ConocoPhillips (NYSE:COP) Could Soar to Much Higher Prices in Coming Months – Marketing Sentinel

ConocoPhillips (NYSE:COP) Could Soar to Much Higher Prices in Coming Months

In the latest trading session, 6,581,656 ConocoPhillips (NYSE:COP) shares changed hands as the company’s beta touched 1.77. With the company’s most recent per share price at $48.9 changing hands around -$1.99 or -0.04% at last look, the market valuation stands at $66.42 Billion. COP’s current price is a discount, trading about -25.03% off its 52-week high of $61.14. The share price had its 52-week low at $27.53, which suggests the last value was 43.7% up since then. When we look at ConocoPhillips’s average trading volume, we note the 10-day average is 8.82 Million shares, with the 3-month average coming to 11.3 Million.

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Analysts gave the ConocoPhillips (COP) stock a consensus recommendation rating of Buy, calculated at a mean rating of 1.9. If we narrow down to specifics, the data shows that none out of 30 analysts rate the stock as a Sell, with a further 5 assigning it an Overweight rating. Of the remaining, 2 recommended COP as a Hold, 23 felt it is a Buy and none rated the stock as Underweight. ConocoPhillips’s EPS for the current quarter is expected to be $0.48.

ConocoPhillips (NYSE:COP) trade information

Although COP has turned red as seen in intraday trades today. With action -3.91%, the performance over the past five days has been red. The jump to weekly highs of $53.56 on Wednesday, Apr 14 added 8.69% to the stock’s daily price. The company’s shares are showing year-to-date upside of 0.22%, with the 5-day performance at -0.04% in the red. However, in the 30-day time frame, ConocoPhillips (NYSE:COP) is -0.07% down. Looking at the short shares, we see there were 13.92 Million shares sold at short interest cover period of 1.23 days.

The consensus price target for the stock as assigned by Wall Street analysts is $65.17, meaning bulls need an upside of 33.27% from its recent market value. According to analyst projections, COP’s forecast low is $55 with $80 as the target high. To hit the forecast high, the stock’s price needs a +63.6% upsurge from its latest level, while the stock would need to tank 12.47% for it to hit the projected low.

ConocoPhillips (COP) estimates and forecasts

Data shows that the ConocoPhillips share is not performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot +43.76% over the past 6 months, a -402.06% in annual growth rate that is considerably lower than the industry average of 4.9%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2021 revenue estimates. The rating firms predict current quarter revenue for ConocoPhillips will rise +6.7%, while the growth in revenue is estimated to hit 177.2% for the next quarter. Year-over-year growth is forecast to reach 74% up from the last financial year.

Consensus estimates given by 9 financial analysts project the company’s revenue in the current quarter to hit an average of $7.98 Billion. 9 analysts are of the opinion that ConocoPhillips’s revenue for the quarter ending June 01, 2021 will be $8.5 Billion. The company’s revenue for the corresponding quarters a year ago was $4.81 Billion and $4.02 Billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 65.8%. The estimates for the next quarter sales put growth at 111.7%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 6.8%. The 2021 estimates are for ConocoPhillips earnings to decrease by -139.2%, but the outlook for the next 5-year period is at -8.5% per year.

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COP Dividends

ConocoPhillips is expected to release its next quarterly earnings report around May 04, 2021. The 3.37% annual yield figure for the share gives it an annual dividend of 1.72. It is important to note, however, that the 3.37% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision. During the past 5 years, the average dividend yield was 2.69% per year.

ConocoPhillips (NYSE:COP)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 0.09% of ConocoPhillips shares while 62.74% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 62.79%. There are 1825 institutions holding the ConocoPhillips stock share, with Vanguard Group, Inc. (The) the top institutional holder. As of Dec 30, 2020, the company held 6.34% of the shares, roughly 85.76 Million COP shares worth $3.43 Billion.

Blackrock Inc. holds the second largest percentage of outstanding shares, with 6.31% or 85.3 Million shares worth $3.41 Billion as of Dec 30, 2020.

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Among Mutual Funds, the top two as of Dec 30, 2020 were Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund. With 30102997 shares estimated at $1.2 Billion under it, the former controlled 2.23% of total outstanding shares. On the other hand, Vanguard 500 Index Fund held about 1.58% of the shares, roughly 21.4 Million shares worth around $855.77 Million.

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