Investors Buy ConocoPhillips (COP) on Weakness
Traders bought shares of ConocoPhillips (NYSE:COP) on weakness during trading on Thursday. $74.30 million flowed into the stock on the tick-up and $41.04 million flowed out of the stock on the tick-down, for a money net flow of $33.26 million into the stock. Of all equities tracked, ConocoPhillips had the 27th highest net in-flow for the day. ConocoPhillips traded down ($0.10) for the day and closed at $59.76
Several research analysts recently issued reports on the company. Scotiabank reaffirmed a “buy” rating and set a $53.00 target price on shares of ConocoPhillips in a research report on Friday, September 29th. Zacks Investment Research raised ConocoPhillips from a “hold” rating to a “strong-buy” rating and set a $66.00 target price for the company in a research report on Wednesday, January 10th. Cowen set a $70.00 target price on ConocoPhillips and gave the stock a “buy” rating in a research report on Thursday. Barclays reaffirmed an “overweight” rating and set a $55.00 target price (up from $51.00) on shares of ConocoPhillips in a research report on Tuesday, October 10th. Finally, Macquarie assumed coverage on ConocoPhillips in a research report on Wednesday. They set an “outperform” rating for the company. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $56.35.
The company has a quick ratio of 2.23, a current ratio of 2.38 and a debt-to-equity ratio of 0.64. The firm has a market cap of $71,430.00, a PE ratio of -30.03, a price-to-earnings-growth ratio of 2.59 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. research analysts anticipate that ConocoPhillips will post 0.57 EPS for the current fiscal year.
In other ConocoPhillips news, Director Charles E. Bunch acquired 2,000 shares of the stock in a transaction dated Monday, December 11th. The stock was purchased at an average cost of $52.06 per share, with a total value 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 filing with the SEC, which is available at this link. Company insiders own 0.82% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. BlackRock Inc. grew its stake in shares of ConocoPhillips by 7.8% in the 2nd quarter. BlackRock Inc. now owns 85,821,694 shares of the energy producer’s stock valued at $3,772,723,000 after buying an additional 6,197,896 shares during the period. AJO LP grew its stake in shares of ConocoPhillips by 3,000.7% in the 2nd quarter. AJO LP now owns 2,988,018 shares of the energy producer’s stock valued at $131,353,000 after buying an additional 2,891,652 shares during the period. Franklin Resources Inc. grew its stake in shares of ConocoPhillips by 21.6% in the 2nd quarter. Franklin Resources Inc. now owns 12,025,415 shares of the energy producer’s stock valued at $528,635,000 after buying an additional 2,134,292 shares during the period. Brandywine Global Investment Management LLC grew its stake in shares of ConocoPhillips by 183.5% in the 2nd quarter. Brandywine Global Investment Management LLC now owns 3,138,796 shares of the energy producer’s stock valued at $137,982,000 after buying an additional 2,031,830 shares during the period. Finally, Eaton Vance Management grew its stake in shares of ConocoPhillips by 49.2% in the 2nd quarter. Eaton Vance Management now owns 5,395,400 shares of the energy producer’s stock valued at $237,182,000 after buying an additional 1,780,223 shares during the period. 69.73% of the stock is owned by hedge funds and other institutional investors.
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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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