Investors Sell ConocoPhillips (COP) on Strength (COP)

Investors sold shares of ConocoPhillips (NYSE:COP) on strength during trading on Wednesday. $107.69 million flowed into the stock on the tick-up and $143.59 million flowed out of the stock on the tick-down, for a money net flow of $35.90 million out of the stock. Of all companies tracked, ConocoPhillips had the 8th highest net out-flow for the day. ConocoPhillips traded up $1.40 for the day and closed at $68.74

Several equities analysts have weighed in on COP shares. Royal Bank of Canada set a $70.00 target price on ConocoPhillips and gave the company a “buy” rating in a research report on Friday, April 13th. Edward Jones downgraded ConocoPhillips from a “buy” rating to a “hold” rating in a research report on Wednesday, April 18th. Zacks Investment Research raised ConocoPhillips from a “hold” rating to a “buy” rating and set a $78.00 target price for the company in a research report on Wednesday, June 13th. Barclays lifted their target price on ConocoPhillips from $71.00 to $78.00 and gave the company an “overweight” rating in a research report on Friday, April 27th. Finally, Sanford C. Bernstein raised ConocoPhillips from a “market perform” rating to an “outperform” rating and set a $82.00 target price for the company in a research report on Friday, June 8th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $66.90.

The company has a quick ratio of 1.71, a current ratio of 1.86 and a debt-to-equity ratio of 0.54. The firm has a market cap of $77.39 billion, a PE ratio of 114.57, a P/E/G ratio of 1.79 and a beta of 1.22.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, April 26th. The energy producer reported $0.96 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.22. The firm had revenue of $8.96 billion during the quarter, compared to the consensus estimate of $8.68 billion. ConocoPhillips had a positive return on equity of 6.69% and a negative net margin of 1.64%. During the same period in the prior year, the company posted ($0.02) earnings per share. research analysts predict that ConocoPhillips will post 4.11 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, June 1st. Investors of record on Monday, May 14th were issued a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend was Friday, May 11th. ConocoPhillips’s dividend payout ratio (DPR) is 190.00%.

In related news, VP Glenda Mae Schwarz sold 6,763 shares of the company’s stock in a transaction that occurred on Friday, May 25th. The stock was sold at an average price of $65.04, for a total value of $439,865.52. Following the completion of the transaction, the vice president now directly owns 10,182 shares of the company’s stock, valued at $662,237.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Andrew D. Lundquist sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, March 29th. The shares were sold at an average price of $58.96, for a total value of $1,474,000.00. Following the completion of the transaction, the senior vice president now directly owns 27,353 shares of the company’s stock, valued at $1,612,732.88. The disclosure for this sale can be found here. Insiders sold 309,052 shares of company stock valued at $20,965,534 over the last ninety days. 0.88% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Avalon Advisors LLC boosted its holdings in ConocoPhillips by 35.4% in the first quarter. Avalon Advisors LLC now owns 280,157 shares of the energy producer’s stock valued at $16,610,000 after purchasing an additional 73,188 shares in the last quarter. Mount Yale Investment Advisors LLC purchased a new stake in ConocoPhillips in the first quarter valued at approximately $230,000. Cynosure Advisors LLC purchased a new stake in ConocoPhillips in the first quarter valued at approximately $1,508,000. HighPoint Advisor Group LLC lifted its stake in ConocoPhillips by 9.8% in the first quarter. HighPoint Advisor Group LLC now owns 9,228 shares of the energy producer’s stock valued at $641,000 after buying an additional 824 shares during the last quarter. Finally, Chesapeake Wealth Management purchased a new stake in ConocoPhillips in the first quarter valued at approximately $320,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

About ConocoPhillips

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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