Investors Buy ConocoPhillips (COP) on Weakness
Traders purchased shares of ConocoPhillips (NYSE:COP) on weakness during trading hours on Friday. $320.86 million flowed into the stock on the tick-up and $33.92 million flowed out of the stock on the tick-down, for a money net flow of $286.94 million into the stock. Of all stocks tracked, ConocoPhillips had the 4th highest net in-flow for the day. ConocoPhillips traded down ($0.14) for the day and closed at $52.17
Several equities research analysts have commented on COP shares. Royal Bank of Canada boosted their target price on ConocoPhillips from $58.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, November 9th. BidaskClub cut ConocoPhillips from a “hold” rating to a “sell” rating in a research note on Thursday, August 17th. Credit Suisse Group started coverage on ConocoPhillips in a research note on Monday. They issued a “neutral” rating and a $50.00 target price on the stock. Morgan Stanley boosted their target price on ConocoPhillips from $45.00 to $48.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 18th. Finally, Barclays upped their price objective on ConocoPhillips from $55.00 to $59.00 and gave the stock an “overweight” rating in a research note on Friday, October 27th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $55.47.
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 firm has a market capitalization of $61,784.27, a price-to-earnings ratio of 2,584.00, a P/E/G ratio of 12.46 and a beta of 1.26.
The business also recently announced a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Monday, October 16th were given a dividend of $0.265 per share. The ex-dividend date was Friday, October 13th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.03%. ConocoPhillips’s payout ratio is -57.30%.
In related news, Director Charles E. Bunch bought 2,000 shares of the business’s stock in a transaction dated Monday, December 11th. The stock was purchased at an average cost of $52.06 per share, for a total transaction of $104,120.00. Following the transaction, the director now owns 3,429 shares in the company, valued at approximately $178,513.74. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.82% of the company’s stock.
Several hedge funds have recently made changes to their positions in COP. Financial Management Professionals Inc. raised its position in ConocoPhillips by 0.3% in the second quarter. Financial Management Professionals Inc. now owns 2,294 shares of the energy producer’s stock valued at $100,000 after purchasing an additional 6 shares during the last quarter. First Command Bank raised its position in ConocoPhillips by 9.4% in the second quarter. First Command Bank now owns 2,313 shares of the energy producer’s stock valued at $101,000 after purchasing an additional 199 shares during the last quarter. Krilogy Financial LLC raised its position in ConocoPhillips by 48.6% in the second quarter. Krilogy Financial LLC now owns 2,392 shares of the energy producer’s stock valued at $105,000 after purchasing an additional 782 shares during the last quarter. Westside Investment Management Inc. raised its position in ConocoPhillips by 468.4% in the first quarter. Westside Investment Management Inc. now owns 2,427 shares of the energy producer’s stock valued at $119,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Rocky Mountain Advisers LLC raised its position in ConocoPhillips by 140.2% in the third quarter. Rocky Mountain Advisers LLC now owns 2,392 shares of the energy producer’s stock valued at $120,000 after purchasing an additional 1,396 shares during the last quarter. Institutional investors and hedge funds own 69.87% of the company’s stock.
ConocoPhillips Company Profile
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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