Traders sold shares of ConocoPhillips (NYSE:COP) on strength during trading on Tuesday. $46.96 million flowed into the stock on the tick-up and $64.00 million flowed out of the stock on the tick-down, for a money net flow of $17.04 million out of the stock. Of all equities tracked, ConocoPhillips had the 0th highest net out-flow for the day. ConocoPhillips traded up $0.46 for the day and closed at $45.63
COP has been the subject of several research reports. Jefferies Group LLC restated a “hold” rating and issued a $55.00 target price on shares of ConocoPhillips in a research note on Friday, May 5th. Bank of America Corporation downgraded ConocoPhillips from a “buy” rating to a “neutral” rating and reduced their target price for the company from $68.00 to $67.00 in a research note on Thursday, May 11th. BidaskClub upgraded ConocoPhillips from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. Royal Bank Of Canada reiterated a “buy” rating and set a $62.00 price target on shares of ConocoPhillips in a research note on Thursday, June 15th. Finally, Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and set a $52.00 price target on shares of ConocoPhillips in a research note on Thursday, June 22nd. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. ConocoPhillips currently has an average rating of “Buy” and a consensus target price of $55.18.
The company has a 50 day moving average price of $44.10 and a 200-day moving average price of $46.28. The company’s market cap is $52.46 billion.
ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, July 27th. The energy producer reported $0.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.16. ConocoPhillips had a negative net margin of 12.29% and a negative return on equity of 2.86%. The business had revenue of $8.88 billion for the quarter, compared to the consensus estimate of $6.74 billion. During the same period last year, the firm earned ($0.79) earnings per share. Equities analysts expect that ConocoPhillips will post $0.24 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Monday, July 24th will be given a $0.265 dividend. The ex-dividend date of this dividend is Thursday, July 20th. This represents a $1.06 annualized dividend and a yield of 2.46%. ConocoPhillips’s payout ratio is presently -34.98%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. WFG Advisors LP increased its position in ConocoPhillips by 0.4% in the second quarter. WFG Advisors LP now owns 9,611 shares of the energy producer’s stock valued at $423,000 after buying an additional 39 shares during the last quarter. Toronto Dominion Bank increased its position in ConocoPhillips by 16.1% in the second quarter. Toronto Dominion Bank now owns 616,392 shares of the energy producer’s stock valued at $27,092,000 after buying an additional 85,538 shares during the last quarter. Advisory Services Network LLC increased its stake in shares of ConocoPhillips by 5.3% in the second quarter. Advisory Services Network LLC now owns 29,190 shares of the energy producer’s stock valued at $1,283,000 after buying an additional 1,462 shares during the last quarter. Beaton Management Co. Inc. purchased a new stake in shares of ConocoPhillips during the second quarter valued at approximately $572,000. Finally, WINTON GROUP Ltd increased its stake in shares of ConocoPhillips by 39.9% in the second quarter. WINTON GROUP Ltd now owns 8,762 shares of the energy producer’s stock valued at $385,000 after buying an additional 2,497 shares during the last quarter. Institutional investors and hedge funds own 68.68% of the company’s stock.
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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