Investors Sell ConocoPhillips (COP) on Strength (COP)

Investors sold shares of ConocoPhillips (NYSE:COP) on strength during trading on Tuesday. $40.58 million flowed into the stock on the tick-up and $69.48 million flowed out of the stock on the tick-down, for a money net flow of $28.90 million out of the stock. Of all companies tracked, ConocoPhillips had the 0th highest net out-flow for the day. ConocoPhillips traded up $0.46 for the day and closed at $47.55

A number of research analysts have recently commented on the stock. J P Morgan Chase & Co reissued an “overweight” rating on shares of ConocoPhillips in a research report on Saturday, September 16th. Scotiabank reissued a “buy” rating and set a $52.00 target price on shares of ConocoPhillips in a research report on Friday, September 8th. Jefferies Group LLC set a $54.00 target price on shares of ConocoPhillips and gave the stock a “buy” rating in a research report on Tuesday, August 29th. Piper Jaffray Companies set a $45.00 target price on shares of ConocoPhillips and gave the stock a “buy” rating in a research report on Friday, August 25th. Finally, Royal Bank Of Canada set a $54.00 target price on shares of ConocoPhillips and gave the stock a “buy” rating in a research report on Thursday, August 24th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $54.19.

The stock’s 50-day moving average price is $44.59 and its 200 day moving average price is $45.61. The company’s market capitalization is $58.82 billion.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, July 27th. The energy producer reported $0.14 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.16. The firm had revenue of $8.88 billion during the quarter, compared to analyst estimates of $6.74 billion. ConocoPhillips had a negative return on equity of 2.86% and a negative net margin of 12.29%. During the same period last year, the company earned ($0.79) earnings per share. Equities research analysts forecast that ConocoPhillips will post $0.26 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Monday, July 24th were given a $0.265 dividend. The ex-dividend date was Thursday, July 20th. This represents a $1.06 dividend on an annualized basis and a yield of 2.19%. ConocoPhillips’s payout ratio is -34.98%.

A number of hedge funds have recently made changes to their positions in the stock. Patten & Patten Inc. TN grew its position in shares of ConocoPhillips by 4.6% during the 2nd quarter. Patten & Patten Inc. TN now owns 59,322 shares of the energy producer’s stock worth $2,608,000 after buying an additional 2,607 shares during the period. Shell Asset Management Co. grew its position in shares of ConocoPhillips by 2.4% during the 2nd quarter. Shell Asset Management Co. now owns 202,066 shares of the energy producer’s stock worth $8,883,000 after buying an additional 4,647 shares during the period. First Foundation Advisors acquired a new position in shares of ConocoPhillips during the 1st quarter worth about $497,000. FMR LLC grew its position in shares of ConocoPhillips by 6.9% during the 1st 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, Citizens Financial Group Inc. RI grew its position in shares of ConocoPhillips by 12.5% during the 1st quarter. Citizens Financial Group Inc. RI now owns 210,916 shares of the energy producer’s stock worth $10,518,000 after buying an additional 23,434 shares during the period. Hedge funds and other institutional investors own 68.90% of the company’s stock.

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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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