In today’s recent session, 1.44 million shares of the Conoco Phillips (NYSE:COP) have been traded, and its beta is 1.22. Most recently the company’s share price was $108.39, and it changed around $0.1 or 0.09% from the last close, which brings the market valuation of the company to $125.87B. COP at last check was trading at a discount to its 52-week high of $134.71, offering almost -24.28% off that amount. The share price’s 52-week low was $101.29, which indicates that the recent value has risen by an impressive 6.55% since then. We note from Conoco Phillips’s average daily trading volume that its 10-day average is 6.62 million shares, with the 3-month average coming to 6.11 million.
Conoco Phillips stock received a consensus recommendation rating of Buy, based on a mean score of 1.63. 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 is expected to report earnings per share of 2.03 for the current quarter.
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Conoco Phillips (NYSE:COP) trade information
Instantly COP has been showing a green trend so far today with a performance of 0.09% on intraday trading today. The performance over the last five days has remained in the green territory. The rise to weekly highs of 109.56 on recent trading dayincreased the stock’s daily price by 1.07%. The company’s shares are currently down -6.12% year-to-date, but still up 5.67% over the last five days. On the other hand, Conoco Phillips (NYSE:COP) is -3.00% down in the 30-day period. We can see from the shorts that 20.75 million shares have been sold at a short interest cover period of 3.4 day(s).
The consensus price target as assigned by Wall Street analysts is $132, which translates to bulls needing to increase their stock price by 17.89% from its current value. Analyst projections state that COP is forecast to be at a low of $70 and a high of $166.
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 fallen -10.86 percent over the past six months and at a -6.04% annual growth rate that is well below the industry average of -5.40%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -6.00% in revenue this quarter, and will report a decrease of -11.70% in the next quarter.
Consensus estimates provided by 11 financial analysts predict the company will bring in an average of 14.73B in revenue for the current quarter. 11 analysts expect Conoco Phillips to make 15.03B in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 14.87B and 15.31B respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -0.90%. Forecasts for the next quarter put sales growth at -1.80%.
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 -6.21% in 2024, but the outlook is positive 5.20% per year for the next five years.
COP Dividends
Conoco Phillips’s next quarterly earnings report is expected to be released on 2024-Oct-31. The annual dividend yield of the stock is 2.51 percent and its annual dividend per share was 2.72. It is important to note, however, that the 2.51% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision. The average dividend yield for the past five years averaged 2.63 per year.
Conoco Phillips (NYSE:COP)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 0.10% of Conoco Phillips shares, and 83.63% of them are in the hands of institutional investors. The stock currently has a share float of 83.71%. Conoco Phillips stock is held by 2879.0 institutions, with VANGUARD GROUP INC being the largest institutional investor. By 2024-06-30, it held 9.2468% of the shares, which is about 108.92 million shares worth $12.46 billion.
BLACKROCK INC., with 8.2308% or 96.95 million shares worth $11.09 billion as of 2024-06-30, holds the second largest percentage of outstanding shares.
Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund were the top two Mutual Funds as of Jun 30, 2024. The former held 36.94 shares worth $4.01 billion, making up 3.18% of all outstanding shares. On the other hand, Vanguard 500 Index Fund held roughly 30.02 shares worth around $3.26 billion, which represents about 2.58% of the total shares outstanding.
