Investors Sell Shares of ConocoPhillips (COP) on Strength (COP)
Investors sold shares of ConocoPhillips (NYSE:COP) on strength during trading hours 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 companies 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 subject of several recent analyst reports. Simmons reaffirmed a “neutral” rating on shares of ConocoPhillips in a report on Thursday. Deutsche Bank AG reaffirmed a “buy” rating on shares of ConocoPhillips in a report on Sunday, July 31st. Zacks Investment Research raised shares of ConocoPhillips from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a report on Wednesday, July 13th. Jefferies Group reaffirmed a “sell” rating on shares of ConocoPhillips in a report on Sunday, July 10th. Finally, JPMorgan Chase & Co. raised shares of ConocoPhillips from an “underweight” rating to a “neutral” rating and set a $44.00 target price for the company in a report 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 issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $48.41.
The stock’s market cap is $51.24 billion. The firm’s 50-day moving average price is $41.62 and its 200-day moving average price is $41.27.
ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, July 28th. The company reported ($0.79) earnings per share for the quarter, missing the consensus estimate of ($0.61) by $0.18. During the same period last year, the firm posted $0.07 EPS. The company earned $5.58 billion during the quarter, compared to analysts’ expectations of $5.38 billion. The firm’s revenue was down 35.6% compared to the same quarter last year. On average, equities analysts expect that ConocoPhillips will post ($2.44) EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Monday, July 25th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.42%. The ex-dividend date is Thursday, July 21st.
In other news, Director Arjun N. Murti acquired 6,500 shares of ConocoPhillips stock in a transaction on Monday, August 1st. The stock was bought 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 owns 19,000 shares in the company, valued at $754,680. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
A number of large investors have recently modified their holdings of the stock. Ancora Advisors LLC boosted its stake 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 in the last quarter. BlackRock Advisors LLC boosted its stake 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 in the last quarter. KBC Group NV boosted its stake 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 in the last quarter. Flippin Bruce & Porter Inc. boosted 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 worth $5,142,000 after buying an additional 3,576 shares in the last quarter. Finally, Employees Retirement System of Texas boosted its stake 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 in 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.
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