ConocoPhillips (NYSE:COP) Reaches New 52-Week High - Time to Buy?

Key Points

• ConocoPhillips shares reached a new 52-week high of $152.77 and were recently trading near $150.48, up 0.7%, with the stock’s market capitalization at approximately $182.46 billion.
• Analyst sentiment is broadly positive, with a consensus rating of “Moderate Buy”; Susquehanna and Jefferies raised their price targets to $175 and $174, respectively, although the consensus target remains $145.
• The company reported quarterly EPS of $3.24, exceeding expectations, while revenue rose 32.4% year over year to $19.52 billion. ConocoPhillips also pays a quarterly dividend of $0.84 per share, representing a 2.2% annual yield.

Shares of ConocoPhillips (NYSE:COP - Get Free Report) reached a new 52-week high on Monday. The stock traded as high as $152.77 and last traded at $150.4840, with a volume of 7,243,476 shares. The stock had previously closed at $150.80.

Analysts Set New Price Targets

Several equities research analysts have issued reports on COP shares. Weiss Ratings raised shares of ConocoPhillips from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, September 29th. Susquehanna boosted their target price on shares of ConocoPhillips from $161.00 to $175.00 and gave the stock a "positive" rating in a research note on Tuesday, October 20th. Stifel Nicolaus initiated coverage on shares of ConocoPhillips in a report on Thursday, September 10th. They set a "hold" rating and a $148.00 price target for the company. Morgan Stanley lifted their price objective on ConocoPhillips from $151.00 to $159.00 and gave the company an "overweight" rating in a research note on Thursday, October 15th. Finally, Jefferies Financial Group boosted their target price on shares of ConocoPhillips from $159.00 to $174.00 and gave the stock a "buy" rating in a research note on Tuesday, October 6th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $145.00.

ConocoPhillips Stock Up 0.7%

The firm's 50-day moving average is $134.24 and its 200 day moving average is $122.94. The stock has a market cap of $182.46 billion, a price-to-earnings ratio of 20.02, a price-to-earnings-growth ratio of 1.47 and a beta of 0.24. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.54 and a quick ratio of 1.39.

ConocoPhillips (NYSE:COP - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The energy producer reported $3.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.90 by $0.34. The company had revenue of $19.52 billion during the quarter, compared to analyst estimates of $18.79 billion. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The business's quarterly revenue was up 32.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.42 earnings per share. Sell-side analysts anticipate that ConocoPhillips will post 11.42 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Monday, August 17th were paid a dividend of $0.84 per share. The ex-dividend date was Monday, August 17th. This represents a $3.36 annualized dividend and a yield of 2.2%. ConocoPhillips's dividend payout ratio is 44.44%.

Insiders Place Their Bets

In other ConocoPhillips news, SVP Andrew Lundquist sold 9,487 shares of the firm's stock in a transaction that occurred on Friday, August 21st. The shares were 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. This trade represents a 49.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.09% of the stock is currently owned by corporate insiders.

Institutional Trading of ConocoPhillips

A number of hedge funds and other institutional investors have recently made changes to their positions in COP. Venture Visionary Partners LLC increased its position in ConocoPhillips by 263.6% during the third quarter. Venture Visionary Partners LLC now owns 118,655 shares of the energy producer's stock worth $14,850,000 after buying an additional 86,019 shares during the last quarter. Cooper Financial Group lifted its position in ConocoPhillips by 55.9% during the 3rd quarter. Cooper Financial Group now owns 11,635 shares of the energy producer's stock worth $1,456,000 after buying an additional 4,172 shares in the last quarter. B. Metzler seel. Sohn & Co. AG bought a new position in shares of ConocoPhillips in the 2nd quarter valued at about $6,896,000. Cetera Trust Company N.A bought a new position in ConocoPhillips during the 2nd quarter worth approximately $870,000. Finally, Qsemble Capital Management LP bought a new position in shares of ConocoPhillips during the 2nd quarter valued at about $3,645,000. 82.36% of the stock is currently owned by institutional investors.

About ConocoPhillips

ConocoPhillips NYSE: COP is an independent exploration and production company engaged in finding, developing and producing oil, natural gas and natural gas liquids. Unlike integrated energy companies, it primarily focuses on upstream activities rather than operating large refining or retail fuel businesses.

The company's portfolio includes conventional and unconventional oil and natural gas assets, liquefied natural gas-related interests, oil sands operations and other energy resources.

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