ConocoPhillips (NYSE:COP) Trading Up 3.3%

ConocoPhillips (NYSE:COP)’s share price was up 3.3% on Wednesday . The stock traded as high as $30.87 and last traded at $31.76, approximately 682,272 shares changed hands during trading. A decline of 96% from the average daily volume of 15,836,114 shares. The stock had previously closed at $30.74.

Several research analysts have recently weighed in on COP shares. Cfra lowered their price objective on shares of ConocoPhillips from $70.00 to $50.00 and set a “buy” rating on the stock in a research note on Monday, March 9th. Morgan Stanley decreased their price target on shares of ConocoPhillips from $79.00 to $40.00 and set an “overweight” rating on the stock in a research note on Monday, March 16th. Raymond James decreased their price target on shares of ConocoPhillips from $63.00 to $48.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 17th. Zacks Investment Research upgraded shares of ConocoPhillips from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a research note on Tuesday, January 14th. Finally, UBS Group upped their price target on shares of ConocoPhillips from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Three analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $66.05.

The stock’s 50-day simple moving average is $45.77 and its 200-day simple moving average is $56.36. The stock has a market cap of $33.23 billion, a price-to-earnings ratio of 5.02, a price-to-earnings-growth ratio of 13.90 and a beta of 1.21. The company has a current ratio of 2.40, a quick ratio of 2.26 and a debt-to-equity ratio of 0.42.

ConocoPhillips (NYSE:COP) last announced its earnings results on Tuesday, February 4th. The energy producer reported $0.76 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.81 by ($0.05). ConocoPhillips had a return on equity of 11.84% and a net margin of 19.60%. The business had revenue of $8.14 billion for the quarter, compared to analyst estimates of $7.83 billion. During the same quarter in the previous year, the company earned $1.13 EPS. On average, equities research analysts forecast that ConocoPhillips will post -0.02 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Friday, February 14th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.24%. ConocoPhillips’s payout ratio is presently 46.80%.

ConocoPhillips declared that its Board of Directors has initiated a share buyback program on Tuesday, February 4th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the energy producer to buy up to 15.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

In other ConocoPhillips news, SVP Ellen Desanctis sold 41,882 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $58.55, for a total transaction of $2,452,191.10. Following the transaction, the senior vice president now owns 32,902 shares in the company, valued at approximately $1,926,412.10. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.66% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Capital World Investors lifted its holdings in shares of ConocoPhillips by 7.6% during the 4th quarter. Capital World Investors now owns 19,480,517 shares of the energy producer’s stock worth $1,266,817,000 after acquiring an additional 1,379,501 shares during the period. FMR LLC lifted its holdings in shares of ConocoPhillips by 16.0% during the 4th quarter. FMR LLC now owns 19,477,396 shares of the energy producer’s stock worth $1,266,615,000 after acquiring an additional 2,689,765 shares during the period. Capital International Investors lifted its holdings in shares of ConocoPhillips by 8.0% during the 4th quarter. Capital International Investors now owns 18,108,471 shares of the energy producer’s stock worth $1,177,594,000 after acquiring an additional 1,345,285 shares during the period. Geode Capital Management LLC lifted its holdings in shares of ConocoPhillips by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 16,373,044 shares of the energy producer’s stock worth $1,062,524,000 after acquiring an additional 269,662 shares during the period. Finally, Macquarie Group Ltd. lifted its holdings in shares of ConocoPhillips by 13.3% during the 4th quarter. Macquarie Group Ltd. now owns 14,649,021 shares of the energy producer’s stock worth $952,626,000 after acquiring an additional 1,715,395 shares during the period. 73.67% of the stock is owned by institutional investors.

ConocoPhillips Company Profile (NYSE:COP)

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the tight oil reservoirs, LNG, oil sands, and other production operations. Its portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.

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