Investors Buy Shares of ConocoPhillips (COP) on Weakness

Traders bought shares of ConocoPhillips (NYSE:COP) on weakness during trading on Wednesday. $172.60 million flowed into the stock on the tick-up and $108.88 million flowed out of the stock on the tick-down, for a money net flow of $63.72 million into the stock. Of all equities tracked, ConocoPhillips had the 10th highest net in-flow for the day. ConocoPhillips traded down ($0.09) for the day and closed at $66.42

A number of equities research analysts have recently issued reports on the company. Zacks Investment Research raised ConocoPhillips from a “hold” rating to a “strong-buy” rating and set a $66.00 target price on the stock in a research report on Wednesday, January 10th. Jefferies Group lowered ConocoPhillips from a “buy” rating to a “hold” rating and boosted their target price for the stock from $66.42 to $68.00 in a research report on Thursday. Barclays set a $71.00 target price on ConocoPhillips and gave the stock a “buy” rating in a research report on Sunday, March 4th. Edward Jones lowered ConocoPhillips from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Piper Jaffray reaffirmed a “buy” rating and set a $63.00 target price on shares of ConocoPhillips in a research report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $61.92.

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The company has a debt-to-equity ratio of 0.56, a current ratio of 1.76 and a quick ratio of 1.64. The stock has a market cap of $78,015.47, a price-to-earnings ratio of 110.52, a price-to-earnings-growth ratio of 1.94 and a beta of 1.23.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, February 1st. The energy producer reported $0.45 EPS for the quarter, meeting analysts’ consensus estimates of $0.45. ConocoPhillips had a positive return on equity of 2.81% and a negative net margin of 2.04%. The firm had revenue of $8.74 billion for the quarter, compared to the consensus estimate of $7.70 billion. During the same quarter in the previous year, the company posted ($0.26) earnings per share. equities research analysts anticipate that ConocoPhillips will post 2.93 EPS for the current fiscal year.

ConocoPhillips declared that its Board of Directors has approved a share repurchase plan on Thursday, February 1st that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the energy producer to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

In other ConocoPhillips news, SVP Andrew D. Lundquist sold 25,000 shares of the business’s stock in a transaction dated Thursday, March 29th. The stock was sold at an average price of $58.96, for a total value of $1,474,000.00. Following the transaction, the senior vice president now owns 27,353 shares in the company, valued at $1,612,732.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.88% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Financial Advocates Investment Management bought a new stake in shares of ConocoPhillips during the 4th quarter worth about $885,000. Lombard Odier Asset Management USA Corp bought a new stake in shares of ConocoPhillips during the 4th quarter worth about $11,478,000. Tiemann Investment Advisors LLC bought a new stake in shares of ConocoPhillips during the 4th quarter worth about $206,000. Royal Bank of Scotland Group PLC bought a new stake in shares of ConocoPhillips during the 4th quarter worth about $21,216,000. Finally, Johnson Financial Group Inc. boosted its stake in shares of ConocoPhillips by 38.8% during the 3rd quarter. Johnson Financial Group Inc. now owns 24,924 shares of the energy producer’s stock worth $1,247,000 after acquiring an additional 6,972 shares in the last quarter. Hedge funds and other institutional investors own 71.14% of the company’s stock.

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ConocoPhillips Company Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. Its portfolio includes North American tight oil and oil sands assets in Canada; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; and an inventory of conventional and unconventional exploration prospects.

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