ConocoPhillips (NYSE:COP) Reaches New 52-Week Low – Here’s Why

ConocoPhillips (NYSE:COP) reached a new 52-week low during trading on Wednesday . The stock traded as low as $96.27 and last traded at $96.28, with a volume of 6222163 shares trading hands. The stock had previously closed at $98.26.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Susquehanna upped their price objective on ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research note on Friday, November 1st. BMO Capital Markets raised their price objective on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. JPMorgan Chase & Co. raised shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $120.00 to $123.00 in a report on Thursday, December 5th. Morgan Stanley began coverage on ConocoPhillips in a report on Monday. They set an “overweight” rating and a $128.00 price target on the stock. Finally, Barclays upped their price objective on ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $139.24.

ConocoPhillips Trading Down 2.5 %

The stock’s fifty day moving average is $107.21 and its 200 day moving average is $109.41. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. The stock has a market cap of $110.31 billion, a P/E ratio of 11.40, a P/E/G ratio of 0.83 and a beta of 1.18.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.10. The firm had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The company’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.16 EPS. As a group, equities research analysts predict that ConocoPhillips will post 7.77 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.26%. The ex-dividend date of this dividend was Friday, November 8th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is 37.10%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of COP. Vicus Capital increased its holdings in ConocoPhillips by 3.7% during the 2nd quarter. Vicus Capital now owns 2,637 shares of the energy producer’s stock worth $302,000 after purchasing an additional 94 shares during the period. Montag A & Associates Inc. increased its stake in shares of ConocoPhillips by 2.5% during the second quarter. Montag A & Associates Inc. now owns 3,900 shares of the energy producer’s stock worth $446,000 after buying an additional 96 shares during the period. Excalibur Management Corp lifted its stake in ConocoPhillips by 2.4% in the second quarter. Excalibur Management Corp now owns 4,037 shares of the energy producer’s stock worth $462,000 after acquiring an additional 96 shares during the last quarter. Cypress Capital Group grew its holdings in ConocoPhillips by 0.5% during the 3rd quarter. Cypress Capital Group now owns 18,790 shares of the energy producer’s stock worth $1,978,000 after acquiring an additional 96 shares in the last quarter. Finally, Bank OZK raised its holdings in shares of ConocoPhillips by 1.6% in the 2nd quarter. Bank OZK now owns 6,251 shares of the energy producer’s stock valued at $715,000 after purchasing an additional 97 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

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.