Traders Buy ConocoPhillips (COP) on Weakness

Traders purchased shares of ConocoPhillips (NYSE:COP) on weakness during trading on Tuesday. $91.82 million flowed into the stock on the tick-up and $41.49 million flowed out of the stock on the tick-down, for a money net flow of $50.33 million into the stock. Of all equities tracked, ConocoPhillips had the 4th highest net in-flow for the day. ConocoPhillips traded down ($0.07) for the day and closed at $50.01

A number of research firms have recently weighed in on COP. Royal Bank Of Canada boosted their price target on ConocoPhillips from $58.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, November 9th. Piper Jaffray Companies reissued a “buy” rating and issued a $53.00 price target on shares of ConocoPhillips in a report on Friday, November 3rd. Scotiabank reissued a “buy” rating and issued a $53.00 price target on shares of ConocoPhillips in a report on Wednesday, November 1st. Barclays PLC boosted their price target on ConocoPhillips from $55.00 to $59.00 and gave the stock an “overweight” rating in a report on Friday, October 27th. Finally, Wells Fargo & Company boosted their price target on ConocoPhillips from $57.00 to $60.00 and gave the stock an “outperform” rating in a report on Friday, October 27th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. ConocoPhillips presently has a consensus rating of “Buy” and a consensus target price of $55.37.

The company has a quick ratio of 2.23, a current ratio of 2.38 and a debt-to-equity ratio of 0.64. The company has a market cap of $59,787.75, a PE ratio of 2,500.50, a price-to-earnings-growth ratio of 12.29 and a beta of 1.28.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, October 26th. The energy producer reported $0.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.08. ConocoPhillips had a positive return on equity of 0.12% and a negative net margin of 7.32%. The company had revenue of $7.20 billion during the quarter, compared to the consensus estimate of $6.55 billion. During the same quarter in the prior year, the business earned ($0.66) earnings per share. equities research analysts predict that ConocoPhillips will post 0.54 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Monday, October 16th will be given a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 2.11%. The ex-dividend date is Friday, October 13th. ConocoPhillips’s payout ratio is -57.30%.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of ConocoPhillips by 1.9% in the second quarter. Vanguard Group Inc. now owns 90,547,596 shares of the energy producer’s stock worth $3,980,473,000 after buying an additional 1,694,618 shares during the period. BlackRock Inc. boosted its position in shares of ConocoPhillips by 7.8% in the second quarter. BlackRock Inc. now owns 85,821,694 shares of the energy producer’s stock worth $3,772,723,000 after buying an additional 6,197,896 shares during the period. State Street Corp boosted its position in shares of ConocoPhillips by 3.9% in the first quarter. State Street Corp now owns 65,388,296 shares of the energy producer’s stock worth $3,260,918,000 after buying an additional 2,452,533 shares during the period. FMR LLC boosted its position in shares of ConocoPhillips by 6.9% in the first quarter. FMR LLC now owns 61,497,903 shares of the energy producer’s stock worth $3,066,900,000 after buying an additional 3,982,002 shares during the period. Finally, Macquarie Group Ltd. lifted its stake in shares of ConocoPhillips by 1.1% in the first quarter. Macquarie Group Ltd. now owns 15,981,830 shares of the energy producer’s stock worth $797,013,000 after acquiring an additional 176,055 shares in the last quarter. 69.83% of the stock is owned by institutional investors.

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ConocoPhillips Company Profile

ConocoPhillips is an independent exploration and production company. The Company explores for, produces, transports and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG) and natural gas liquids. The Company operates through five segments: Alaska, Lower 48, Canada, Europe and North Africa, Asia Pacific and Middle East, and Other International.

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