Why Conoco Phillips (NYSE: COP) Stock Should Not Be Taken For Granted By Investors In 2024

In the last trading session, 3.77 million shares of the Conoco Phillips (NYSE:COP) were traded, and its beta was 1.24. Most recently the company’s share price was $129.84, and it changed around $0.51 or 0.39% from the last close, which brings the market valuation of the company to $152.06B. COP currently trades at a discount to its 52-week high of $135.18, offering almost -4.11% off that amount. The share price’s 52-week low was $94.48, which indicates that the current value has risen by an impressive 27.23% since then. We note from Conoco Phillips’s average daily trading volume that its 3-month average coming to 5.43 million.

Conoco Phillips stock received a consensus recommendation rating of Buy, based on a mean score of 1.67. If we narrow it down even further, the data shows that 0 out of 21 analysts rate the stock as a Sell; another 6 rate it as Overweight. Among the rest, 6 recommended COP as a Hold, whereas 9 deemed it a Buy, and 0 rated it as Underweight.

Conoco Phillips (NYSE:COP) trade information

Instantly COP has showed a green trend with a performance of 0.39% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently up 12.07% year-to-date, but still up 0.24% over the last five days. On the other hand, Conoco Phillips (NYSE:COP) is 5.54% up in the 30-day period.

The consensus price target as assigned by Wall Street analysts is $119.86, which translates to bulls needing to decrease their stock price by -8.33% from its current value. Analyst projections state that COP is forecast to be at a low of $70 and a high of $157.

Conoco Phillips (COP) estimates and forecasts

Conoco Phillips share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 4.85 percent over the past six months and at a 7.98% annual growth rate that is well below the industry average of 12.00%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 11.22%. Conoco Phillips earnings are expected to increase by 2.76% in 2024, but the outlook is negative -10.12% per year for the next five years.

COP Dividends

Conoco Phillips’s next quarterly earnings report is expected to be released in May. The annual dividend yield of the stock is 1.68 percent and its annual dividend per share was 2.18. It is important to note, however, that the 1.68% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.