Worth Watching: What’s Next for ConocoPhillips After Today’s Significant Increase?

Worth Watching: What's Next for ConocoPhillips After Today's Significant Increase?

The stock of ConocoPhillips (NYSE:COP) is a huge mover today! About 6.47 million shares traded hands. ConocoPhillips (NYSE:COP) has risen 1.26% since April 13, 2016 and is uptrending. It has underperformed by 2.67% the S&P500.
The move comes after 6 months positive chart setup for the $55.75 billion company. It was reported on Nov, 15 by Barchart.com. We have $56.00 PT which if reached, will make NYSE:COP worth $13.94 billion more.

ConocoPhillips (NYSE:COP) Ratings Coverage

Out of 19 analysts covering ConocoPhillips (NYSE:COP), 11 rate it a “Buy”, 0 “Sell”, while 8 “Hold”. This means 58% are positive. ConocoPhillips has been the topic of 44 analyst reports since August 4, 2015 according to StockzIntelligence Inc. The rating was downgraded by Oppenheimer on Tuesday, August 4 to “Perform”. The stock has “Sector Perform” rating given by Howard Weil on Friday, February 5. Vetr upgraded it to “Buy” rating and $51.66 target price in Monday, August 24 report. The stock of ConocoPhillips (NYSE:COP) has “Buy” rating given on Tuesday, March 29 by Deutsche Bank. The firm has “Peer Perform” rating given on Thursday, February 11 by Wolfe Research. Credit Agricole initiated ConocoPhillips (NYSE:COP) on Tuesday, December 15 with “Outperform” rating. The firm earned “Buy” rating on Monday, November 7 by Edward Jones. The rating was upgraded by Jefferies to “Hold” on Wednesday, September 7. The firm has “Underperform” rating given on Thursday, April 21 by Jefferies. The firm earned “Buy” rating on Friday, April 29 by Citigroup.

According to Zacks Investment Research, “ConocoPhillips is a major global exploration and production (E&P) company with operations all over the world. As year-end 2014, the company had estimated proved reserves of 8.9 billion oil-equivalent barrels (BOE). Production from continuing operations, excluding Libya, averaged 1,532 thousand barrels of oil equivalent per day (MBOED) in 2014. In May 2012, ConocoPhillips completed the spin-off of its refining/sales business into a separate, independent and publicly traded company, Phillips 66 (Ticker: PSX).”

Insitutional Activity: The institutional sentiment increased to 0.78 in 2016 Q2. Its up 0.10, from 0.68 in 2016Q1. The ratio improved, as 69 funds sold all ConocoPhillips shares owned while 510 reduced positions. 81 funds bought stakes while 371 increased positions. They now own 776.95 million shares or 3.49% more from 750.77 million shares in 2016Q1.
Mizuho Tru & Bk Limited has invested 0.26% of its portfolio in ConocoPhillips (NYSE:COP). Independent Investors holds 0.2% or 9,500 shares in its portfolio. Fishman Jay A Ltd Mi has invested 0% of its portfolio in ConocoPhillips (NYSE:COP). The Connecticut-based Prospector Ptnrs Ltd has invested 0.08% in ConocoPhillips (NYSE:COP). Moreover, Ntv Asset Mngmt Limited Liability Corp has 0.37% invested in ConocoPhillips (NYSE:COP) for 22,705 shares. The New York-based Cullen Cap Mngmt Ltd Liability Company has invested 0.99% in ConocoPhillips (NYSE:COP). Old Mutual Customised Solutions (Proprietary) Limited accumulated 0.71% or 64,300 shares. The Texas-based Matterhorn Mngmt Ltd Llc has invested 3.77% in ConocoPhillips (NYSE:COP). Meeder Asset Incorporated owns 42,657 shares or 0.17% of their US portfolio. Glenmede Tru Na last reported 0.08% of its portfolio in the stock. Parasol Inv Lc accumulated 500 shares or 0.02% of the stock. Regal Advsr Limited Liability holds 60,596 shares or 0.73% of its portfolio. Everett Harris & Company Ca last reported 0.03% of its portfolio in the stock. Guardian Life Ins Com Of America has 4,635 shares for 0.02% of their US portfolio. Sta Wealth Ltd Company has 0.45% invested in the company for 28,219 shares.

Insider Transactions: Since July 29, 2016, the stock had 3 insider purchases, and 0 insider sales for $957,430 net activity. On Monday, August 1 COPELAND JAMES E JR bought $496,750 worth of the stock or 12,500 shares. Shares for $202,500 were bought by DeSanctis Ellen. Shares for $258,180 were bought by Murti Arjun N on Friday, July 29.

More notable recent ConocoPhillips (NYSE:COP) news were published by: Bloomberg.com which released: “ConocoPhillips Was Right to Split” on November 14, 2016, also Cnbc.com with their article: “Donald Trump recognizes the energy renaissance, ConocoPhillips CEO says” published on November 10, 2016, Seekingalpha.com published: “ConocoPhillips – Ready To Go” on November 15, 2016. More interesting news about ConocoPhillips (NYSE:COP) were released by: Realmoney.Thestreet.com and their article: “ConocoPhillips’ ‘Saucer’ Could Start to Fly” published on November 15, 2016 as well as Cnbc.com‘s news article titled: “ConocoPhillips posts smaller Q3 loss on cost, production cuts” with publication date: October 27, 2016.

COP Company Profile

ConocoPhillips (ConocoPhillips), incorporated on November 16, 2001, is an independent exploration and production company. The Firm explores for, produces, transports and markets crude oil, bitumen, natural gas and liquefied natural gas (LNG) and natural gas liquids on a worldwide basis. The Firm operates through six operating divisions, which are primarily defined by geographic region: Alaska; Lower 48; Canada; Europe and North Africa; Asia Pacific and Middle East, and Other International. The Company’s continuing activities are producing in the United States, Norway, the United Kingdom, Canada, Australia, Timor-Leste, Indonesia, China, Malaysia and Qatar. The Company’s portfolio includes North American unconventional assets and oil sands assets in Canada; assets in North America, Europe, Asia and Australia; several international developments, and an inventory of global conventional and unconventional exploration prospects.

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