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ConocoPhillips Is Trading Near Wall Street’s Lowest Target Price

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Sep. 22 2016, Updated 4:04 p.m. ET

Wall Street analysts’ ratings for ConocoPhillips

Currently, ~33% of Wall Street analysts rate ConocoPhillips (COP) a “buy,” and ~66% of them rate it a “hold.” There are no “sell” ratings for the stock. The median price target from these recommendations is $53.60, which is ~32% higher than COP’s September 21, 2016, closing price of $40.06.

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Recent recommendations for ConocoPhillips 

As you can see in the above table, ConocoPhillips’s most recent recommendation of “outperform” comes from Bernstein, issued on September 20, 2016. Bernstein assigned the company a target price of $55, which is ~37% higher than the September 21, 2016, closing price of $40.06. Bernstein didn’t mention any target date for the target price.

ConocoPhillips’s highest and lowest target prices

On September 15, 2016, Evercore ISI assigned ConocoPhillips the highest target price of $70, which is ~75% higher than its September 21, 2016, closing price of $40.06. It didn’t mention any target date for the target price.

On September 7, 2016, Jefferies assigned ConocoPhillips the lowest target price of $40, which is almost the same as COP’s September 21, 2016, closing price of $40.06. It didn’t mention any target date for the target price.

Other upstream players

Based on the median price targets of recommendations from Wall Street analysts, other upstream companies such as SM Energy (SM), Antero Resources (AR), and QEP Resources (QEP) have potential upsides of ~21%, ~23%, and ~41%, respectively, from their September 21, 2016, closing prices.

The SPDR S&P Oil and Gas Exploration & Production ETF (XOP) generally invests at least 80% of its total assets in oil and gas exploration companies.

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