Is ConocoPhillips (NYSE:COP) Now a Sell? Why did Goldman Sachs Downgrade The Stock?

October 2, 2018 - By Marguerite Chambers

ConocoPhillips (NYSE:COP) Logo

Investors sentiment increased to 0.87 in Q2 2018. 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.

First Comml Bank Of Mount Dora Tru Services holds 1.73% or 55,487 shares in its portfolio. Goelzer Inv Management Incorporated holds 0.79% or 97,480 shares. Everett Harris Ca accumulated 10,700 shares. 2.28 million are owned by Principal Financial Grp Inc. State Treasurer State Of Michigan owns 346,455 shares for 0.19% of their portfolio. Sterling Cap Management Limited Liability invested 0.11% in ConocoPhillips (NYSE:COP). Dumont & Blake Investment Advsr Llc reported 0.31% in ConocoPhillips (NYSE:COP). Grassi Investment Mngmt has 91,250 shares for 1.02% of their portfolio. Robeco Institutional Asset Mgmt Bv holds 0.12% or 379,254 shares. British Columbia Mgmt Corp invested in 0.37% or 597,060 shares. Ontario – Canada-based Highstreet Asset Mgmt Incorporated has invested 0.08% in ConocoPhillips (NYSE:COP). Bollard Ltd Liability Corp owns 94,407 shares for 0.3% of their portfolio. Argyle Cap Inc stated it has 1.51% of its portfolio in ConocoPhillips (NYSE:COP). Da Davidson & Company has 0.14% invested in ConocoPhillips (NYSE:COP). Shufro Rose And Limited Com accumulated 10,650 shares.

Since April 30, 2018, it had 0 insider buys, and 11 selling transactions for $40.26 million activity. Another trade for 6,763 shares valued at $439,862 was sold by Schwarz Glenda Mae. Shares for $243,586 were sold by Freeman Jody on Monday, April 30. $4.27M worth of stock was sold by Wallette Don E Jr. on Wednesday, August 22. Lance Ryan Michael also sold $11.54 million worth of ConocoPhillips (NYSE:COP) on Wednesday, August 22.

ConocoPhillips (NYSE:COP) Receives a Downgrade

The Rating of ConocoPhillips (NYSE:COP) shares have been cut by Goldman Sachs from a Buy rating to a Neutral rating in an analyst report sent to investors and clients on 2 October.

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 -1.99% below currents $79.89 stock price. ConocoPhillips had 21 analyst reports since April 9, 2018 according to SRatingsIntel. The rating was maintained by RBC Capital Markets on Friday, April 13 with “Buy”. As per Wednesday, July 11, the company rating was maintained by Barclays Capital. RBC Capital Markets downgraded the stock to “Sector Perform” rating in Thursday, September 20 report. The stock has “Overweight” rating by Morgan Stanley on Wednesday, September 26. JP Morgan maintained it with “Overweight” rating and $85 target in Friday, July 27 report. The firm has “Buy” rating given on Sunday, April 22 by Piper Jaffray. Morgan Stanley maintained ConocoPhillips (NYSE:COP) rating on Thursday, August 16. Morgan Stanley has “Overweight” rating and $84 target. The rating was maintained by Barclays Capital with “Overweight” on Friday, April 27. RBC Capital Markets maintained the shares of COP in report on Monday, July 23 with “Outperform” rating. BMO Capital Markets maintained it with “Outperform” rating and $80 target in Friday, July 27 report.

The stock increased 3.22% or $2.49 during the last trading session, reaching $79.89. About 6.41M shares traded or 17.67% up from the average. 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 17.07 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 $92.84 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 21.09 P/E ratio.

More important 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 published article titled: “Energy Recap: New This Week – Tracking Energy IPOs”, Seekingalpha.com published: “KBR, ConocoPhillips plan FEED quality reference design for LNG train” on September 17, 2018. More interesting news about ConocoPhillips (NYSE:COP) was released by: Seekingalpha.com and their article: “ConocoPhillips: 3 Things To Love About This Stock” with publication date: September 27, 2018.

ConocoPhillips (NYSE:COP) Institutional Positions Chart

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