Investors Sell Shares of ConocoPhillips (COP) on Strength (COP)
Investors sold shares of ConocoPhillips (NYSE:COP) on strength during trading on Tuesday. $43.01 million flowed into the stock on the tick-up and $61.63 million flowed out of the stock on the tick-down, for a money net flow of $18.62 million out of the stock. Of all stocks tracked, ConocoPhillips had the 0th highest net out-flow for the day. ConocoPhillips traded up $0.59 for the day and closed at $43.22
A number of analysts recently weighed in on the stock. Deutsche Bank AG restated a “buy” rating and set a $62.00 target price on shares of ConocoPhillips in a report on Thursday, June 16th. Jefferies Group reaffirmed a “sell” rating on shares of ConocoPhillips in a research note on Thursday, June 30th. JPMorgan Chase & Co. raised shares of ConocoPhillips from an “underweight” rating to a “neutral” rating and set a $44.00 price objective for the company in a research note on Monday, July 11th. They noted that the move was a valuation call. Goldman Sachs Group Inc. reaffirmed a “neutral” rating on shares of ConocoPhillips in a research note on Wednesday, April 27th. Finally, Argus reaffirmed a “buy” rating on shares of ConocoPhillips in a research note on Tuesday, May 10th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $48.41.
The company’s market cap is $53.53 billion. The stock has a 50 day moving average of $41.69 and a 200-day moving average of $41.65.
ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, July 28th. The company reported ($0.79) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.61) by $0.18. The firm had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $5.38 billion. The firm’s revenue for the quarter was down 35.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.07 EPS. Equities research analysts predict that ConocoPhillips will post ($2.48) earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Monday, July 25th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.31%. The ex-dividend date is Thursday, July 21st.
In related news, VP Ellen Desanctis purchased 5,000 shares of ConocoPhillips stock in a transaction dated Thursday, August 11th. The stock was bought at an average price of $40.50 per share, for a total transaction of $202,500.00. Following the completion of the acquisition, the vice president now directly owns 22,010 shares of the company’s stock, valued at $891,405. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Arjun N. Murti purchased 6,500 shares of ConocoPhillips stock in a transaction dated Monday, August 1st. The stock was bought at an average price of $39.72 per share, with a total value of $258,180.00. Following the acquisition, the director now directly owns 19,000 shares of the company’s stock, valued at $754,680. The disclosure for this purchase can be found here.
Several hedge funds and institutional investors recently added to or reduced their stakes in COP. Advisors Asset Management Inc. boosted its position in ConocoPhillips by 11.3% in the fourth quarter. Advisors Asset Management Inc. now owns 745,901 shares of the company’s stock valued at $34,826,000 after buying an additional 75,660 shares during the period. Dorsey & Whitney Trust CO LLC boosted its position in ConocoPhillips by 11.9% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 41,594 shares of the company’s stock valued at $1,941,000 after buying an additional 4,412 shares during the period. Stack Financial Management Inc raised its stake in shares of ConocoPhillips by 0.6% in the fourth quarter. Stack Financial Management Inc now owns 219,046 shares of the company’s stock worth $10,227,000 after buying an additional 1,210 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of ConocoPhillips by 41.9% in the fourth quarter. BNP Paribas Arbitrage SA now owns 774,603 shares of the company’s stock worth $36,166,000 after buying an additional 228,738 shares in the last quarter. Finally, Bronfman E.L. Rothschild L.P. acquired a new stake in shares of ConocoPhillips during the fourth quarter worth approximately $1,113,000.
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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