ConocoPhillips (NYSE:COP) Sets New 1-Year High – Still a Buy?

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

Analysts Set New Price Targets

COP has been the topic of several research analyst reports. Weiss Ratings upgraded ConocoPhillips from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, August 6th. Morgan Stanley boosted their price target on ConocoPhillips from $147.00 to $151.00 and gave the company an “overweight” rating in a research note on Wednesday, August 19th. Capital One Financial cut their price objective on ConocoPhillips from $156.00 to $154.00 and set an “equal weight” rating on the stock in a report on Monday, May 18th. Jefferies Financial Group raised their price objective on ConocoPhillips from $160.00 to $161.00 and gave the stock a “buy” rating in a research note on Monday, May 18th. Finally, Raymond James Financial reaffirmed an “underperform” rating and set a $168.00 target price on shares of ConocoPhillips in a report on Monday, August 24th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $140.29.

ConocoPhillips Trading Up 1.2%

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 has a fifty day moving average of $122.04 and a 200-day moving average of $120.02. The company has a market capitalization of $164.21 billion, a price-to-earnings ratio of 18.08, a PEG ratio of 1.42 and a beta of 0.13.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share (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 analyst estimates of $18.79 billion. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The company’s revenue for the quarter was up 32.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.42 earnings per share. As a group, equities research analysts anticipate that ConocoPhillips will post 10.54 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th were issued 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 dividend yield of 2.5%. ConocoPhillips’s dividend payout ratio (DPR) is currently 44.44%.

Insider Activity

In related news, SVP Andrew Lundquist sold 9,487 shares of the business’s stock in a transaction dated 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 directly owned 9,593 shares in the company, 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 Securities & Exchange Commission, which is accessible through this link. Insiders own 0.09% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. AXA S.A. grew its stake 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 purchasing an additional 40,499 shares in the last quarter. Sei Investments Co. raised 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 valued at $70,397,000 after purchasing an additional 44,852 shares in the last quarter. BNP Paribas purchased a new position in shares of ConocoPhillips in the 2nd quarter valued at about $33,000. Osterweis Capital Management Inc. purchased a new stake in shares of ConocoPhillips during the second quarter worth approximately $151,000. Finally, Main Street Financial Solutions LLC raised its holdings in ConocoPhillips by 53.5% in the second quarter. Main Street Financial Solutions LLC now owns 4,806 shares of the energy producer’s stock valued at $431,000 after acquiring an additional 1,675 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

About ConocoPhillips

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.