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

Key Points

• ConocoPhillips reached a new 52-week high, trading as high as $140.15 and last changing hands near $139.09. Its average analyst price target is $141.24, with a consensus rating of “Moderate Buy.”
• The company exceeded quarterly expectations, reporting adjusted EPS of $3.24 versus the $2.90 consensus and revenue of $19.52 billion, up 32.4% year over year.
• ConocoPhillips recently paid a quarterly dividend of $0.84 per share, equivalent to an annualized $3.36 payout and a 2.4% yield; institutional investors own 82.36% of the stock.

ConocoPhillips (NYSE:COP - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $140.15 and last traded at $139.0880, with a volume of 38355 shares trading hands. The stock had previously closed at $137.35.

Analyst Upgrades and Downgrades

COP has been the subject of a number of research reports. Seaport Research Partners started coverage on ConocoPhillips in a report on Thursday, September 3rd. They set a "neutral" rating for the company. Royal Bank Of Canada set a $130.00 price target on shares of ConocoPhillips in a research report on Monday, June 22nd. Stifel Nicolaus initiated coverage on shares of ConocoPhillips in a research note on Thursday. They set a "hold" rating and a $148.00 price objective for the company. Morgan Stanley increased their price objective on shares of ConocoPhillips from $147.00 to $151.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 19th. Finally, Jefferies Financial Group raised their target price on shares of ConocoPhillips from $160.00 to $161.00 and gave the company a "buy" rating in a research note on Monday, May 18th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $141.24.

ConocoPhillips Price Performance

The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.39 and a current ratio of 1.54. The stock has a market capitalization of $167.05 billion, a price-to-earnings ratio of 18.36, a price-to-earnings-growth ratio of 1.45 and a beta of 0.13. The business's 50 day simple moving average is $123.34 and its 200-day simple moving average is $120.40.

ConocoPhillips (NYSE:COP - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The energy producer reported $3.24 EPS for the quarter, topping analysts' consensus estimates of $2.90 by $0.34. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The company had revenue of $19.52 billion for the quarter, compared to the consensus estimate of $18.79 billion. During the same period in the previous year, the firm earned $1.42 EPS. ConocoPhillips's revenue was up 32.4% on a year-over-year basis. Research analysts anticipate that ConocoPhillips will post 10.54 earnings per share for the current year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th were given a dividend of $0.84 per share. The ex-dividend date was Monday, August 17th. This represents a $3.36 dividend on an annualized basis and a yield of 2.4%. ConocoPhillips's dividend payout ratio (DPR) is presently 44.44%.

Insider Activity at ConocoPhillips

In related news, SVP Andrew Lundquist sold 9,487 shares of the business's stock in a transaction that occurred 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 completion of the sale, the senior vice president owned 9,593 shares of the company's stock, valued at approximately $1,296,493.95. The trade was a 49.72% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.09% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ConocoPhillips

Hedge funds and other institutional investors have recently modified their holdings of the stock. AXA S.A. grew its holdings in ConocoPhillips by 91.1% during the 2nd quarter. AXA S.A. now owns 84,937 shares of the energy producer's stock worth $7,622,000 after acquiring an additional 40,499 shares during the last quarter. Sei Investments Co. increased its stake in shares of ConocoPhillips by 6.1% in the 2nd quarter. Sei Investments Co. now owns 784,368 shares of the energy producer's stock valued at $70,397,000 after acquiring an additional 44,852 shares during the last quarter. BNP Paribas acquired a new stake in shares of ConocoPhillips in the 2nd quarter valued at approximately $33,000. Osterweis Capital Management Inc. bought a new position in ConocoPhillips during the 2nd quarter worth approximately $151,000. Finally, Main Street Financial Solutions LLC grew its holdings in ConocoPhillips by 53.5% during the second quarter. Main Street Financial Solutions LLC now owns 4,806 shares of the energy producer's stock valued at $431,000 after purchasing an additional 1,675 shares during the period. Institutional investors and hedge funds own 82.36% of the company's stock.

ConocoPhillips Company Profile

ConocoPhillips NYSE: COP is an independent exploration and production company engaged primarily in finding, developing and producing crude oil, natural gas and natural gas liquids. The company sells its production to refiners, utilities, industrial customers and other energy market participants.

Its portfolio includes conventional and unconventional assets, with operations and development activities in the United States, including Alaska and the Lower 48, as well as Canada, Australia, Norway, Qatar and other international locations.

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