ConocoPhillips (NYSE:COP) Hits New 12-Month High on Analyst Upgrade

ConocoPhillips (NYSE:COP) reached a new 52-week high during trading on Thursday after Morgan Stanley raised their price target on the stock from $147.00 to $151.00. Morgan Stanley currently has an overweight rating on the stock. ConocoPhillips traded as high as $135.87 and last traded at $135.54, with a volume of 2833737 shares trading hands. The stock had previously closed at $130.58.

COP has been the topic of a number of other reports. Barclays lowered their price objective on shares of ConocoPhillips from $155.00 to $150.00 and set an “overweight” rating on the stock in a report on Monday. Weiss Ratings raised shares of ConocoPhillips from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, August 6th. Raymond James Financial lowered their price target on shares of ConocoPhillips from $145.00 to $142.00 and set an “outperform” rating on the stock in a research note on Monday, June 1st. UBS Group boosted their price target on shares of ConocoPhillips from $143.00 to $153.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Finally, Scotiabank increased their price objective on shares of ConocoPhillips from $100.00 to $125.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus price target of $139.21.

More ConocoPhillips News

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Higher oil prices support earnings expectations: A broader rally in crude and energy shares improved the near-term outlook for ConocoPhillips’ production and cash flow. ConocoPhillips gains as higher oil prices add to post-earnings momentum
• Positive Sentiment: Strong second-quarter performance: ConocoPhillips reported adjusted earnings of $3.24 per share, above the $2.90 consensus estimate, while revenue reached $19.52 billion. Cash from operations totaled $7.2 billion, and the company doubled share repurchases during the quarter.
• Positive Sentiment: Shareholder returns and guidance reaffirmed: The company declared a third-quarter ordinary dividend of $0.84 per share and maintained its full-year outlook, signaling confidence in operating performance and cash generation.
• Positive Sentiment: Analyst support strengthened: Argus raised its price target to $153 from $136 and maintained a buy rating. Recent analyst targets have generally been constructive, with a reported median target of $146.
• Positive Sentiment: Growth and asset catalysts: Coverage highlighted ConocoPhillips’ earnings momentum, low-cost resource inventory, LNG growth potential and potential cash-flow benefits from its portfolio, supporting the long-term investment case. Is ConocoPhillips Stock a Buy as Growth Meets a Premium Valuation?
• Neutral Sentiment: Norway asset transaction: Aker BP agreed to acquire Apache and ConocoPhillips interests offshore Norway. The deal may streamline the portfolio, but its immediate effect on COP’s valuation was unclear. Aker BP to buy Apache, ConocoPhillips stakes offshore Norway
• Negative Sentiment: Valuation and execution risks: Analysts noted that COP’s premium valuation leaves less room for disappointment, while LNG growth and other strategic initiatives depend on successful execution. Is ConocoPhillips Stock a Buy as Growth Meets a Premium Valuation?
• Negative Sentiment: Insider selling: Reported insider activity showed 12 sales and no purchases over the past six months, including significant sales by senior executives. This may temper sentiment, although insider sales can reflect compensation or diversification rather than a fundamental outlook.

Institutional Trading of ConocoPhillips

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in shares of ConocoPhillips in the 4th quarter valued at about $25,000. Strive Asset Management LLC acquired a new position in ConocoPhillips during the third quarter worth approximately $28,000. Frazier Financial Advisors LLC increased its position in ConocoPhillips by 151.0% during the first quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock worth $32,000 after buying an additional 145 shares during the last quarter. Allied Private Wealth LLC bought a new stake in ConocoPhillips in the second quarter valued at approximately $32,000. Finally, BNP Paribas acquired a new stake in shares of ConocoPhillips in the second quarter valued at approximately $33,000. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Stock Performance

The company has a debt-to-equity ratio of 0.35, a current ratio of 1.54 and a quick ratio of 1.39. The stock has a 50-day moving average price of $114.53 and a 200-day moving average price of $117.32. The company has a market capitalization of $162.70 billion, a price-to-earnings ratio of 17.91, a PEG ratio of 1.43 and a beta of 0.11.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, August 6th. The energy producer reported $3.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.90 by $0.34. The firm had revenue of $19.52 billion during the quarter, compared to the consensus estimate of $18.79 billion. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The business’s revenue for the quarter was up 32.4% compared to the same quarter last year. During the same period last year, the business posted $1.42 earnings per share. As a group, analysts forecast that ConocoPhillips will post 10.05 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th will be paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Monday, August 17th. ConocoPhillips’s dividend payout ratio is presently 44.44%.

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.