ConocoPhillips (NYSE: COP – Get Rating) was the recipient of a large growth in short interest in May. As of May 31st, there was short interest totalling 17,180,000 shares, a growth of 26.0% from the May 15th total of 13,640,000 shares. Approximately 1.3% of the company stock are sold short. Based on an average trading volume of 7,890,000 shares, the short-interest ratio is presently 2.2 days.
In related news, EVP Nicholas G. Olds sold 19,200 shares of the firm’s stock in a transaction that occurred on Wednesday, May 25th. The stock was sold at an average price of $ 110.51, for a total transaction of $ 2,121,792.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Timothy A. Leach sold 40,603 shares of the firm’s stock in a transaction that occurred on Thursday, May 19th. The shares were sold at an average price of $ 102.33, for a total value of $ 4,154,904.99. Following the transaction, the director now directly owns 666,002 shares of the company stock, valued at approximately $ 68,151,984.66. The disclosure for this sale can be found here. Insiders sold a total of 644,703 shares of company stock valued at $ 77,172,426 in the last three months. Corporate insiders own 0.40% of the company stock.
Hedge funds have recently modified their holdings of the company. Rockland Trust Co. increased its holdings in shares of ConocoPhillips by 3.8% in the fourth quarter. Rockland Trust Co. now owns 10,933 shares of the energy producer’s stock worth $ 789,000 after purchasing an additional 399 shares during the last quarter. Old North State Trust LLC grew its position in ConocoPhillips by 25.0% in the fourth quarter. Old North State Trust LLC now owns 1,180 shares of the energy producer’s stock worth $ 85,000 after acquiring an additional 236 shares in the last quarter. California State Teachers Retirement System grew its position in ConocoPhillips by 2.6% in the fourth quarter. California State Teachers Retirement System now owns 2,327,977 shares of the energy producer’s stock worth $ 168,033,000 after acquiring an additional 59,037 shares in the last quarter. Retirement Group LLC grew its position in ConocoPhillips by 12.2% in the third quarter. Retirement Group LLC now owns 15,326 shares of the energy producer’s stock worth $ 1,039,000 after acquiring an additional 1,672 shares in the last quarter. Finally, UBS Asset Management Americas Inc. grew its position in ConocoPhillips by 9.2% in the third quarter. UBS Asset Management Americas Inc. now owns 6,262,480 shares of the energy producer’s stock worth $ 424,408,000 after acquiring an additional 529,105 shares in the last quarter. 78.80% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have commented on COP. Societe Generale increased their target price on ConocoPhillips to $ 127.00 in a research note on Thursday, June 9th. Raymond James increased their target price on ConocoPhillips from $ 120.00 to $ 160.00 and gave the company a “strong-buy” rating in a research note on Monday, April 25th. Scotiabank upgraded ConocoPhillips from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $ 110.00 to $ 115.00 in a research note on Monday, April 18th. Wells Fargo & Company increased their target price on ConocoPhillips from $ 114.00 to $ 130.00 and gave the company an “overweight” rating in a research note on Friday, March 11th. Finally, Bank of America downgraded ConocoPhillips from a “buy” rating to a “neutral” rating and raised their price target for the stock from $ 110.00 to $ 135.00 in a research note on Tuesday, March 8th. Three analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $ 108.61.
NYSE: COP opened at $ 102.42 on Friday. The company has a quick ratio of 1.41, a current ratio of 1.51 and a debt-to-equity ratio of 0.36. The business’s 50-day simple moving average is $ 105.47 and its two-hundred day simple moving average is $ 93.52. The stock has a market cap of $ 132.48 billion, a PE ratio of 10.56, a P / E / G ratio of 0.41 and a beta of 1.34. ConocoPhillips has a 52 week low of $ 51.41 and a 52 week high of $ 124.08.
ConocoPhillips (NYSE: COP – Get Rating) last posted its quarterly earnings results on Thursday, May 5th. The energy producer reported $ 3.27 EPS for the quarter, beating analysts’ consensus estimates of $ 3.24 by $ 0.03. The business had revenue of $ 19.29 billion for the quarter, compared to analysts’ expectations of $ 18.36 billion. ConocoPhillips had a return on equity of 24.89% and a net margin of 22.52%. The business’s quarterly revenue was up 82.7% on a year-over-year basis. During the same period last year, the firm earned $ 0.69 earnings per share. Sell-side analysts anticipate that ConocoPhillips will post 15 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 1st. Stockholders of record on Tuesday, May 17th were issued a $ 0.46 dividend. The ex-dividend date was Monday, May 16th. This represents a $ 1.84 annualized dividend and a dividend yield of 1.80%. ConocoPhillips’s dividend payout ratio (DPR) is 18.97%.
About ConocoPhillips: (Get Rating)
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. It primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations. The company portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.
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