ConocoPhillips (NYSE:COP) Stock Price Up 2.8% – What’s Next?

ConocoPhillips (NYSE:COP) shares rose 2.8% during mid-day trading on Monday . The stock traded as high as $104.62 and last traded at $105.23. Approximately 798,906 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 6,739,151 shares. The stock had previously closed at $102.37.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on COP. Wells Fargo & Company cut their price objective on shares of ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Barclays reduced their price target on ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a report on Monday, February 10th. The Goldman Sachs Group set a $132.00 price objective on ConocoPhillips in a research report on Thursday, January 30th. JPMorgan Chase & Co. decreased their price objective on shares of ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Finally, Piper Sandler lowered their price target on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus price target of $132.95.

ConocoPhillips Stock Performance

The firm’s 50 day moving average is $98.96 and its two-hundred day moving average is $103.31. The stock has a market capitalization of $134.05 billion, a PE ratio of 13.52, a P/E/G ratio of 0.79 and a beta of 1.12. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. As a group, research analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.12 annualized dividend and a dividend yield of 2.96%. ConocoPhillips’s dividend payout ratio is presently 40.05%.

Institutional Investors Weigh In On ConocoPhillips

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Confluence Investment Management LLC boosted its position in shares of ConocoPhillips by 2.4% in the 1st quarter. Confluence Investment Management LLC now owns 5,995 shares of the energy producer’s stock valued at $630,000 after purchasing an additional 143 shares during the period. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of ConocoPhillips by 13.6% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 60,180 shares of the energy producer’s stock valued at $6,320,000 after acquiring an additional 7,198 shares during the period. Mascagni Wealth Management Inc. acquired a new stake in shares of ConocoPhillips in the fourth quarter valued at approximately $121,000. DSG Capital Advisors LLC acquired a new position in shares of ConocoPhillips in the 4th quarter valued at $2,588,000. Finally, Triton Wealth Management PLLC purchased a new stake in ConocoPhillips in the 4th quarter valued at $178,000. 82.36% of the stock is currently 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.