|Day's Range||46.14 - 46.75|
|52 Week Range||38.80 - 53.17|
|PE Ratio (TTM)||-37.04|
|Dividend & Yield||1.06 (2.26%)|
|1y Target Est||N/A|
Billions of dollars are being wagered on a bet that OPEC will extend production cuts at its Thursday meeting—and presumably lift oil prices. Some firms, including BlackRock, are telling clients that the recent bounce in oil prices indicates that an extension is already priced into the market. Julian Emanuel, a UBS derivatives strategist, said energy shares have closely tracked oil prices in recent years but seem to have disconnected this year from the historical trend.
The energy experts over at Deutsche Bank have issued a warning to the energy sector. While market dynamics support their call that U.S. crude oil prices will manage to climb to $58 a share by March 2018 -- albeit with lots of volatility along the way -- oil-related stocks are a different kettle of fish. Mark Roberts, head of research and strategy for alternatives, wrote in a note published today that Deutsche Bank “would feel inclined to downgrade:” energy stocks to a Neutral “if OPEC fails to surprise markets” at its meeting on Thursday.
As of May 19, 24 analysts provided recommendations on ConocoPhillips (COP) including six "strong buy," 11 "buy," and seven "hold" recommendations.