Investors Sell Shares of ConocoPhillips (COP) on Strength (COP)
Traders sold shares of ConocoPhillips (NYSE:COP) on strength during trading on Thursday. $53.52 million flowed into the stock on the tick-up and $105.62 million flowed out of the stock on the tick-down, for a money net flow of $52.10 million out of the stock. Of all stocks tracked, ConocoPhillips had the 0th highest net out-flow for the day. ConocoPhillips traded up $0.79 for the day and closed at $41.39
COP has been the topic of a number of recent research reports. Deutsche Bank AG reissued a “buy” rating and issued a $62.00 target price on shares of ConocoPhillips in a report on Thursday, June 16th. Bank of America Corp. reissued a “buy” rating and issued a $71.00 target price on shares of ConocoPhillips in a report on Friday, June 3rd. Argus reissued a “buy” rating on shares of ConocoPhillips in a report on Tuesday, May 10th. Citigroup Inc. boosted their target price on ConocoPhillips from $50.00 to $65.00 and gave the company a “buy” rating in a report on Friday, April 29th. Finally, Zacks Investment Research raised ConocoPhillips from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a report on Wednesday, July 13th. Three investment 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. The stock presently has a consensus rating of “Hold” and an average target price of $48.41.
The stock’s market capitalization is $51.26 billion. The company has a 50 day moving average of $41.74 and a 200 day moving average of $41.21.
ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, July 28th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.07 earnings per share. Equities research analysts anticipate that ConocoPhillips will post ($2.44) EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Monday, July 25th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend is Thursday, July 21st.
In other news, Director Arjun N. Murti purchased 6,500 shares of the firm’s stock in a transaction on Monday, August 1st. The stock was purchased at an average cost of $39.72 per share, with a total value of $258,180.00. Following the purchase, the director now owns 19,000 shares in the company, valued at approximately $754,680. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
A number of institutional investors have recently modified their holdings of COP. Ancora Advisors LLC raised its position in shares of ConocoPhillips by 1.2% in the fourth quarter. Ancora Advisors LLC now owns 47,318 shares of the company’s stock worth $3,268,000 after buying an additional 570 shares during the last quarter. BlackRock Advisors LLC raised its position in shares of ConocoPhillips by 8.0% in the fourth quarter. BlackRock Advisors LLC now owns 4,048,309 shares of the company’s stock worth $189,016,000 after buying an additional 299,828 shares during the last quarter. KBC Group NV raised its position in shares of ConocoPhillips by 10.6% in the fourth quarter. KBC Group NV now owns 296,490 shares of the company’s stock worth $13,843,000 after buying an additional 28,378 shares during the last quarter. Flippin Bruce & Porter Inc. raised its position 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 worth $5,142,000 after buying an additional 3,576 shares during the last quarter. Finally, Employees Retirement System of Texas raised its position in shares of ConocoPhillips by 8.7% in the fourth quarter. Employees Retirement System of Texas now owns 613,600 shares of the company’s stock worth $28,649,000 after buying an additional 49,300 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.