ConocoPhillips (NYSE:COP) Hits New 52-Week Low – Here’s What Happened

ConocoPhillips (NYSE:COP)’s share price reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $101.19 and last traded at $101.31, with a volume of 2862625 shares changing hands. The stock had previously closed at $102.19.

Analysts Set New Price Targets

A number of analysts have recently issued reports on COP shares. JPMorgan Chase & Co. raised shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $120.00 to $123.00 in a research note on Thursday, December 5th. Scotiabank lowered their target price on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. Royal Bank of Canada reissued an “outperform” rating and set a $140.00 target price on shares of ConocoPhillips in a research note on Friday, September 13th. UBS Group decreased their price objective on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Finally, Truist Financial decreased their price objective on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a report on Monday, September 30th. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, ConocoPhillips currently has a consensus rating of “Moderate Buy” and a consensus price target of $139.18.

ConocoPhillips Trading Up 0.1 %

The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. The company’s fifty day moving average price is $107.76 and its 200-day moving average price is $109.74. The stock has a market cap of $116.27 billion, a price-to-earnings ratio of 12.01, a P/E/G ratio of 0.84 and a beta of 1.18.

ConocoPhillips (NYSE:COP) last released 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 return on equity of 19.53% and a net margin of 17.29%. The business had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. During the same quarter in the prior year, the firm posted $2.16 EPS. The business’s quarterly revenue was down 8.5% compared to the same quarter last year. On average, research analysts expect that ConocoPhillips will post 7.77 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 11th were given a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.09%. The ex-dividend date was Friday, November 8th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio is currently 37.10%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Values First Advisors Inc. purchased a new position in shares of ConocoPhillips during the 3rd quarter valued at approximately $26,000. Stephens Consulting LLC lifted its position in shares of ConocoPhillips by 69.3% during the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after buying an additional 104 shares in the last quarter. Reston Wealth Management LLC purchased a new position in shares of ConocoPhillips during the 3rd quarter valued at approximately $31,000. Truvestments Capital LLC purchased a new position in shares of ConocoPhillips during the 3rd quarter valued at approximately $31,000. Finally, Y.D. More Investments Ltd purchased a new position in shares of ConocoPhillips during the 2nd quarter valued at approximately $35,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

About ConocoPhillips

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.