ConocoPhillips (NYSE:COP) Stock Price Down 4.7% – What’s Next?

Shares of ConocoPhillips (NYSE:COP) traded down 4.7% on Monday . The company traded as low as $106.32 and last traded at $106.55. 5,779,918 shares were traded during trading, a decline of 2% from the average session volume of 5,903,721 shares. The stock had previously closed at $111.75.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on COP shares. UBS Group decreased their price target on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Susquehanna boosted their target price on ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research report on Friday, November 1st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $140.00 price target on shares of ConocoPhillips in a report on Friday, September 13th. Mizuho boosted their price objective on ConocoPhillips from $129.00 to $132.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Finally, Truist Financial decreased their price objective on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Six equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $137.63.

ConocoPhillips Price Performance

The firm has a fifty day moving average of $108.91 and a two-hundred day moving average of $111.23. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $122.03 billion, a PE ratio of 13.29, a PEG ratio of 0.91 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.10. The firm had revenue of $13.60 billion for the quarter, compared to analysts’ expectations of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The business’s revenue was down 8.5% on a year-over-year basis. During the same quarter last year, the business earned $2.16 earnings per share. Research analysts anticipate that ConocoPhillips will post 7.78 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 11th will be issued a dividend of $0.78 per share. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date is Friday, November 8th. ConocoPhillips’s dividend payout ratio is currently 37.10%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Values First Advisors Inc. purchased a new position in shares of ConocoPhillips during the third quarter valued at approximately $26,000. Stephens Consulting LLC raised its holdings 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 shares of ConocoPhillips in the 3rd quarter worth about $31,000. Truvestments Capital LLC bought a new stake in shares of ConocoPhillips during the 3rd quarter valued at about $31,000. Finally, Y.D. More Investments Ltd purchased a new position in shares of ConocoPhillips during the second quarter valued at about $35,000. 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.