ConocoPhillips (NYSE:COP) Hits New 12-Month High After Analyst Upgrade

Shares of ConocoPhillips (NYSE:COP - Get Free Report) hit a new 52-week high during trading on Friday after Scotiabank raised their price target on the stock from $120.00 to $135.00. Scotiabank currently has a sector perform rating on the stock. ConocoPhillips traded as high as $135.18 and last traded at $134.49, with a volume of 416743 shares. The stock had previously closed at $132.92.

A number of other research firms also recently issued reports on COP. Barclays assumed coverage on ConocoPhillips in a report on Wednesday. They issued an "overweight" rating and a $158.00 price objective for the company. UBS Group increased their price objective on ConocoPhillips from $138.00 to $143.00 and gave the stock a "buy" rating in a report on Wednesday, February 14th. Susquehanna decreased their price objective on ConocoPhillips from $152.00 to $133.00 and set a "positive" rating for the company in a report on Friday, January 26th. Wells Fargo & Company increased their price objective on ConocoPhillips from $141.00 to $149.00 and gave the stock an "overweight" rating in a report on Wednesday. Finally, Mizuho reiterated a "neutral" rating and issued a $139.00 price objective (up previously from $132.00) on shares of ConocoPhillips in a report on Friday, March 22nd. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $140.59.

Insider Buying and Selling

In related news, CEO Ryan Michael Lance sold 607,000 shares of ConocoPhillips 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 sale, the chief executive officer now directly owns 6,780 shares in the company, valued at approximately $853,669.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other ConocoPhillips news, 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 transaction, the chief executive officer now directly owns 6,780 shares of the company's stock, valued at $853,669.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Heather G. Hrap sold 4,548 shares of the firm's stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $110.55, for a total value of $502,781.40. Following the completion of the transaction, the senior vice president now directly owns 2,654 shares in the company, valued at $293,399.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 700,775 shares of company stock worth $87,615,169. 0.37% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Fairfield Bush & CO. purchased a new position in shares of ConocoPhillips during the 1st quarter valued at about $31,000. Cetera Investment Advisers lifted its position in shares of ConocoPhillips by 4.0% during the 1st quarter. Cetera Investment Advisers now owns 25,399 shares of the energy producer's stock valued at $2,540,000 after buying an additional 968 shares in the last quarter. Baird Financial Group Inc. lifted its position in shares of ConocoPhillips by 1.9% during the 1st quarter. Baird Financial Group Inc. now owns 512,126 shares of the energy producer's stock valued at $51,213,000 after buying an additional 9,313 shares in the last quarter. Zions Bancorporation N.A. lifted its position in shares of ConocoPhillips by 59.1% during the 1st 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. lifted its position in shares of ConocoPhillips by 21.3% during the 1st 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 owned by hedge funds and other institutional investors.

ConocoPhillips Trading Down 1.3 %

The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.29 and a current ratio of 1.43. The stock has a market capitalization of $154.39 billion, a PE ratio of 14.65, a PEG ratio of 2.88 and a beta of 1.24. The stock has a 50-day moving average price of $118.42 and a two-hundred day moving average price of $116.81.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate 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 EPS. As a group, equities analysts forecast that ConocoPhillips will post 9.22 earnings per share for the current year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Monday, February 19th were paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 2.38%. 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 25.61%.

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.