UBS AG Cuts Price Target on ConocoPhillips (COP)

By admin | 7 years ago

Research analysts at UBS AG (NYSE: UBS) cut their target price on shares of ConocoPhillips (NYSE: COP) to $47.00 in a report released on Tuesday.

Shares of ConocoPhillips traded down 3.07% during mid-day trading on Tuesday, hitting $54.775. ConocoPhillips has a 52 week low of $55.46 and a 52 week high of $80.13. The company has a market cap of $70.095 billion and a P/E ratio of 6.17.

The company last announced its quarterly results on Monday, April 23rd. It reported $2.02 earnings per share (EPS) for the previous quarter, missing the Thomson Reuters consensus estimate of $2.06 EPS by $0.04. On average, analysts predict that ConocoPhillips will post $1.50 earnings per share next quarter.

Several other analysts have also recently commented on the stock. Analysts at Macquarie upgraded shares of ConocoPhillips from an “underperform” rating to a “neutral” rating in a research note to investors on Thursday, April 26th. Separately, analysts at Morgan Stanley (NYSE: MS) cut their price target on shares of ConocoPhillips from $86.00 to $76.00 in a research note to investors on Tuesday, April 24th. They now have an “underweight” rating on the stock. Finally, analysts at Deutsche Bank (NYSE: DB) downgraded shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research note to investors on Wednesday, April 18th.

ConocoPhillips is an international, integrated energy company. It has six segments. Its E&P segment explores for, produces, transports and markets crude oil, natural gas, natural gas liquids and bitumen on a worldwide basis.

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