upgrades its rating on ConocoPhillips(NYSE:COP). The shares have been rated Overweight. Previously, the analysts had a Neutral rating on the shares. The rating by JP Morgan was issued on Sep 12, 2016.

In a different note, On Sep 7, 2016, Jefferies said it Upgrades its rating on ConocoPhillips. In the research note, the firm Raises the price-target to $30.00 per share. The shares have been rated ‘Hold’ by the firm. On Jul 11, 2016, JP Morgan said it Upgrades its rating on ConocoPhillips. The shares have been rated ‘Neutral’ by the firm.

ConocoPhillips (COP) shares turned negative on Tuesdays trading session with the shares closing down -0.27 points or -0.69% at a volume of 58,77,156. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $39.83. The peak price level was also seen at $39.83 while the days lowest was $39. Finally the shares closed at $39.01. The 52-week high of the shares is $57.24 while the 52-week low is $31.05. According to the latest information available, the market cap of the company is $48,314 M.

ConocoPhillips(COP) last announced its earnings results on Jul 28, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $5.58B. Analysts had an estimated revenue of $5.38B. Earnings per share were $-0.79. Analysts had estimated an EPS of $-0.58.

Several Insider Transactions has been reported to the SEC. On Sep 2, 2016, John V Faraci (director) purchased 3,879 shares at $51.02 per share price.Also, 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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