Insider Buying: ConocoPhillips (COP) Director Acquires $104,120.00 in Stock
ConocoPhillips (NYSE:COP) Director Charles E. Bunch purchased 2,000 shares of the company’s stock in a transaction dated Monday, December 11th. The stock was purchased at an average price of $52.06 per share, with a total value of $104,120.00. Following the completion of the purchase, the director now directly owns 3,429 shares in the company, valued at approximately $178,513.74. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
ConocoPhillips (NYSE COP) traded down $0.28 during mid-day trading on Thursday, hitting $51.68. The stock had a trading volume of 4,906,700 shares, compared to its average volume of 7,082,926. ConocoPhillips has a 1 year low of $42.26 and a 1 year high of $54.22. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.23 and a current ratio of 2.38. The company has a market cap of $62,119.01, a price-to-earnings ratio of 2,598.00, a PEG ratio of 12.53 and a beta of 1.26.
ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, October 26th. The energy producer reported $0.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.08. ConocoPhillips had a positive return on equity of 0.12% and a negative net margin of 7.32%. The firm had revenue of $7.20 billion during the quarter, compared to analyst estimates of $6.55 billion. During the same period last year, the company posted ($0.66) EPS. equities analysts forecast that ConocoPhillips will post 0.55 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Monday, October 16th were given a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 2.05%. The ex-dividend date was Friday, October 13th. ConocoPhillips’s dividend payout ratio (DPR) is presently -57.30%.
A number of research analysts have recently commented on COP shares. Scotiabank reiterated a “buy” rating and issued a $52.00 price target on shares of ConocoPhillips in a research note on Friday, September 8th. J P Morgan Chase & Co reiterated an “overweight” rating on shares of ConocoPhillips in a research note on Saturday, September 16th. Royal Bank of Canada increased their price target on ConocoPhillips from $58.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, November 9th. Jefferies Group set a $54.00 price target on ConocoPhillips and gave the company a “buy” rating in a research note on Tuesday, August 29th. Finally, Barclays raised their target price on ConocoPhillips from $55.00 to $59.00 and gave the stock an “overweight” rating in a research report on Friday, October 27th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $55.47.
Hedge funds have recently bought and sold shares of the company. Shelton Capital Management grew its stake in shares of ConocoPhillips by 1.4% in the 3rd quarter. Shelton Capital Management now owns 93,456 shares of the energy producer’s stock valued at $4,677,000 after buying an additional 1,301 shares during the period. Chicago Partners Investment Group LLC grew its stake in shares of ConocoPhillips by 27.0% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 6,004 shares of the energy producer’s stock valued at $301,000 after buying an additional 1,278 shares during the period. Steward Partners Investment Advisory LLC acquired a new stake in shares of ConocoPhillips in the 3rd quarter valued at about $1,528,000. Belpointe Asset Management LLC acquired a new stake in shares of ConocoPhillips in the 3rd quarter valued at about $258,000. Finally, Yellowstone Partners LLC acquired a new stake in shares of ConocoPhillips in the 3rd quarter valued at about $752,000. 69.87% of the stock is owned by hedge funds and other institutional investors.
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ConocoPhillips is an independent exploration and production company. The Company explores for, produces, transports and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG) and natural gas liquids. The Company operates through five segments: Alaska, Lower 48, Canada, Europe and North Africa, Asia Pacific and Middle East, and Other International.
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