ConocoPhillips (NYSE:COP) Sets New 12-Month High - Should You Buy?

Key Points

• ConocoPhillips shares reached a new 52-week high of $137.53, supported by strong recent momentum and a 1.5% gain. Analysts maintain a “Moderate Buy” consensus, with an average price target of $140.29.
• The company exceeded quarterly expectations, reporting $3.24 in adjusted EPS versus $2.90 expected and $19.52 billion in revenue, up 32.4% year over year.
• ConocoPhillips pays a quarterly dividend of $0.84, or $3.36 annually, yielding about 2.5%. Institutional investors own 82.36% of the stock, while an insider recently sold nearly half of his holdings.

ConocoPhillips (NYSE:COP - Get Free Report) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $137.53 and last traded at $136.4490, with a volume of 339148 shares changing hands. The stock had previously closed at $134.26.

Analysts Set New Price Targets

A number of brokerages have weighed in on COP. The Goldman Sachs Group lowered their price objective on ConocoPhillips from $144.00 to $138.00 and set a "buy" rating on the stock in a report on Tuesday, June 30th. Wall Street Zen raised shares of ConocoPhillips from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. UBS Group raised their price objective on shares of ConocoPhillips from $143.00 to $153.00 and gave the stock a "buy" rating in a research note on Wednesday, August 12th. Freedom Capital raised ConocoPhillips from a "hold" rating to a "strong-buy" rating in a report on Monday, August 10th. Finally, Mizuho lowered their price target on shares of ConocoPhillips from $150.00 to $146.00 and set an "outperform" rating for the company in a report on Tuesday, July 7th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, ConocoPhillips currently has a consensus rating of "Moderate Buy" and a consensus price target of $140.29.

ConocoPhillips Stock Up 1.5%

The stock has a fifty day moving average price of $120.75 and a 200-day moving average price of $119.67. The firm has a market cap of $163.70 billion, a PE ratio of 18.01, a PEG ratio of 1.41 and a beta of 0.13. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.39 and a current ratio of 1.54.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share for the quarter, beating 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 firm had revenue of $19.52 billion for the quarter, compared to analysts' expectations of $18.79 billion. During the same period in the previous year, the company posted $1.42 earnings per share. ConocoPhillips's revenue was up 32.4% compared to the same quarter last year. Research analysts expect that ConocoPhillips will post 10.54 EPS for the current year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th were given a $0.84 dividend. The ex-dividend date of this dividend was Monday, August 17th. This represents a $3.36 annualized dividend and a yield of 2.5%. ConocoPhillips's dividend payout ratio (DPR) is 44.44%.

Insider Buying and Selling at ConocoPhillips

In other news, SVP Andrew Lundquist sold 9,487 shares of the stock in a transaction dated 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 in the company, valued at approximately $1,296,493.95. This trade represents a 49.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.09% of the stock is owned by insiders.

Hedge Funds Weigh In On ConocoPhillips

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. California State Teachers Retirement System raised its position in shares of ConocoPhillips by 10,228.2% during the 2nd 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 acquiring an additional 146,441,998 shares in the last quarter. Bank of America Corp DE acquired a new stake in shares of ConocoPhillips in the second quarter valued at approximately $1,260,482,000. Primecap Management Co. CA bought a new stake in shares of ConocoPhillips during the second quarter valued at approximately $1,204,726,000. Legal & General Group Plc acquired a new position in shares of ConocoPhillips during the second quarter worth approximately $716,151,000. Finally, Jupiter Topco LLC bought a new position in ConocoPhillips in the 2nd quarter worth approximately $427,954,000. Hedge funds and other institutional investors own 82.36% of the company's stock.

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.

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