ConocoPhillips (COP) Shares Gap Up to $40.60
Shares of ConocoPhillips (NYSE:COP) gapped up before the market opened on Monday . The stock had previously closed at $40.33, but opened at $40.60. ConocoPhillips shares last traded at $41.60, with a volume of 5,371,550 shares changing hands.
A number of analysts have commented on COP shares. Citigroup Inc. upped their price objective on shares of ConocoPhillips from $50.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, April 29th. Jefferies Group reaffirmed a “sell” rating on shares of ConocoPhillips in a research note on Thursday, June 30th. Goldman Sachs Group Inc. reaffirmed a “neutral” rating on shares of ConocoPhillips in a research note on Wednesday, April 27th. Bank of America Corp. reaffirmed a “buy” rating and set a $71.00 price objective on shares of ConocoPhillips in a research note on Friday, June 3rd. Finally, Argus reaffirmed a “buy” rating on shares of ConocoPhillips in a research note on Tuesday, May 10th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have assigned a buy rating to the company. ConocoPhillips currently has an average rating of “Hold” and a consensus price target of $48.41.
The company has a 50-day moving average of $42.03 and a 200 day moving average of $41.19. The stock’s market capitalization is $51.47 billion.
ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, July 28th. The company reported ($0.79) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.61) by $0.18. The business earned $5.58 billion during the quarter, compared to analysts’ expectations of $5.38 billion. The business’s quarterly revenue was down 35.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.07 EPS. Equities analysts predict that ConocoPhillips will post ($2.41) EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Monday, July 25th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend is Thursday, July 21st.
In other news, Director Arjun N. Murti bought 6,500 shares of the business’s stock in a transaction on Monday, August 1st. The shares were purchased at an average price of $39.72 per share, for a total transaction of $258,180.00. Following the purchase, the director now owns 19,000 shares of the company’s stock, valued at approximately $754,680. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.
Other large investors have recently added to or reduced their stakes in the company. Bronfman E.L. Rothschild L.P. purchased a new stake in ConocoPhillips during the fourth quarter valued at approximately $1,113,000. Ashfield Capital Partners LLC boosted its stake in shares of ConocoPhillips by 11.5% in the fourth quarter. Ashfield Capital Partners LLC now owns 28,909 shares of the company’s stock worth $1,350,000 after buying an additional 2,983 shares in the last quarter. Fort Washington Investment Advisors Inc. OH boosted its stake in shares of ConocoPhillips by 4.4% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 30,322 shares of the company’s stock worth $1,416,000 after buying an additional 1,275 shares in the last quarter. Cypress Asset Management Inc. TX boosted its stake in shares of ConocoPhillips by 4.0% in the fourth quarter. Cypress Asset Management Inc. TX now owns 33,769 shares of the company’s stock worth $1,577,000 after buying an additional 1,300 shares in the last quarter. Finally, Smith Salley & Associates boosted its stake in shares of ConocoPhillips by 3.7% in the fourth quarter. Smith Salley & Associates now owns 33,973 shares of the company’s stock worth $1,586,000 after buying an additional 1,227 shares in the last quarter.
ConocoPhillips (ConocoPhillips) is an independent exploration and production company. The Company explores for, produces, transports and markets crude oil, bitumen, natural gas and liquefied natural gas (LNG). The Company operates through six operating segments, which are primarily defined by geographic region: Alaska; Lower 48; Canada; Europe and North Africa; Asia Pacific and Middle East, and Other International.
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