Goldman Gives ConocoPhillips (NYSE:COP) a Lower Rating. Drops its “Buy” Rating

October 2, 2018 - By Marie Mckinney

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Investors sentiment increased to 0.87 in 2018 Q2. Its up 0.20, from 0.67 in 2018Q1. It increased, as 28 investors sold ConocoPhillips shares while 507 reduced holdings. 133 funds opened positions while 334 raised stakes. 801.11 million shares or 0.56% less from 805.59 million shares in 2018Q1 were reported.

Johnson Investment Counsel has invested 0.06% in ConocoPhillips (NYSE:COP). Jolley Asset Management Limited Company has invested 0.13% in ConocoPhillips (NYSE:COP). Yacktman Asset Mngmt Limited Partnership reported 2.19M shares. Benchmark Advisors reported 0.51% stake. Balyasny Asset Limited Co holds 36,188 shares. New Mexico Educational Retirement Board holds 0.3% of its portfolio in ConocoPhillips (NYSE:COP) for 108,256 shares. Fil Limited accumulated 193,442 shares. Ci holds 0.49% in ConocoPhillips (NYSE:COP) or 897,823 shares. Provise Group Incorporated Limited Liability Co stated it has 0.03% of its portfolio in ConocoPhillips (NYSE:COP). Capital Planning Advsr Ltd holds 4,400 shares. Tiedemann Advsr Limited Liability Corp has 0.08% invested in ConocoPhillips (NYSE:COP) for 17,236 shares. Vident Invest Advisory Ltd Llc holds 0.04% or 15,014 shares. Congress Asset Management Ma reported 131,614 shares or 0.13% of all its holdings. Headinvest Limited Liability invested 0.14% of its portfolio in ConocoPhillips (NYSE:COP). Csat Advisory Ltd Partnership reported 0% of its portfolio in ConocoPhillips (NYSE:COP).

Since April 30, 2018, it had 0 insider purchases, and 11 insider sales for $40.26 million activity. Shares for $7.97M were sold by KELLY JANET LANGFORD. On Wednesday, August 22 the insider Lance Ryan Michael sold $11.54M. The insider Schwarz Glenda Mae sold 18,882 shares worth $1.34M. Wallette Don E Jr. sold $4.27M worth of stock or 59,432 shares.

ConocoPhillips (NYSE:COP) Receives a Downgrade

Goldman has downgraded the rating for shares of ConocoPhillips (NYSE:COP) to a solid “Neutral” in a note shared with investors on Tuesday, 2 October. COP’s previous rating by the firm was a “Buy”.

ConocoPhillips (NYSE:COP) Ratings Coverage

Among 14 analysts covering ConocoPhillips (NYSE:COP), 8 have Buy rating, 0 Sell and 6 Hold. Therefore 57% are positive. ConocoPhillips has $85 highest and $6400 lowest target. $78.30’s average target is -0.53% below currents $78.72 stock price. ConocoPhillips had 21 analyst reports since April 9, 2018 according to SRatingsIntel. The company was maintained on Wednesday, July 11 by Barclays Capital. The firm earned “Hold” rating on Thursday, April 19 by Jefferies. The rating was downgraded by Macquarie Research on Thursday, April 26 to “Neutral”. The rating was maintained by JP Morgan on Monday, April 9 with “Overweight”. The firm has “Overweight” rating by Morgan Stanley given on Thursday, August 16. Bernstein upgraded it to “Outperform” rating and $82 target in Friday, June 8 report. The firm earned “Outperform” rating on Friday, July 27 by BMO Capital Markets. Morgan Stanley maintained ConocoPhillips (NYSE:COP) rating on Wednesday, September 26. Morgan Stanley has “Overweight” rating and $85 target. The rating was maintained by JP Morgan on Friday, July 27 with “Overweight”. The stock has “Sector Perform” rating by RBC Capital Markets on Thursday, September 20.

The stock decreased 1.46% or $1.17 during the last trading session, reaching $78.72. About 2.66 million shares traded. ConocoPhillips (NYSE:COP) has risen 60.18% since October 2, 2017 and is uptrending. It has outperformed by 44.56% the S&P500.

Analysts await ConocoPhillips (NYSE:COP) to report earnings on October, 25. They expect $1.17 earnings per share, up 631.25 % or $1.01 from last year’s $0.16 per share. COP’s profit will be $1.36B for 16.82 P/E if the $1.17 EPS becomes a reality. After $1.09 actual earnings per share reported by ConocoPhillips for the previous quarter, Wall Street now forecasts 7.34 % EPS growth.

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas , and natural gas liquids worldwide. The company has market cap of $91.48 billion. The Company’s portfolio includes North American tight oil and oil sands assets; lower-risk conventional assets in North America, Europe, Asia, and Australia; various LNG developments; and an inventory of conventional and unconventional exploration prospects. It has a 20.78 P/E ratio.

More notable recent ConocoPhillips (NYSE:COP) news were published by: Bizjournals.com which released: “ConocoPhillips to sell stake in Southeast Asian asset for $350M” on October 01, 2018, also Seekingalpha.com with their article: “Reuters: Permian Basin boom outpaces supply, transport networks” published on October 02, 2018, Seekingalpha.com published: “ConocoPhillips: 3 Things To Love About This Stock” on September 27, 2018. More interesting news about ConocoPhillips (NYSE:COP) were released by: Seekingalpha.com and their article: “Energy Recap: New This Week – Tracking Energy IPOs” published on September 28, 2018 as well as Seekingalpha.com‘s news article titled: “KBR, ConocoPhillips plan FEED quality reference design for LNG train” with publication date: September 17, 2018.

ConocoPhillips (NYSE:COP) Institutional Positions Chart

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