Investors Buy Shares of ConocoPhillips (COP) on Weakness
Traders purchased shares of ConocoPhillips (NYSE:COP) on weakness during trading hours on Thursday. $67.93 million flowed into the stock on the tick-up and $46.20 million flowed out of the stock on the tick-down, for a money net flow of $21.73 million into the stock. Of all stocks tracked, ConocoPhillips had the 45th highest net in-flow for the day. ConocoPhillips traded down ($0.45) for the day and closed at $40.60
A number of research firms have recently commented on COP. Simmons reissued a “neutral” rating on shares of ConocoPhillips in a research note on Thursday, August 11th. Deutsche Bank AG reissued a “buy” rating on shares of ConocoPhillips in a research note on Sunday, July 31st. Zacks Investment Research raised ConocoPhillips from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a research note on Wednesday, July 13th. Jefferies Group reissued a “sell” rating on shares of ConocoPhillips in a research note on Sunday, July 10th. Finally, JPMorgan Chase & Co. raised ConocoPhillips from an “underweight” rating to a “neutral” rating and set a $44.00 price objective on the stock in a research note on Monday, July 11th. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have given a buy rating to the company’s stock. ConocoPhillips presently has a consensus rating of “Hold” and an average price target of $48.41.
The company’s market capitalization is $50.28 billion. The stock has a 50 day moving average of $41.62 and a 200-day moving average of $41.98.
ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, July 28th. The company reported ($0.79) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.61) by $0.18. The firm earned $5.58 billion during the quarter, compared to the consensus estimate of $5.38 billion. The firm’s revenue for the quarter was down 35.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.07 earnings per share. Analysts expect that ConocoPhillips will post ($2.41) earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Monday, July 25th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend was Thursday, July 21st.
In related news, Director Arjun N. Murti purchased 6,500 shares of the business’s stock in a transaction dated Monday, August 1st. The shares were bought at an average price of $39.72 per share, with a total value of $258,180.00. Following the purchase, the director now directly owns 19,000 shares in the company, valued at approximately $754,680. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Ellen Desanctis purchased 5,000 shares of the business’s stock in a transaction dated Thursday, August 11th. The stock was bought at an average cost of $40.50 per share, for a total transaction of $202,500.00. Following the purchase, the vice president now owns 22,010 shares in the company, valued at $891,405. The disclosure for this purchase can be found here.
Other hedge funds and institutional investors recently bought and sold shares of the company. Dorsey & Whitney Trust CO LLC increased 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 worth $1,941,000 after buying an additional 4,412 shares during the period. Flippin Bruce & Porter Inc. increased its stake in shares of ConocoPhillips by 3.4% in the fourth quarter. Flippin Bruce & Porter Inc. now owns 110,126 shares of the company’s stock valued at $5,142,000 after buying an additional 3,576 shares during the last quarter. Bbva Compass Bancshares Inc. increased its stake in shares of ConocoPhillips by 8.4% in the fourth quarter. Bbva Compass Bancshares Inc. now owns 125,464 shares of the company’s stock valued at $5,858,000 after buying an additional 9,775 shares during the last quarter. BNP Paribas Arbitrage SA increased 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 valued at $36,166,000 after buying an additional 228,738 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in shares of ConocoPhillips by 3.1% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 6,122,899 shares of the company’s stock valued at $285,879,000 after buying an additional 184,345 shares during 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.