Goldman Sachs Sticks to Its Buy Rating for Conocophillips (COP)

In a report released yesterday, Neil Mehta from Goldman Sachs maintained a Buy rating on Conocophillips, with a price target of $144.00. The company’s shares closed yesterday at $121.57.

Claim 30% Off TipRanks

• Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
• Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks

Mehta covers the Energy sector, focusing on stocks such as Suncor Energy, Permian Resources, and Ovintiv. According to TipRanks, Mehta has an average return of 11.5% and a 62.42% success rate on recommended stocks.

In addition to Goldman Sachs, Conocophillips also received a Buy from Barclays’s Betty Jiang in a report issued today. However, on April 8, Truist Financial maintained a Hold rating on Conocophillips (NYSE: COP).

Based on Conocophillips’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $13.31 billion and a net profit of $1.44 billion. In comparison, last year the company earned a revenue of $14.24 billion and had a net profit of $2.3 billion

Based on the recent corporate insider activity of 35 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 113,221.00 shares for a total of $15,024,426.70.