ConocoPhillips [COP] Stock trading around $39.03 per share: What’s Next?

ConocoPhillips [NYSE: COP] stock went on a downward path that fall over -3.01% on Tuesday, amounting to a one-week price decrease of less than -8.81%. The company report on December 22, 2020 that ConocoPhillips Announces Significant Oil Discovery in the Norwegian Sea.

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ConocoPhillips (NYSE: COP) announced a new oil discovery in production license 891 on the Slagugle prospect located 14 miles north-northeast of the Heidrun Field in the Norwegian Sea. ConocoPhillips Skandinavia AS is operator of the license with 80 percent working interest. Pandion Energy AS is license partner with 20 percent working interest.

Preliminary estimates place the size of the discovery between 75 million and 200 million barrels of recoverable oil equivalent. Extensive data acquisition and sampling has been carried out in the discovery well 6507/5-10, and future appraisal will be conducted to determine potential flow rates, the reservoir’s ultimate resource recovery and potential development plan.

Over the last 12 months, COP stock dropped by -39.58%. The one-year ConocoPhillips stock forecast points to a potential upside of 19.09. The average equity rating for COP stock is currently 1.90, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $42.69 billion, with 1.08 billion shares outstanding and 1.07 billion shares in the current float. Compared to the average trading volume of 12.30M shares, COP stock reached a trading volume of 9166259 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on ConocoPhillips [COP]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for COP shares is $48.24 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on COP stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Evercore ISI have made an estimate for ConocoPhillips shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on December 17, 2020. While these analysts kept the previous recommendation, BofA Securities dropped their target price from $46 to $44. The new note on the price target was released on November 02, 2020, representing the official price target for ConocoPhillips stock. Previously, the target price had yet another raise to $34, while BofA Securities analysts kept a Buy rating on COP stock.

The Average True Range (ATR) for ConocoPhillips is set at 1.73, with the Price to Sales ratio for COP stock in the period of the last 12 months amounting to 2.04. The Price to Book ratio for the last quarter was 1.37, with the Price to Cash per share for the same quarter was set at 5.96.

COP Stock Performance Analysis:

ConocoPhillips [COP] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.81. With this latest performance, COP shares dropped by -1.56% in over the last four-week period, additionally sinking by -4.78% over the last 6 months – not to mention a drop of -39.58% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for COP stock in for the last two-week period is set at 45.01, with the RSI for the last a single of trading hit 35.71, and the three-weeks RSI is set at 49.14 for ConocoPhillips [COP]. The present Moving Average for the last 50 days of trading for this stock 36.95, while it was recorded at 40.91 for the last single week of trading, and 37.61 for the last 200 days.

Insight into ConocoPhillips Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and ConocoPhillips [COP] shares currently have an operating margin of +21.70 and a Gross Margin at +26.36. ConocoPhillips’s Net Margin is presently recorded at +22.17.

Return on Total Capital for COP is now 14.38, given the latest momentum, and Return on Invested Capital for the company is 14.80. Return on Equity for this stock inclined to 21.49, with Return on Assets sitting at 10.23. When it comes to the capital structure of this company, ConocoPhillips [COP] has a Total Debt to Total Equity ratio set at 45.24. Additionally, COP Total Debt to Total Capital is recorded at 31.15, with Total Debt to Total Assets ending up at 22.45. Long-Term Debt to Equity for the company is recorded at 43.95, with the Long-Term Debt to Total Capital now at 30.26.

Reflecting on the efficiency of the workforce at the company, ConocoPhillips [COP] managed to generate an average of $691,250 per employee. Receivables Turnover for the company is 8.68 with a Total Asset Turnover recorded at a value of 0.46.ConocoPhillips’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.20 and a Current Ratio set at 2.40.

COP Stock EPS

With the latest financial reports released by the company, ConocoPhillips posted 0.76/share EPS, while the average EPS was predicted by analysts to be reported at 0.8/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -5.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for COP. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for ConocoPhillips go to -11.89%.

ConocoPhillips [COP] Insider Position Details

There are presently around $31,009 million, or 76.00% of COP stock, in the hands of institutional investors. The top three institutional holders of COP stocks are: VANGUARD GROUP INC with ownership of 90,235,113, which is approximately -1.645% of the company’s market cap and around 0.04% of the total institutional ownership; BLACKROCK INC., holding 86,389,622 shares of the stock with an approximate value of $3.37 billion in COP stocks shares; and STATE STREET CORP, currently with $2.15 billion in COP stock with ownership of nearly 2.122% of the company’s market capitalization.

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Positions in ConocoPhillips stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 458 institutional holders increased their position in ConocoPhillips [NYSE:COP] by around 57,219,715 shares. Additionally, 823 investors decreased positions by around 51,229,358 shares, while 172 investors held positions by with 686,047,710 shares. The mentioned changes placed institutional holdings at 794,496,783 shares, according to the latest SEC report filing. COP stock had 65 new institutional investments in for a total of 4,799,221 shares, while 185 institutional investors sold positions of 5,460,386 shares during the same period.

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