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

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

Analyst Upgrades and Downgrades

Several research firms recently commented on COP. Royal Bank of Canada reissued an “outperform” rating and issued a $140.00 price objective on shares of ConocoPhillips in a research note on Friday, September 13th. Scotiabank reduced their price objective on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. Susquehanna increased their price objective on ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research note on Friday, November 1st. UBS Group reduced their price objective on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Finally, Evercore ISI reaffirmed an “outperform” rating and issued a $165.00 target price on shares of ConocoPhillips in a research note on Friday, December 6th. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $139.18.

ConocoPhillips Trading Up 0.1 %

The firm has a market capitalization of $116.27 billion, a PE ratio of 12.01, a PEG ratio of 0.84 and a beta of 1.18. 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 business has a fifty day moving average price of $107.76 and a two-hundred day moving average price of $109.74.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The company had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. During the same period last year, the business posted $2.16 EPS. ConocoPhillips’s revenue for the quarter was down 8.5% on a year-over-year basis. Analysts expect that ConocoPhillips will post 7.77 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 11th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.09%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Friday, November 8th. ConocoPhillips’s dividend payout ratio (DPR) is 37.10%.

Hedge Funds Weigh In On ConocoPhillips

A number of hedge funds and other institutional investors have recently bought and sold shares of COP. Values First Advisors Inc. purchased a new position in ConocoPhillips during the 3rd quarter valued at about $26,000. Stephens Consulting LLC boosted its holdings in 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 acquiring an additional 104 shares during the period. Reston Wealth Management LLC purchased a new position in shares of ConocoPhillips in the 3rd quarter valued at about $31,000. Truvestments Capital LLC purchased a new position in shares of ConocoPhillips in the 3rd quarter valued at about $31,000. Finally, Y.D. More Investments Ltd purchased a new position in shares of ConocoPhillips in the 2nd quarter valued at about $35,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

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.