ConocoPhillips (NYSE:COP) Reaches New 52-Week High at $128.64

ConocoPhillips (NYSE:COP - Get Free Report) reached a new 52-week high during trading on Thursday . The company traded as high as $128.64 and last traded at $127.28, with a volume of 283769 shares changing hands. The stock had previously closed at $126.84.

Wall Street Analyst Weigh In

COP has been the subject of a number of research reports. Scotiabank increased their target price on ConocoPhillips from $115.00 to $120.00 and gave the company a "sector perform" rating in a research report on Friday, February 9th. Mizuho restated a "neutral" rating and set a $139.00 price target (up previously from $132.00) on shares of ConocoPhillips in a report on Friday, March 22nd. UBS Group increased their price target on ConocoPhillips from $138.00 to $143.00 and gave the company a "buy" rating in a report on Wednesday, February 14th. Johnson Rice lowered ConocoPhillips from an "accumulate" rating to a "hold" rating in a research note on Thursday, December 14th. Finally, Morgan Stanley increased their target price on ConocoPhillips from $123.00 to $129.00 and gave the stock an "overweight" rating in a research note on Thursday. Six equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $135.35.

ConocoPhillips Stock Performance

The business has a 50-day moving average of $113.87 and a two-hundred day moving average of $116.08. The company has a market cap of $149.73 billion, a P/E ratio of 14.08, a P/E/G ratio of 2.87 and a beta of 1.23. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.43 and a quick ratio of 1.29.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its quarterly earnings data on Thursday, February 8th. The energy producer reported $2.40 earnings per share for the quarter, beating analysts' consensus estimates of $2.08 by $0.32. The company had revenue of $15.31 billion for the quarter, compared to the consensus estimate of $14.47 billion. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. During the same quarter last year, the company earned $2.71 earnings per share. On average, sell-side analysts predict that ConocoPhillips will post 8.79 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Monday, February 19th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 2.45%. The ex-dividend date was Thursday, February 15th. This is an increase from ConocoPhillips's previous quarterly dividend of $0.58. ConocoPhillips's dividend payout ratio (DPR) is currently 25.61%.

Insiders Place Their Bets

In other ConocoPhillips news, VP Christopher P. Delk sold 8,505 shares of the firm's stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $112.06, for a total value of $953,070.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, VP Christopher P. Delk sold 8,505 shares of the firm's stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $112.06, for a total value of $953,070.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ryan Michael Lance sold 607,000 shares of the firm's stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $125.91, for a total value of $76,427,370.00. Following the completion of the transaction, the chief executive officer now owns 6,780 shares of the company's stock, valued at $853,669.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 700,775 shares of company stock valued at $87,615,169. 0.37% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of COP. Fairfield Bush & CO. purchased a new position in ConocoPhillips during the first quarter valued at approximately $31,000. Cetera Investment Advisers raised its position in ConocoPhillips by 4.0% during the first quarter. Cetera Investment Advisers now owns 25,399 shares of the energy producer's stock valued at $2,540,000 after acquiring an additional 968 shares in the last quarter. Baird Financial Group Inc. raised its position in ConocoPhillips by 1.9% during the first quarter. Baird Financial Group Inc. now owns 512,126 shares of the energy producer's stock valued at $51,213,000 after acquiring an additional 9,313 shares in the last quarter. Zions Bancorporation N.A. increased its position in shares of ConocoPhillips by 59.1% in the first quarter. Zions Bancorporation N.A. now owns 1,810 shares of the energy producer's stock valued at $181,000 after buying an additional 672 shares in the last quarter. Finally, Brown Brothers Harriman & Co. increased its position in shares of ConocoPhillips by 21.3% in the first quarter. Brown Brothers Harriman & Co. now owns 14,063 shares of the energy producer's stock valued at $1,406,000 after buying an additional 2,465 shares in the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

About ConocoPhillips

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.