ConocoPhillips (NYSE:COP) Sets New 12-Month High – Should You Buy?

Shares of ConocoPhillips (NYSE:COP) hit a new 52-week high on Wednesday . The stock traded as high as $107.18 and last traded at $106.6270, with a volume of 550839 shares. The stock had previously closed at $104.91.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Barclays lowered their price target on ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating for the company in a research note on Tuesday, October 7th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $98.00 target price on shares of ConocoPhillips in a research report on Tuesday, January 20th. Roth Mkm increased their price target on shares of ConocoPhillips from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, January 23rd. Susquehanna lifted their price objective on shares of ConocoPhillips from $110.00 to $115.00 and gave the company a “positive” rating in a research note on Monday, January 26th. Finally, Royal Bank Of Canada increased their target price on shares of ConocoPhillips from $113.00 to $118.00 and gave the stock an “outperform” rating in a research report on Monday, October 13th. Sixteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $110.96.

ConocoPhillips Stock Up 1.5%

The stock has a market cap of $131.53 billion, a P/E ratio of 15.03 and a beta of 0.32. The company has a current ratio of 1.32, a quick ratio of 1.18 and a debt-to-equity ratio of 0.35. The firm’s fifty day moving average is $95.35 and its 200 day moving average is $93.42.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, November 6th. The energy producer reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.20. ConocoPhillips had a return on equity of 13.64% and a net margin of 14.25%.The business had revenue of $15.03 billion during the quarter, compared to analysts’ expectations of $14.51 billion. During the same quarter in the previous year, the firm earned $1.78 EPS. The firm’s revenue was up 14.1% compared to the same quarter last year. As a group, equities research analysts forecast that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Monday, November 17th were given a $0.84 dividend. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.78. This represents a $3.36 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Monday, November 17th. ConocoPhillips’s dividend payout ratio (DPR) is currently 47.52%.

Insiders Place Their Bets

In related news, CEO Ryan Michael Lance sold 500,708 shares of the company’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $92.50, for a total transaction of $46,315,490.00. Following the completion of the transaction, the chief executive officer directly owned 325,972 shares in the company, valued at $30,152,410. This represents a 60.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William H. Mcraven bought 5,768 shares of ConocoPhillips stock in a transaction that occurred on Monday, November 10th. The stock was bought at an average price of $86.68 per share, with a total value of $499,970.24. Following the purchase, the director owned 5,768 shares of the company’s stock, valued at $499,970.24. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Insiders own 0.24% of the company’s stock.

Institutional Trading of ConocoPhillips

A number of institutional investors and hedge funds have recently modified their holdings of the company. Howard Hughes Medical Institute bought a new stake in ConocoPhillips in the 2nd quarter valued at $25,000. Cloud Capital Management LLC acquired a new stake in shares of ConocoPhillips during the 3rd quarter valued at about $26,000. Strive Asset Management LLC bought a new stake in ConocoPhillips in the third quarter valued at about $28,000. Board of the Pension Protection Fund acquired a new position in ConocoPhillips in the fourth quarter worth about $28,000. Finally, Bogart Wealth LLC raised its position in ConocoPhillips by 136.8% in the second quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock worth $28,000 after purchasing an additional 182 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors.

About ConocoPhillips

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.