Mizuho reaffirmed its “buy” rating on the shares of ConocoPhillips (NYSE: COP) in a letter it sent out to investors on Tuesday, as reported by Benzinga. The letter was sent to investors. In addition, the previous price objective of $135.00 has been raised to a new target price of $151.00 for the energy company’s shares. This represents an increase of $30.00 from the previous price objective. According to the price objective set for Mizuho, the stock may reach approximately 28.66% higher than its most recent price at some point in the future.
In recent weeks, COP has garnered the attention of several new research companies, which is very encouraging. In a report released on October 24, Raymond James increased their price objective on shares of ConocoPhillips from $135.00 to $150.00 and assigned the company a “strong-buy” rating. ConocoPhillips was previously assigned an “underweight” rating by Wells Fargo & Company; however, in a research report that was published on Friday, November 4, the firm upgraded the stock to an “equal weight” rating and increased their price target for the company’s stock from $137.00 to $154.00. Goldman Sachs Group gave ConocoPhillips a “buy” rating in a research report published on November 4. Additionally, Goldman Sachs Group increased their price objective for the company from $128.00 to $140.00. These findings were included in the research presented to the general public. Erste Group Bank reaffirmed their “buy” recommendation on shares of ConocoPhillips in a research note published on Wednesday, October 5. This represents an upgrade from their previous “hold” rating on the company’s stock. StockNews.com made its long-awaited debut on the market on October 12 by beginning coverage of ConocoPhillips shares. This event marked the website’s entry into the market. They advised their clients to “hold” the stock moving forward. The stock has been recommended to sell by one of the equity research analysts, a recommendation to hold it by two of them, a recommendation to buy by fifteen, and a strong buy rating by one of the equity research analysts. The information made available by Bloomberg indicates that the average price target for ConocoPhillips is currently set at $135.48, and the average recommendation for the company is “Moderate Buy.”
When trading started on Tuesday, the price of one share of COP was $117.36 per share. The debt-to-equity ratio, the current ratio, and the quick ratio are equal to 0.33, and the range for each ratio is from 1.46 to 1.37. The price of ConocoPhillips has fluctuated throughout the previous year, going as low as $78.30 and as high as $138.49, with a fifty-day moving average of $121.44 and a 200-day moving average of $101.6. Given the company’s current market value of $146.24 billion, its earnings-to-price ratio of 8.46, its price-to-earnings-growth ratio of 0.48, and its beta rating of 1.29, the company has the sufficient financial backing to support its operations.
This page provides access to the most recent quarterly earnings report for ConocoPhillips, which was released on November 3 and can be viewed at your convenience. The energy company reported earnings per share (EPS) of $3.60 for the quarter, which was $0.19 higher than anticipated. This brought the company’s total revenue for the quarter to $3.41 billion. The return on equity for ConocoPhillips was 35.02%, while the net margin for the company was 22.90%. The company’s quarterly revenue came in at $21.61 billion, which was considerably higher than the analysts’ prediction of $17.05 billion, which the company surpassed by a wide margin. The analysts anticipate that ConocoPhillips will generate 14.05 cents for each share traded this year.
On November 8, Executive Vice President Nicholas G. Olds sold 10,950 shares of company stock. This is just one of the many developments on this topic. The transaction was worth a total of $1,477,155.00 after the shares were sold at an average price of $134.90 per share, bringing the total value of the sale to that amount. Simple