Conocophillips Received its Third Buy in a Row

By Jason Carr

After Scotiabank and Cowen & Co. assigned a Buy rating to Conocophillips in the last month, the company received another Buy, this time from Jefferies. Analyst Jason Gammel reiterated a Buy rating on Conocophillips (NYSE: COP) today and set a price target of $54. The company’s shares opened today at $42.72.

According to TipRanks.com, Gammel is a 3-star analyst with an average return of 4.2% and a 57.8% success rate. Gammel covers the Basic Materials sector, focusing on stocks such as Baker Hughes a GE company, Diamond Offshore Drilling, and Oceaneering International.

Currently, the analyst consensus on Conocophillips is Strong Buy and the average price target is $50.86, representing a 19.1% upside.

In a report issued on August 20, Cowen & Co. also reiterated a Buy rating on the stock with a $55 price target.

The company has a one year high of $53.17 and a one year low of $39. Currently, Conocophillips has an average volume of 7.68M.

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ConocoPhillips is an exploration company. The company explores, produces, transports and markets crude oil, bitumen, natural gas, natural gas liquids and liquefied natural gas on a worldwide basis. It operates through the following business segments: Alaska, Lower 48, Canada, Europe and North Africa, Asia Pacific and Middle East, and Other International.