ConocoPhillips (NYSE:COP) Trading Up 2.8% – Should You Buy?

ConocoPhillips (NYSE:COP)’s share price shot up 2.8% during trading on Monday . The company traded as high as $104.62 and last traded at $105.23. 798,906 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 6,739,151 shares. The stock had previously closed at $102.37.

Analyst Upgrades and Downgrades

Several brokerages recently commented on COP. The Goldman Sachs Group set a $132.00 price objective on shares of ConocoPhillips in a research report on Thursday, January 30th. UBS Group lowered their price objective on shares of ConocoPhillips from $140.00 to $137.00 and set a “buy” rating for the company in a research note on Wednesday, February 12th. Wells Fargo & Company cut their target price on ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. TD Cowen began coverage on ConocoPhillips in a research report on Friday, January 17th. They set a “buy” rating and a $125.00 price target for the company. Finally, Piper Sandler decreased their target price on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $132.95.

ConocoPhillips Stock Up 2.3 %

The business has a fifty day moving average of $98.95 and a 200 day moving average of $103.28. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. The stock has a market capitalization of $133.22 billion, a price-to-earnings ratio of 13.45, a PEG ratio of 0.79 and a beta of 1.12.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. As a group, equities analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were paid a $0.78 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.98%. ConocoPhillips’s payout ratio is presently 40.05%.

Hedge Funds Weigh In On ConocoPhillips

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Bridgewater Associates LP lifted its holdings in ConocoPhillips by 58.9% during the 3rd quarter. Bridgewater Associates LP now owns 3,079 shares of the energy producer’s stock worth $324,000 after buying an additional 1,141 shares in the last quarter. Semmax Financial Advisors Inc. raised its stake in shares of ConocoPhillips by 10.9% in the third quarter. Semmax Financial Advisors Inc. now owns 10,851 shares of the energy producer’s stock valued at $1,209,000 after acquiring an additional 1,070 shares in the last quarter. True Wealth Design LLC boosted its holdings in ConocoPhillips by 89.3% in the third quarter. True Wealth Design LLC now owns 653 shares of the energy producer’s stock valued at $69,000 after purchasing an additional 308 shares during the period. Erste Asset Management GmbH acquired a new position in ConocoPhillips during the 3rd quarter worth $7,017,000. Finally, FSA Wealth Management LLC purchased a new stake in ConocoPhillips during the 3rd quarter worth about $108,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

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.