ConocoPhillips (NYSE:COP) Sets New 12-Month High - What's Next?

Key Points

• New 52‑week high: ConocoPhillips shares reached a 52‑week high of $128.36 (last $128.14) on Monday, giving the company a market cap of about $157.7 billion.
• Mixed analyst outlook: Several firms raised targets (Mizuho to $136, Wells Fargo to $133, Barclays to $128), but the MarketBeat consensus price target is $120.38 with an average rating of "Moderate Buy," which is below the current share price.
• Fundamentals and insider activity: The latest quarter missed expectations (EPS $1.02 vs. $1.23 est., revenue $13.86B vs. $14.35B), the company pays a $0.84 quarterly dividend (2.6% yield), and insiders sold about 100,176 shares (~$11.9M) in the past 90 days.

ConocoPhillips (NYSE:COP - Get Free Report)'s stock price hit a new 52-week high on Monday . The stock traded as high as $128.36 and last traded at $128.14, with a volume of 6449542 shares traded. The stock had previously closed at $126.92.

Wall Street Analysts Forecast Growth

COP has been the subject of several research reports. Mizuho raised their target price on ConocoPhillips from $121.00 to $136.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 17th. Bank of America restated an "underperform" rating and issued a $102.00 price objective on shares of ConocoPhillips in a research note on Friday, January 16th. Susquehanna raised their price objective on shares of ConocoPhillips from $115.00 to $121.00 and gave the stock a "positive" rating in a report on Friday, February 6th. Wells Fargo & Company lifted their target price on shares of ConocoPhillips from $132.00 to $133.00 and gave the company an "overweight" rating in a research report on Friday, February 6th. Finally, Barclays upped their target price on shares of ConocoPhillips from $118.00 to $128.00 and gave the company an "overweight" rating in a research note on Monday, March 16th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $120.38.

ConocoPhillips Stock Up 0.5%

The company has a quick ratio of 1.14, a current ratio of 1.30 and a debt-to-equity ratio of 0.35. The business has a 50-day simple moving average of $109.30 and a two-hundred day simple moving average of $97.85. The stock has a market capitalization of $157.67 billion, a P/E ratio of 20.12, a PEG ratio of 3.49 and a beta of 0.27.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its quarterly earnings data on Thursday, February 5th. The energy producer reported $1.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.23 by ($0.21). ConocoPhillips had a net margin of 12.98% and a return on equity of 11.90%. The company had revenue of $13.86 billion for the quarter, compared to the consensus estimate of $14.35 billion. During the same period in the previous year, the business posted $1.98 earnings per share. The firm's revenue was down 3.7% compared to the same quarter last year. Equities research analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Wednesday, February 18th were given a dividend of $0.84 per share. The ex-dividend date was Wednesday, February 18th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.6%. ConocoPhillips's dividend payout ratio (DPR) is 53.00%.

Insider Activity

In other news, EVP Nicholas G. Olds sold 14,522 shares of the firm's stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $119.36, for a total transaction of $1,733,345.92. Following the completion of the sale, the executive vice president owned 12,389 shares of the company's stock, valued at approximately $1,478,751.04. This trade represents a 53.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Timothy A. Leach sold 40,000 shares of ConocoPhillips stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $118.79, for a total transaction of $4,751,600.00. Following the completion of the transaction, the director owned 411,211 shares of the company's stock, valued at $48,847,754.69. This trade represents a 8.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 100,176 shares of company stock worth $11,934,877 over the last ninety days. Corporate insiders own 0.24% of the company's stock.

Institutional Investors Weigh In On ConocoPhillips

Large investors have recently bought and sold shares of the business. Tema Etfs LLC bought a new position in shares of ConocoPhillips in the 3rd quarter valued at $1,804,000. Victory Capital Management Inc. raised its holdings in shares of ConocoPhillips by 14.7% during the 3rd quarter. Victory Capital Management Inc. now owns 2,331,176 shares of the energy producer's stock worth $220,506,000 after buying an additional 298,245 shares in the last quarter. Natixis Advisors LLC lifted its position in shares of ConocoPhillips by 8.7% during the 3rd quarter. Natixis Advisors LLC now owns 1,996,426 shares of the energy producer's stock worth $188,842,000 after buying an additional 160,410 shares during the last quarter. D.A. Davidson & CO. boosted its stake in ConocoPhillips by 12.1% in the third quarter. D.A. Davidson & CO. now owns 140,829 shares of the energy producer's stock valued at $13,321,000 after buying an additional 15,202 shares in the last quarter. Finally, Chilton Capital Management LLC boosted its stake in ConocoPhillips by 3.2% in the third quarter. Chilton Capital Management LLC now owns 389,995 shares of the energy producer's stock valued at $36,890,000 after buying an additional 11,958 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors.

About ConocoPhillips

ConocoPhillips NYSE: COP is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company's activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.

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