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ConocoPhillips’ Price Target Cut at The Benchmark Company (COP)

Integrated oil giant ConocoPhillips ( COP ) on Friday saw its price target lowered once again by analysts at The Benchmark Company.

The firm reiterated its "Sell" rating on COP and cut its price target from $62 to $53. That new target suggests a nearly 21% downside from the stock's Thursday closing price of $66.92.

ConocoPhillips shares, which have fallen 1.7% year-to-date, posted modest losses in premarket trading Friday.

The Bottom Line

Shares of ConocoPhillips ( COP ) have a 3.95% dividend yield, based on last night's closing stock price of $66.92. The stock has technical support in the $60 price area. If the shares can firm up, we see overhead resistance around the $70 price level.

ConocoPhillips ( COP ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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