ConocoPhillips (NYSE:COP) Hits New 1-Year High - Time to Buy?

Key Points

• ConocoPhillips reached a new 52-week high of $135.96, supported by strong analyst sentiment and an average “Moderate Buy” rating with a $140.29 price target.
• The company reported a strong latest quarter, with EPS of $3.24 beating estimates and revenue rising 32.4% year over year to $19.52 billion. It also declared a quarterly dividend of $0.84 per share, representing a 2.5% annualized yield.
• Potential risks include pressure for lower gasoline prices, possible future crude oversupply from Venezuela, and uncertainty surrounding a disputed valuation in the VIC/P79 project buyout.

ConocoPhillips (NYSE:COP - Get Free Report) reached a new 52-week high during trading on Tuesday . The stock traded as high as $135.96 and last traded at $135.8830, with a volume of 3213599 shares. The stock had previously closed at $132.49.

Trending Headlines about ConocoPhillips

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Analysts continue to express confidence in ConocoPhillips’ prospects after the stock outperformed the Dow over the past year. The company is viewed as relatively well positioned to withstand slowing production growth, high refining-related costs and increasing renewable-energy competition. Is ConocoPhillips Stock Outperforming the Dow?
• Positive Sentiment: ConocoPhillips CEO Ryan Lance, serving as National Petroleum Council chair, backed a national initiative to assess and secure U.S. subsurface resources. Better mapping of underground energy and storage potential could support long-term energy security and create future development opportunities for producers. ConocoPhillips Backs National Push To Secure America’s Subsurface Resources
• Positive Sentiment: Iraq has held discussions with BP and ConocoPhillips regarding oil and gas development, highlighting potential international project opportunities for COP. Separately, a proposed U.S.-Venezuela framework could eventually open access to major reserves and infrastructure investment, although no immediate production benefit is expected. Iraq discusses oil and gas development with BP, ConocoPhillips
• Neutral Sentiment: ConocoPhillips is reportedly involved in a buyout process concerning 3D Energi’s interest in the VIC/P79 project. A valuation dispute over that stake could affect the transaction’s timing and terms, but the direct financial impact on COP remains unclear. 3D Energi Challenges Independent Valuation
• Negative Sentiment: President Trump’s push for lower gasoline prices could pressure oil producers to reduce prices or prioritize consumer relief over shareholder returns. A faster Venezuelan development could also increase future crude supply and weigh on oil prices, while political, investment and infrastructure hurdles make the timing uncertain. Trump Presses Refiners on Gas Prices

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Barclays reduced their target price on shares of ConocoPhillips from $155.00 to $150.00 and set an "overweight" rating on the stock in a research note on Monday, August 17th. UBS Group lifted their price target on shares of ConocoPhillips from $143.00 to $153.00 and gave the company a "buy" rating in a research report on Wednesday, August 12th. Roth Capital upgraded ConocoPhillips from a "neutral" rating to a "buy" rating and upped their price objective for the company from $124.00 to $130.00 in a report on Monday, June 22nd. Argus raised their target price on ConocoPhillips from $136.00 to $153.00 and gave the stock a "buy" rating in a research note on Wednesday, August 19th. Finally, Weiss Ratings raised ConocoPhillips from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $140.29.

ConocoPhillips Stock Performance

The company has a current ratio of 1.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $162.89 billion, a price-to-earnings ratio of 17.94, a price-to-earnings-growth ratio of 1.37 and a beta of 0.11. The firm's fifty day moving average price is $117.88 and its 200 day moving average price is $118.81.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share for the quarter, beating the consensus estimate of $2.90 by $0.34. The firm had revenue of $19.52 billion during the quarter, compared to the consensus estimate of $18.79 billion. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The firm's revenue for the quarter was up 32.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.42 EPS. Analysts forecast that ConocoPhillips will post 10.55 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Monday, August 17th. ConocoPhillips's dividend payout ratio (DPR) is currently 44.44%.

Insider Buying and Selling at ConocoPhillips

In related news, SVP Andrew D. Lundquist sold 9,487 shares of the business's stock in a transaction on Friday, August 21st. The stock was sold at an average price of $135.15, for a total value of $1,282,168.05. Following the sale, the senior vice president owned 9,593 shares in the company, valued at approximately $1,296,493.95. The trade was a 49.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.09% of the company's stock.

Hedge Funds Weigh In On ConocoPhillips

A number of hedge funds and other institutional investors have recently bought and sold shares of COP. California State Teachers Retirement System boosted its stake in shares of ConocoPhillips by 10,228.2% in the second quarter. California State Teachers Retirement System now owns 147,873,744 shares of the energy producer's stock valued at $15,372,954,000 after purchasing an additional 146,441,998 shares during the period. Bank of America Corp DE purchased a new stake in ConocoPhillips during the 2nd quarter worth approximately $1,260,482,000. Primecap Management Co. CA acquired a new stake in ConocoPhillips during the 2nd quarter worth approximately $1,204,726,000. Legal & General Group Plc purchased a new position in ConocoPhillips in the 2nd quarter valued at approximately $716,151,000. Finally, Jupiter Topco LLC purchased a new position in ConocoPhillips in the 2nd quarter valued at approximately $427,954,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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