Traders Sell ConocoPhillips (COP) on Strength (COP)

Investors sold shares of ConocoPhillips (NYSE:COP) on strength during trading on Monday. $49.13 million flowed into the stock on the tick-up and $120.92 million flowed out of the stock on the tick-down, for a money net flow of $71.79 million out of the stock. Of all companies tracked, ConocoPhillips had the 17th highest net out-flow for the day. ConocoPhillips traded up $0.92 for the day and closed at $60.67

Several analysts have weighed in on COP shares. Barclays boosted their target price on shares of ConocoPhillips from $55.00 to $59.00 and gave the stock an “overweight” rating in a research report on Friday, October 27th. Royal Bank of Canada lifted their price objective on shares of ConocoPhillips from $58.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, November 9th. Zacks Investment Research cut shares of ConocoPhillips from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. Scotiabank restated a “buy” rating and set a $53.00 price objective on shares of ConocoPhillips in a research note on Wednesday, November 1st. Finally, Goldman Sachs Group upgraded shares of ConocoPhillips from a “neutral” rating to a “buy” rating and set a $60.00 price objective for the company in a research note on Wednesday, December 13th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. ConocoPhillips has an average rating of “Buy” and a consensus target price of $56.35.

The company has a current ratio of 2.38, a quick ratio of 2.23 and a debt-to-equity ratio of 0.64. The firm has a market cap of $72,530.00, a P/E ratio of -30.49, a P/E/G ratio of 2.55 and a beta of 1.26.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, October 26th. The energy producer reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.08. ConocoPhillips had a negative net margin of 7.32% and a positive return on equity of 0.12%. The firm had revenue of $7.20 billion during the quarter, compared to analysts’ expectations of $6.55 billion. During the same period in the previous year, the business posted ($0.66) EPS. analysts predict that ConocoPhillips will post 0.57 earnings per share for the current fiscal year.

In other news, Director Charles E. Bunch bought 2,000 shares of the firm’s stock in a transaction that occurred on Monday, December 11th. The stock was purchased at an average cost of $52.06 per share, for a total transaction of $104,120.00. Following the purchase, the director now directly owns 3,429 shares in the company, valued at approximately $178,513.74. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.82% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Freestone Capital Holdings LLC increased its holdings in ConocoPhillips by 78.7% in the 2nd quarter. Freestone Capital Holdings LLC now owns 8,047 shares of the energy producer’s stock worth $354,000 after acquiring an additional 3,543 shares in the last quarter. Point View Wealth Management Inc. increased its holdings in ConocoPhillips by 19.8% in the 2nd quarter. Point View Wealth Management Inc. now owns 32,939 shares of the energy producer’s stock worth $1,448,000 after acquiring an additional 5,452 shares in the last quarter. Toronto Dominion Bank increased its holdings in ConocoPhillips by 16.1% in the 2nd quarter. Toronto Dominion Bank now owns 616,392 shares of the energy producer’s stock worth $27,092,000 after acquiring an additional 85,538 shares in the last quarter. Korea Investment CORP increased its holdings in ConocoPhillips by 32.8% in the 3rd quarter. Korea Investment CORP now owns 1,026,000 shares of the energy producer’s stock worth $51,351,000 after acquiring an additional 253,600 shares in the last quarter. Finally, MUFG Securities EMEA plc purchased a new stake in ConocoPhillips in the 2nd quarter worth $26,376,000. Hedge funds and other institutional investors own 69.54% of the company’s stock.

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About ConocoPhillips

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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