ConocoPhillips (NYSE:COP) Reaches New 1-Year High at $128.64

ConocoPhillips (NYSE:COP) reached a new 52-week high on Thursday . The stock traded as high as $128.64 and last traded at $127.28, with a volume of 283769 shares changing hands. The stock had previously closed at $126.84.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on COP. Susquehanna decreased their target price on ConocoPhillips from $152.00 to $133.00 and set a “positive” rating for the company in a report on Friday, January 26th. JPMorgan Chase & Co. decreased their price objective on ConocoPhillips from $153.00 to $141.00 and set a “neutral” rating for the company in a report on Friday, December 8th. Scotiabank increased their price target on shares of ConocoPhillips from $115.00 to $120.00 and gave the stock a “sector perform” rating in a report on Friday, February 9th. Piper Sandler decreased their target price on ConocoPhillips from $139.00 to $133.00 and set an “overweight” rating on the stock in a research report on Thursday, March 14th. Finally, Mizuho reiterated a “neutral” rating and set a $139.00 price target (up from $132.00) on shares of ConocoPhillips in a report on Friday, March 22nd. Six analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, ConocoPhillips presently has a consensus rating of “Moderate Buy” and an average target price of $135.12.

ConocoPhillips Trading Up 0.4 %

The company has a quick ratio of 1.29, a current ratio of 1.43 and a debt-to-equity ratio of 0.36. The company’s fifty day simple moving average is $113.49 and its two-hundred day simple moving average is $116.01. The company has a market capitalization of $149.86 billion, a price-to-earnings ratio of 14.05, a price-to-earnings-growth ratio of 2.87 and a beta of 1.23.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.08 by $0.32. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. The business had revenue of $15.31 billion during the quarter, compared to analysts’ expectations of $14.47 billion. During the same period in the prior year, the business earned $2.71 EPS. Research analysts forecast that ConocoPhillips will post 8.79 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Monday, February 19th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.45%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Thursday, February 15th. ConocoPhillips’s payout ratio is 25.61%.

Insider Buying and Selling

In other news, VP Christopher P. Delk sold 8,505 shares of ConocoPhillips stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total value of $953,070.30. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO William L. Jr. Bullock sold 45,200 shares of the firm’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $123.32, for a total value of $5,574,064.00. Following the completion of the sale, the chief financial officer now directly owns 44,153 shares in the company, valued at approximately $5,444,947.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Christopher P. Delk sold 8,505 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total value of $953,070.30. The disclosure for this sale can be found here. Over the last three months, 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

Institutional investors have recently made changes to their positions in the business. West Tower Group LLC bought a new position in shares of ConocoPhillips in the second quarter valued at about $27,000. Orion Capital Management LLC bought a new stake in shares of ConocoPhillips during the third quarter worth approximately $27,000. West Branch Capital LLC increased its stake in shares of ConocoPhillips by 87.8% during the fourth quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock worth $27,000 after purchasing an additional 108 shares during the period. Sachetta LLC bought a new stake in ConocoPhillips in the 4th quarter valued at $27,000. Finally, Cooksen Wealth LLC acquired a new position in ConocoPhillips in the 4th quarter valued at $27,000. 82.36% of the stock is owned by institutional investors and hedge funds.

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.