ConocoPhillips (NYSE:COP) Trading Down 5.3% – Time to Sell?

Shares of ConocoPhillips (NYSE:COP) traded down 5.3% during trading on Wednesday . The company traded as low as $134.28 and last traded at $133.7980. Approximately 1,681,605 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 8,202,760 shares. The stock had previously closed at $141.22.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Truist Financial upped their price target on shares of ConocoPhillips from $115.00 to $130.00 and gave the company a “hold” rating in a research note on Monday, August 10th. Argus lifted their price objective on shares of ConocoPhillips from $136.00 to $153.00 and gave the stock a “buy” rating in a research note on Wednesday, August 19th. Seaport Research Partners assumed coverage on shares of ConocoPhillips in a report on Thursday, September 3rd. They set a “neutral” rating on the stock. Wells Fargo & Company upped their target price on ConocoPhillips from $183.00 to $189.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Finally, The Goldman Sachs Group reduced their target price on ConocoPhillips from $144.00 to $138.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $141.24.

ConocoPhillips Price Performance

The company has a quick ratio of 1.39, a current ratio of 1.54 and a debt-to-equity ratio of 0.35. The stock’s 50 day moving average price is $124.65 and its two-hundred day moving average price is $120.80. The stock has a market cap of $161.50 billion, a price-to-earnings ratio of 17.77, a price-to-earnings-growth ratio of 1.44 and a beta of 0.13.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, August 6th. The energy producer reported $3.24 EPS for the quarter, topping analysts’ consensus estimates of $2.90 by $0.34. The firm had revenue of $19.52 billion for the quarter, compared to the consensus estimate of $18.79 billion. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%.The company’s revenue was up 32.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.42 earnings per share. Equities research analysts forecast that ConocoPhillips will post 10.54 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th were given a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 2.5%. The ex-dividend date was Monday, August 17th. ConocoPhillips’s dividend payout ratio is currently 44.44%.

Insider Activity at ConocoPhillips

In other news, SVP Andrew Lundquist sold 9,487 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $135.15, for a total transaction of $1,282,168.05. Following the sale, the senior vice president owned 9,593 shares of the company’s stock, valued at $1,296,493.95. This trade represents a 49.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.09% of the stock is owned by insiders.

Institutional Trading of ConocoPhillips

Hedge funds have recently added to or reduced their stakes in the company. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in shares of ConocoPhillips in the fourth quarter worth about $25,000. Frazier Financial Advisors LLC grew its position in shares of ConocoPhillips by 151.0% during the 1st quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock valued at $32,000 after acquiring an additional 145 shares during the period. Allied Private Wealth LLC acquired a new stake in shares of ConocoPhillips during the 2nd quarter valued at about $32,000. Evergreen Advisors LLC purchased a new position in shares of ConocoPhillips in the 1st quarter valued at about $36,000. Finally, Ballast Advisors LLC purchased a new position in shares of ConocoPhillips in the 1st quarter valued at about $36,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Company Profile

ConocoPhillips (NYSE:COP) is an independent exploration and production company engaged primarily in finding, developing and producing crude oil, natural gas and natural gas liquids. The company sells its production to refiners, utilities, industrial customers and other energy market participants.

Its portfolio includes conventional and unconventional assets, with operations and development activities in the United States, including Alaska and the Lower 48, as well as Canada, Australia, Norway, Qatar and other international locations.