ConocoPhillips (NYSE:COP) Reaches New 52-Week High at $63.64

ConocoPhillips (NYSE:COP) shares hit a new 52-week high on Thursday . The company traded as high as $63.64 and last traded at $63.62, with a volume of 327164 shares changing hands. The stock had previously closed at $62.26.

COP has been the topic of a number of research reports. Piper Sandler lifted their price target on shares of ConocoPhillips from $69.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, July 23rd. They noted that the move was a valuation call. KeyCorp boosted their price objective on shares of ConocoPhillips from $68.00 to $69.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 21st. Mizuho boosted their price objective on shares of ConocoPhillips from $82.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, July 15th. boosted their price objective on shares of ConocoPhillips from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, July 1st. Finally, Sanford C. Bernstein boosted their price objective on shares of ConocoPhillips from $63.00 to $80.00 and gave the stock an “outperform” rating in a research report on Monday, June 21st. Two investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, ConocoPhillips presently has an average rating of “Buy” and a consensus target price of $72.43.

The company has a quick ratio of 1.97, a current ratio of 2.11 and a debt-to-equity ratio of 0.42. The company’s 50 day moving average is $56.51 and its 200 day moving average is $56.27. The firm has a market capitalization of $87.07 billion, a price-to-earnings ratio of 56.05, a P/E/G ratio of 1.56 and a beta of 1.77.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Tuesday, August 3rd. The energy producer reported $1.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.17. ConocoPhillips had a net margin of 5.93% and a return on equity of 5.64%. The business had revenue of $10.21 billion for the quarter, compared to the consensus estimate of $10.44 billion. During the same period in the prior year, the company posted ($0.92) earnings per share. On average, analysts expect that ConocoPhillips will post 4.79 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 1st. Investors of record on Thursday, October 28th will be paid a $0.46 dividend. The ex-dividend date is Wednesday, October 27th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.43. This represents a $1.84 annualized dividend and a dividend yield of 2.83%. ConocoPhillips’s dividend payout ratio is -177.32%.

In related news, Director Jody Freeman sold 3,334 shares of the company’s stock in a transaction dated Monday, June 28th. The shares were sold at an average price of $59.65, for a total transaction of $198,873.10. Following the completion of the sale, the director now owns 8,251 shares of the company’s stock, valued at $492,172.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director R A. Walker bought 18,000 shares of the company’s stock in a transaction dated Monday, August 9th. The stock was bought at an average cost of $55.50 per share, with a total value of $999,000.00. The disclosure for this purchase can be found here. Corporate insiders own 0.08% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Harbour Investments Inc. bought a new position in shares of ConocoPhillips in the first quarter worth about $30,000. Joseph P. Lucia & Associates LLC bought a new position in shares of ConocoPhillips in the second quarter worth about $30,000. Anfield Capital Management LLC bought a new position in shares of ConocoPhillips in the second quarter worth about $32,000. Concord Wealth Partners lifted its holdings in shares of ConocoPhillips by 41.0% in the first quarter. Concord Wealth Partners now owns 640 shares of the energy producer’s stock worth $34,000 after acquiring an additional 186 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of ConocoPhillips in the first quarter worth about $35,000. 78.47% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Company Profile (NYSE:COP)

ConocoPhillips engages in the exploration, production, transportation and marketing of crude oil, bitumen, natural gas, natural gas liquids, and liquefied natural gas on a worldwide basis. It operates through the following geographical segments: Alaska; Lower 48; Canada; Europe, Middle East and North Africa; Asia Pacific; and Other International.

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