ConocoPhillips (NYSE:COP) Stock Price Up 3.3%

ConocoPhillips (NYSE:COP)’s stock price rose 3.3% during mid-day trading on Wednesday . The company traded as high as $30.87 and last traded at $31.76, approximately 682,272 shares were traded during mid-day trading. A decline of 96% from the average daily volume of 15,836,114 shares. The stock had previously closed at $30.74.

COP has been the subject of a number of research analyst reports. Royal Bank of Canada upgraded shares of ConocoPhillips from a “sector perform” rating to an “outperform” rating and cut their target price for the company from $73.00 to $50.00 in a research note on Monday, March 16th. Atlantic Securities initiated coverage on shares of ConocoPhillips in a research note on Friday, December 13th. They issued an “overweight” rating and a $75.00 target price for the company. Wells Fargo & Co cut their target price on shares of ConocoPhillips from $74.00 to $47.00 and set an “overweight” rating for the company in a research note on Friday, March 20th. Bank of America cut their target price on shares of ConocoPhillips from $80.00 to $76.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Finally, TheStreet cut shares of ConocoPhillips from a “b-” rating to a “c+” rating in a research note on Thursday, March 12th. Three analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $66.05.

The company has a quick ratio of 2.26, a current ratio of 2.40 and a debt-to-equity ratio of 0.42. The firm has a market cap of $33.23 billion, a price-to-earnings ratio of 5.02, a price-to-earnings-growth ratio of 13.90 and a beta of 1.21. The business’s fifty day moving average is $45.77 and its two-hundred day moving average is $56.36.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Tuesday, February 4th. The energy producer reported $0.76 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.05). The company had revenue of $8.14 billion during the quarter, compared to analyst estimates of $7.83 billion. ConocoPhillips had a net margin of 19.60% and a return on equity of 11.84%. During the same period in the prior year, the business earned $1.13 EPS. Research analysts forecast that ConocoPhillips will post -0.02 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Friday, February 14th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 5.24%. The ex-dividend date was Thursday, February 13th. ConocoPhillips’s dividend payout ratio is presently 46.80%.

ConocoPhillips announced that its board has approved a share repurchase program on Tuesday, February 4th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the energy producer to reacquire up to 15.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

In other ConocoPhillips news, SVP Ellen Desanctis sold 41,882 shares of ConocoPhillips stock in a transaction on Friday, February 14th. The shares were sold at an average price of $58.55, for a total transaction of $2,452,191.10. Following the completion of the sale, the senior vice president now owns 32,902 shares of the company’s stock, valued at approximately $1,926,412.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.66% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in COP. Executive Wealth Management LLC grew its holdings in ConocoPhillips by 18.6% during the 3rd quarter. Executive Wealth Management LLC now owns 1,769 shares of the energy producer’s stock worth $100,000 after acquiring an additional 278 shares during the period. Ilmarinen Mutual Pension Insurance Co acquired a new position in shares of ConocoPhillips in the 3rd quarter valued at $6,974,000. Psagot Investment House Ltd. acquired a new position in shares of ConocoPhillips in the 3rd quarter valued at $14,784,000. Voya Investment Management LLC grew its holdings in shares of ConocoPhillips by 12.7% in the 3rd quarter. Voya Investment Management LLC now owns 2,181,874 shares of the energy producer’s stock valued at $124,323,000 after buying an additional 246,595 shares during the period. Finally, Voya Financial Advisors Inc. grew its holdings in shares of ConocoPhillips by 14.5% in the 3rd quarter. Voya Financial Advisors Inc. now owns 23,661 shares of the energy producer’s stock valued at $1,370,000 after buying an additional 2,997 shares during the period. 73.67% of the stock is owned by hedge funds and other institutional investors.

About ConocoPhillips (NYSE:COP)

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the tight oil reservoirs, LNG, oil sands, and other production operations. Its portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.

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