Traders Sell Shares of ConocoPhillips (COP) on Strength (COP)
Traders sold shares of ConocoPhillips (NYSE:COP) on strength during trading hours on Tuesday. $54.16 million flowed into the stock on the tick-up and $70.20 million flowed out of the stock on the tick-down, for a money net flow of $16.04 million out of the stock. Of all equities tracked, ConocoPhillips had the 0th highest net out-flow for the day. ConocoPhillips traded up $0.68 for the day and closed at $42.86
A number of equities analysts have recently commented on COP shares. Jefferies Group cut ConocoPhillips from a “hold” rating to an “underperform” rating and set a $37.00 price target for the company. in a report on Thursday, April 21st. They noted that the move was a valuation call. Goldman Sachs Group Inc. reissued a “neutral” rating on shares of ConocoPhillips in a report on Wednesday, April 27th. Citigroup Inc. boosted their price target on ConocoPhillips from $50.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, April 29th. Credit Suisse Group AG reissued a “hold” rating on shares of ConocoPhillips in a report on Saturday, April 30th. Finally, Vetr raised ConocoPhillips from a “strong sell” rating to a “sell” rating and set a $40.33 price target for the company in a report on Tuesday, May 3rd. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have issued 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 cap is $53.08 billion. The firm has a 50-day moving average price of $41.65 and a 200-day moving average price of $41.40.
ConocoPhillips (NYSE:COP) last released its quarterly earnings data 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. The firm earned $5.58 billion during the quarter, compared to analysts’ expectations of $5.38 billion. The company’s revenue for the quarter was down 35.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.07 EPS. On average, analysts anticipate that ConocoPhillips will post ($2.46) earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Monday, July 25th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, July 21st. This represents a $1.00 annualized dividend and a dividend yield of 2.33%.
In related news, Director Arjun N. Murti acquired 6,500 shares of the firm’s stock in a transaction dated Monday, August 1st. The shares were purchased at an average price of $39.72 per share, for a total transaction of $258,180.00. Following the completion of the acquisition, the director now owns 19,000 shares in the company, valued at $754,680. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, VP Ellen Desanctis acquired 5,000 shares of the firm’s stock in a transaction dated Thursday, August 11th. The stock was bought at an average price of $40.50 per share, for a total transaction of $202,500.00. Following the acquisition, the vice president now owns 22,010 shares of the company’s stock, valued at approximately $891,405. The disclosure for this purchase can be found here.
Several hedge funds and institutional investors recently added to or reduced their stakes in COP. Advantus Capital Management Inc increased its position in ConocoPhillips by 11.3% in the fourth quarter. Advantus Capital Management Inc now owns 152,657 shares of the company’s stock valued at $7,128,000 after buying an additional 15,507 shares in the last quarter. Fort Washington Investment Advisors Inc. OH boosted its stake in ConocoPhillips by 4.4% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 30,322 shares of the company’s stock valued at $1,416,000 after buying an additional 1,275 shares during the last quarter. Smith Salley & Associates boosted its stake in ConocoPhillips by 3.7% in the fourth quarter. Smith Salley & Associates now owns 33,973 shares of the company’s stock valued at $1,586,000 after buying an additional 1,227 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in ConocoPhillips by 3.5% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 141,804 shares of the company’s stock valued at $6,621,000 after buying an additional 4,733 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management CO. LTD. boosted its stake in ConocoPhillips by 4.5% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 186,111 shares of the company’s stock valued at $8,690,000 after buying an additional 7,977 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.
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