Morgan Stanley Maintains a Buy Rating on Conocophillips (COP)

In a report released today, Devin McDermott from Morgan Stanley maintained a Buy rating on Conocophillips (COPResearch Report), with a price target of $117.00. The company’s shares closed last Tuesday at $88.27.

According to TipRanks.com, McDermott is a 5-star analyst with an average return of 8.4% and a 56.0% success rate. McDermott covers the Utilities sector, focusing on stocks such as Excelerate Energy, Inc. Class A, Continental Resources, and Occidental Petroleum.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Conocophillips with a $131.62 average price target, which is a 54.1% upside from current levels. In a report released today, Bank of America Securities also upgraded the stock to Buy with a $134.00 price target.

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Conocophillips’ market cap is currently $110B and has a P/E ratio of 8.75.

Based on the recent corporate insider activity of 42 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of COP in relation to earlier this year. Last month, Ryan Michael Lance, the Chairman & CEO of COP sold 584,900 shares for a total of $70,895,729.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

ConocoPhillips is a global oil and gas company. It engages in exploration, production, transportation and marketing of crude oil and natural gas. Its portfolio includes conventional assets in North America, Australia, Europe and Asia, as well as oil sand assets in Canada.

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