ConocoPhillips (NYSE:COP) Reaches New 12-Month Low – What’s Next?

ConocoPhillips (NYSE:COP)’s share price hit a new 52-week low during trading on Wednesday . The stock traded as low as $96.27 and last traded at $96.28, with a volume of 6222163 shares changing hands. The stock had previously closed at $98.26.

Analyst Ratings Changes

A number of research firms recently weighed in on COP. Evercore ISI restated an “outperform” rating and issued a $165.00 target price on shares of ConocoPhillips in a research report on Friday, December 6th. Mizuho upgraded shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $132.00 to $134.00 in a report on Monday. Morgan Stanley initiated coverage on shares of ConocoPhillips in a report on Monday. They set an “overweight” rating and a $128.00 target price on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $140.00 price target on shares of ConocoPhillips in a research note on Friday, September 13th. Finally, Scotiabank reduced their price objective on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $139.24.

ConocoPhillips Stock Performance

The company’s 50-day moving average price is $107.21 and its 200 day moving average price is $109.41. The stock has a market capitalization of $110.31 billion, a PE ratio of 11.40, a PEG ratio of 0.83 and a beta of 1.18. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, topping the consensus estimate of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The business had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.97 billion. During the same period last year, the business posted $2.16 earnings per share. ConocoPhillips’s quarterly revenue was down 8.5% compared to the same quarter last year. On average, equities research analysts expect that ConocoPhillips will post 7.77 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 11th were issued a $0.78 dividend. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.12 dividend on an annualized basis and a yield of 3.26%. ConocoPhillips’s dividend payout ratio is 37.10%.

Institutional Investors Weigh In On ConocoPhillips

Several hedge funds have recently bought and sold shares of the business. Values First Advisors Inc. bought a new position in ConocoPhillips during the 3rd quarter valued at approximately $26,000. Stephens Consulting LLC boosted its stake in ConocoPhillips by 69.3% in the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after purchasing an additional 104 shares in the last quarter. Reston Wealth Management LLC purchased a new stake in ConocoPhillips during the 3rd quarter valued at about $31,000. Truvestments Capital LLC purchased a new position in ConocoPhillips in the third quarter worth about $31,000. Finally, Y.D. More Investments Ltd bought a new position in shares of ConocoPhillips in the second quarter worth approximately $35,000. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Company Profile

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.