Investors Buy Shares of ConocoPhillips (COP) on Weakness
Investors purchased shares of ConocoPhillips (NYSE:COP) on weakness during trading 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 equities research analysts have issued reports on COP shares. Argus reissued a “buy” rating on shares of ConocoPhillips in a research note on Tuesday, May 10th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of ConocoPhillips in a research note on Monday, May 16th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $62.00 price objective on shares of ConocoPhillips in a research note on Monday, May 16th. Bank of America Corp. reaffirmed a “buy” rating and issued a $71.00 price objective on shares of ConocoPhillips in a research note on Friday, June 3rd. Finally, Jefferies Group reaffirmed a “sell” rating on shares of ConocoPhillips in a research note on Thursday, June 30th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have issued a buy rating to the company. ConocoPhillips currently has an average rating of “Hold” and a consensus target price of $48.41.
The firm’s 50 day moving average price is $41.58 and its 200-day moving average price is $41.98. The firm’s market cap is $50.68 billion.
ConocoPhillips (NYSE:COP) last announced 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. During the same period last year, the firm earned $0.07 EPS. The company had revenue of $5.58 billion for the quarter, compared to analyst estimates of $5.38 billion. The company’s revenue was down 35.6% compared to the same quarter last year. Equities analysts expect that ConocoPhillips will post ($2.41) EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Monday, July 25th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date was Thursday, July 21st.
In other news, Director Arjun N. Murti purchased 6,500 shares of the business’s stock in a transaction on Monday, August 1st. The stock was purchased at an average price of $39.72 per share, for a total transaction of $258,180.00. Following the completion of the purchase, the director now directly owns 19,000 shares in the company, valued at approximately $754,680. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Ellen Desanctis purchased 5,000 shares of the business’s stock in a transaction on Thursday, August 11th. The stock was purchased at an average price of $40.50 per share, with a total value of $202,500.00. Following the purchase, the vice president now owns 22,010 shares of the company’s stock, valued at $891,405. The disclosure for this purchase can be found here.
A hedge fund recently raised its stake in ConocoPhillips stock. BNP Paribas Arbitrage SA boosted its position in shares of ConocoPhillips (NYSE:COP) by 41.9% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 774,603 shares of the company’s stock after buying an additional 228,738 shares during the period. BNP Paribas Arbitrage SA owned 0.06% of ConocoPhillips worth $36,166,000 as of its most recent SEC filing.
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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