What Wall Street Analysts are Saying About ConocoPhillips
Analyst recommendations for ConocoPhillips
As of September 1, 2017, around 73% of the 22 analysts covering ConocoPhillips (COP) had “strong buy” or “buy” recommendations for ConocoPhillips stock. These recommendations include six “strong buy,” ten “buy,” and six “hold” ratings. ConocoPhillips’s stock had no “sell” recommendations.
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The median target price for COP stock, based on analyst recommendations, is $54, which is ~22% higher than its September 1, 2017, closing price of $44.24. The mean target price for COP is $51.44, which is lower than its median target price.
How have recommendations for COP changed in the last month?
In the last month, “hold” recommendations for COP have fallen from seven to six. No other recommendations changed. During this period, ConocoPhillips’s median target price remained the same, whereas its mean target price fell from $52.26 to $51.44. Jefferies recently cut its target price for COP to $54.
Other oil and gas companies
Based on analysts’ mean price targets, oil and gas producers Southwestern Energy (SWN), EOG Resources (EOG), and Cobalt International Energy (CIE) have potential upsides of ~55%, ~11%, and 55%, respectively, based on their September 1 closing prices. Southwestern Energy is a natural gas producer, whereas EOG is primarily a crude oil producer. CIE operates in the offshore oil and gas exploration domain. The Energy Select Sector SPDR ETF (XLE) invests at least 95% of its total assets in oil and gas companies.