ConocoPhillips (NYSE:COP) Trading Up 2.8% - Time to Buy?

ConocoPhillips (NYSE:COP - Get Free Report) traded up 2.8% during mid-day trading on Monday . The stock traded as high as $104.62 and last traded at $105.23. 798,906 shares traded 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 Ratings Changes

Several analysts recently weighed in on COP shares. Truist Financial lifted their price target on shares of ConocoPhillips from $138.00 to $139.00 and gave the company a "buy" rating in a report on Monday, January 13th. The Goldman Sachs Group set a $132.00 price target on shares of ConocoPhillips in a research note on Thursday, January 30th. Raymond James cut shares of ConocoPhillips from a "strong-buy" rating to an "outperform" rating and cut their price objective for the stock from $157.00 to $124.00 in a report on Monday, February 10th. Piper Sandler dropped their price target on ConocoPhillips from $135.00 to $114.00 and set an "overweight" rating on the stock in a research report on Thursday, December 19th. Finally, Wells Fargo & Company lowered their price target on ConocoPhillips from $132.00 to $128.00 and set an "overweight" rating for the company in a research report on Monday, February 10th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, ConocoPhillips has a consensus rating of "Moderate Buy" and an average target price of $132.95.

ConocoPhillips Stock Performance

The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The stock has a market cap of $135.02 billion, a PE ratio of 13.62, a P/E/G ratio of 0.79 and a beta of 1.12. The business's 50-day moving average price is $98.96 and its 200-day moving average price is $103.31.

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ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 research analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 2.94%. The ex-dividend date was Friday, February 14th. ConocoPhillips's dividend payout ratio is currently 40.05%.

Institutional Trading of ConocoPhillips

A number of hedge funds have recently added to or reduced their stakes in COP. Albion Financial Group UT raised its holdings in ConocoPhillips by 876.9% in the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer's stock worth $25,000 after purchasing an additional 228 shares during the period. Murphy & Mullick Capital Management Corp acquired a new position in ConocoPhillips during the fourth quarter worth $26,000. Centricity Wealth Management LLC purchased a new position in ConocoPhillips during the fourth quarter valued at $27,000. 10Elms LLP purchased a new stake in shares of ConocoPhillips during the fourth quarter worth about $28,000. Finally, Crowley Wealth Management Inc. acquired a new stake in ConocoPhillips in the 4th quarter worth about $32,000. 82.36% of the stock is 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.