ConocoPhillips (COP) Sees Large Decline in Short Interest
ConocoPhillips (NYSE:COP) saw a large drop in short interest in October. As of October 31st, there was short interest totalling 26,171,690 shares, a drop of 18.6% from the October 13th total of 32,139,196 shares. Currently, 2.2% of the company’s stock are short sold. Based on an average trading volume of 6,064,920 shares, the days-to-cover ratio is presently 4.3 days.
ConocoPhillips (NYSE:COP) opened at $50.13 on Monday. The company has a quick ratio of 2.23, a current ratio of 2.38 and a debt-to-equity ratio of 0.64. The stock has a market cap of $59,931.22, a P/E ratio of 2,506.50, a P/E/G ratio of 12.32 and a beta of 1.28. ConocoPhillips has a 1-year low of $42.26 and a 1-year high of $54.22.
ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, October 26th. The energy producer reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.08. The company had revenue of $7.20 billion for the quarter, compared to the consensus estimate of $6.55 billion. ConocoPhillips had a negative net margin of 7.32% and a positive return on equity of 0.12%. During the same quarter last year, the firm posted ($0.66) earnings per share. analysts expect that ConocoPhillips will post 0.54 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Monday, October 16th will be issued a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend is Friday, October 13th. ConocoPhillips’s payout ratio is -57.30%.
Several institutional investors and hedge funds have recently bought and sold shares of COP. Financial Management Professionals Inc. boosted its holdings in shares of ConocoPhillips by 0.3% in the second quarter. Financial Management Professionals Inc. now owns 2,294 shares of the energy producer’s stock worth $100,000 after buying an additional 6 shares during the last quarter. First Command Bank boosted its holdings in shares of ConocoPhillips by 9.4% in the second quarter. First Command Bank now owns 2,313 shares of the energy producer’s stock worth $101,000 after buying an additional 199 shares during the last quarter. Krilogy Financial LLC boosted its holdings in shares of ConocoPhillips by 48.6% in the second quarter. Krilogy Financial LLC now owns 2,392 shares of the energy producer’s stock worth $105,000 after buying an additional 782 shares during the last quarter. Westside Investment Management Inc. boosted its holdings in shares of ConocoPhillips by 468.4% in the first quarter. Westside Investment Management Inc. now owns 2,427 shares of the energy producer’s stock worth $119,000 after buying an additional 2,000 shares during the last quarter. Finally, Rocky Mountain Advisers LLC boosted its holdings in shares of ConocoPhillips by 140.2% in the third quarter. Rocky Mountain Advisers LLC now owns 2,392 shares of the energy producer’s stock worth $120,000 after buying an additional 1,396 shares during the last quarter. 69.83% of the stock is currently owned by institutional investors.
Several research analysts recently issued reports on COP shares. Jefferies Group LLC set a $54.00 price target on shares of ConocoPhillips and gave the stock a “buy” rating in a research note on Tuesday, August 29th. Barclays PLC increased their price target on shares of ConocoPhillips from $55.00 to $59.00 and gave the stock an “overweight” rating in a research note on Friday, October 27th. Royal Bank Of Canada set a $54.00 price target on shares of ConocoPhillips and gave the stock a “buy” rating in a research note on Thursday, August 24th. Zacks Investment Research upgraded shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, BidaskClub upgraded shares of ConocoPhillips from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. Two analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. ConocoPhillips presently has a consensus rating of “Buy” and a consensus target price of $55.37.
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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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