Traders Buy ConocoPhillips (COP) on Weakness
Investors purchased shares of ConocoPhillips (NYSE:COP) on weakness during trading on Friday. $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 26th highest net in-flow for the day. ConocoPhillips traded down ($0.45) for the day and closed at $40.60
Several equities analysts recently weighed in on COP shares. Deutsche Bank AG restated a “buy” rating and issued a $62.00 price objective on shares of ConocoPhillips in a report on Thursday, June 16th. Bank of America Corp. restated a “buy” rating and issued a $71.00 price objective on shares of ConocoPhillips in a report on Friday, June 3rd. Zacks Investment Research upgraded shares of ConocoPhillips from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a report on Wednesday, July 13th. Argus restated a “buy” rating on shares of ConocoPhillips in a report on Tuesday, May 10th. Finally, Simmons restated a “neutral” rating on shares of ConocoPhillips in a report on Thursday, August 11th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have given a buy rating to the stock. ConocoPhillips has a consensus rating of “Hold” and a consensus target price of $48.41.
The firm’s market capitalization is $50.68 billion. The company has a 50-day moving average of $41.58 and a 200 day moving average of $41.98.
ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, July 28th. The company reported ($0.79) EPS for the quarter, missing the consensus estimate of ($0.61) by $0.18. During the same quarter in the previous year, the company posted $0.07 EPS. The company had revenue of $5.58 billion for the quarter, compared to analyst estimates of $5.38 billion. ConocoPhillips’s revenue for the quarter was down 35.6% compared to the same quarter last year. On average, equities analysts forecast that ConocoPhillips will post ($2.41) EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Monday, July 25th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, July 21st. This represents a $1.00 annualized dividend and a yield of 2.44%.
In other ConocoPhillips news, Director Arjun N. Murti bought 6,500 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The shares were acquired at an average cost of $39.72 per share, for a total transaction of $258,180.00. Following the transaction, the director now directly owns 19,000 shares in the company, valued at $754,680. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Ellen Desanctis bought 5,000 shares of the business’s stock in a transaction that occurred on Thursday, August 11th. The shares were acquired at an average price of $40.50 per share, for a total transaction of $202,500.00. Following the completion of the transaction, the vice president now owns 22,010 shares in the company, valued at $891,405. The disclosure for this purchase can be found here.
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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