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ConocoPhillips’s Target Price during the 2-Month Consolidation

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Recommendations

As of February 13, 2017, 26 analysts are providing recommendations for ConocoPhillips (COP) stock. Seven have recommended a “strong buy,” 11 a “buy,” seven a “hold,” and one a “sell.” There are no “strong sell” recommendations for the stock.

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Target price

The median target price from the 26 analysts is $58, which is ~16.0% higher than the February 10, 2017, closing price of $50.14.

The mean target price is $57.77, which is slightly lower than the median target price.

How COP’s recommendations have changed in the last 2 months

As we saw in the first part of this series, ConocoPhillips has been consolidating strong gains since the second week of December 2016. Since then, “strong buy” recommendations have risen from six to seven, while “buy” ratings have risen from nine to 11. “Hold” ratings have fallen from nine to seven, and “sell” and “strong sell” ratings have stayed the same.

Since the second week of December 2016, COP’s median and mean target prices have risen. Its median target price has risen from $53.50 to $58, and its mean target price has risen from $54.32 to $57.77.

Other oil and gas producers

According to Wall Street analysts’ recommendations for other oil and gas companies, Carrizo Oil & Gas (CRZO) and Gulfport Energy (GPOR) have potential upsides of ~38.0% and ~53.0%, respectively, from their February 10, 2017, closing prices. Denbury Resources (DNR) has a potential downside of ~7.0%.

The SPDR S&P Oil & Gas Exploration & Production ETF (XOP) generally invests at least 80.0% of its total assets in oil and gas exploration companies. The Energy Select Sector SPDR ETF (XLE) invests at least 95.0% of its total assets in oil and gas companies.

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