ConocoPhillips (NYSE:COP) Shares Up 1.3% - Still a Buy?

ConocoPhillips (NYSE:COP - Get Free Report)'s share price traded up 1.3% during trading on Thursday . The company traded as high as $91.02 and last traded at $91.08. 840,846 shares changed hands during trading, a decline of 88% from the average session volume of 7,114,323 shares. The stock had previously closed at $89.93.

Wall Street Analyst Weigh In

Several analysts have issued reports on COP shares. Morgan Stanley restated an "overweight" rating and issued a $116.00 target price on shares of ConocoPhillips in a report on Tuesday, April 15th. JPMorgan Chase & Co. cut their price objective on shares of ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. UBS Group decreased their target price on shares of ConocoPhillips from $116.00 to $111.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. TD Cowen initiated coverage on shares of ConocoPhillips in a report on Friday, January 17th. They set a "buy" rating and a $125.00 price target for the company. Finally, Barclays decreased their price objective on ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating on the stock in a report on Wednesday. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $126.89.

ConocoPhillips Trading Down 0.0 %

The company's 50 day moving average price is $94.56 and its 200 day moving average price is $100.59. The firm has a market cap of $116.03 billion, a PE ratio of 11.78, a price-to-earnings-growth ratio of 0.79 and a beta of 0.83. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 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, analysts forecast that ConocoPhillips will post 8.16 EPS 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 issued a dividend of $0.78 per share. The ex-dividend date was Friday, February 14th. This represents a $3.12 annualized dividend and a yield of 3.40%. ConocoPhillips's dividend payout ratio (DPR) is 40.05%.

Hedge Funds Weigh In On ConocoPhillips

Several hedge funds and other institutional investors have recently made changes to their positions in COP. Morse Asset Management Inc purchased a new stake in shares of ConocoPhillips during the 3rd quarter worth $805,000. Anchor Investment Management LLC raised its stake in ConocoPhillips by 5.5% in the third quarter. Anchor Investment Management LLC now owns 11,322 shares of the energy producer's stock valued at $1,192,000 after buying an additional 589 shares in the last quarter. Fulcrum Equity Management lifted its holdings in ConocoPhillips by 24.1% during the 3rd quarter. Fulcrum Equity Management now owns 5,939 shares of the energy producer's stock worth $625,000 after buying an additional 1,155 shares during the last quarter. World Investment Advisors LLC boosted its position in shares of ConocoPhillips by 746.7% during the 3rd quarter. World Investment Advisors LLC now owns 43,928 shares of the energy producer's stock worth $4,625,000 after acquiring an additional 38,740 shares in the last quarter. Finally, Arvest Bank Trust Division purchased a new position in shares of ConocoPhillips in the 3rd quarter valued at about $11,549,000. 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.