ConocoPhillips (NYSE:COP) Reaches New 1-Year Low – Should You Sell?

ConocoPhillips (NYSE:COP)’s share price hit a new 52-week low on Friday . The company traded as low as $86.74 and last traded at $89.08, with a volume of 3703211 shares trading hands. The stock had previously closed at $95.25.

Wall Street Analyst Weigh In

COP has been the topic of several recent research reports. TD Cowen initiated coverage on shares of ConocoPhillips in a research report on Friday, January 17th. They set a “buy” rating and a $125.00 target price on the stock. Mizuho upgraded ConocoPhillips from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $132.00 to $134.00 in a report on Monday, December 16th. Morgan Stanley decreased their target price on ConocoPhillips from $131.00 to $126.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. Piper Sandler dropped their price objective on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Finally, UBS Group lowered their price target on ConocoPhillips from $140.00 to $137.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ConocoPhillips currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.95.

ConocoPhillips Stock Down 9.5 %

The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. The business has a fifty day simple moving average of $98.53 and a 200 day simple moving average of $103.10. The firm has a market cap of $108.95 billion, a price-to-earnings ratio of 11.06, a PEG ratio of 0.79 and a beta of 0.83.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share (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, equities analysts forecast that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date was Friday, February 14th. ConocoPhillips’s dividend payout ratio is presently 40.05%.

Hedge Funds Weigh In On ConocoPhillips

Several hedge funds have recently added to or reduced their stakes in the stock. Albion Financial Group UT grew its position in ConocoPhillips by 876.9% during 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 last quarter. Murphy & Mullick Capital Management Corp acquired a new position in ConocoPhillips during the fourth quarter worth about $26,000. Centricity Wealth Management LLC acquired a new stake in ConocoPhillips during the 4th quarter valued at $27,000. 10Elms LLP acquired a new position in shares of ConocoPhillips in the fourth quarter valued at approximately $28,000. Finally, Crowley Wealth Management Inc. purchased a new position in ConocoPhillips during the fourth quarter worth about $32,000. 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.