On July 20, 2017, ~66.7% of the 24 analysts covering ConocoPhillips (COP) gave “strong buy” or “buy” recommendations on COP. Of these, five analysts gave “strong buy” recommendations, 11 analysts gave “buy” recommendations, and eight analysts gave “hold” recommendations on the stock. There were no analysts with “strong sell” and “sell” recommendations for COP.
These Wall Street analyst recommendations have a median target price of $54.00. The mean target price for COP stock from these recommendations is $52.58, which is lower than the median target price.
In the last three months, analysts’ “strong buy” recommendations for ConocoPhillips have fallen from seven to five, and the “hold” recommendations for COP have risen from six to eight. The recommendations with “buy,” “sell,” and “strong sell” ratings remained unchanged.
In the last three months, ConocoPhillips’ median and mean target prices have fallen. COP’s median target price has fallen from $59.00 to $54.00, and its mean target price has fallen from $59.84 to $52.58.
In its most recent target price change, Barclays cut its target price for ConocoPhillips by ~18% from $62.00 to $51.00.
Other oil and gas producers
Based on the mean price targets of recommendations from Wall Street analysts, oil and gas companies RSP Permian (RSPP) and Diamondback Energy (FANG) have potential upsides of ~43% and ~29%, respectively, from their July 20 closing prices.
Energen (EGN) has a potential upside of ~24%. Diamondback Energy, Energen, and RSP Permian all have operations in the Permian Basin.
The Direxion Daily S&P Oil & Gas Exploration & Production Bear 3x Shares ETF (DRIP) is a leveraged inverse ETF that invests in oil and gas exploration and production companies.