ConocoPhillips (NYSE:COP) Sets New 52-Week High – Here’s What Happened

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

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on COP shares. The Goldman Sachs Group decreased their price objective on ConocoPhillips from $144.00 to $138.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Seaport Research Partners initiated coverage on ConocoPhillips in a research report on Thursday, September 3rd. They issued a “neutral” rating on the stock. Weiss Ratings raised shares of ConocoPhillips from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, August 6th. Argus raised their price objective on ConocoPhillips from $136.00 to $153.00 and gave the company a “buy” rating in a research report on Wednesday, August 19th. Finally, Jefferies Financial Group upped their price target 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 issued a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $141.24.

ConocoPhillips Stock Performance

The stock has a market capitalization of $167.05 billion, a price-to-earnings ratio of 18.36, a PEG ratio of 1.45 and a beta of 0.13. 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 company’s 50-day simple moving average is $123.34 and its 200-day simple moving average is $120.40.

ConocoPhillips (NYSE:COP) last posted 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. The business had revenue of $19.52 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period last year, the company posted $1.42 earnings per share. On average, analysts expect that ConocoPhillips will post 10.54 EPS for the current year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th were paid a $0.84 dividend. The ex-dividend date was Monday, August 17th. This represents a $3.36 annualized dividend and a yield of 2.4%. ConocoPhillips’s dividend payout ratio (DPR) is currently 44.44%.

Insider Buying and Selling

In related news, SVP Andrew Lundquist sold 9,487 shares of the 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 transaction, the senior vice president owned 9,593 shares of the company’s stock, valued at $1,296,493.95. This represents a 49.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.09% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ConocoPhillips

A number of large investors have recently modified their holdings of the stock. AXA S.A. increased its stake in shares of ConocoPhillips by 91.1% in 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 in the last quarter. Sei Investments Co. grew its position in ConocoPhillips by 6.1% in the 2nd quarter. Sei Investments Co. now owns 784,368 shares of the energy producer’s stock worth $70,397,000 after purchasing an additional 44,852 shares during the period. BNP Paribas bought a new stake in shares of ConocoPhillips during the 2nd quarter valued at about $33,000. Osterweis Capital Management Inc. bought a new position in ConocoPhillips in the 2nd quarter worth $151,000. Finally, Main Street Financial Solutions LLC raised its stake in ConocoPhillips by 53.5% during the 2nd quarter. Main Street Financial Solutions LLC now owns 4,806 shares of the energy producer’s stock worth $431,000 after acquiring an additional 1,675 shares during the period. Institutional investors 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.