ConocoPhillips (NYSE:COP) Short Interest Update

ConocoPhillips (NYSE:COP) was the recipient of a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 14,080,000 shares, an increase of 9.3% from the March 31st total of 12,880,000 shares. Approximately 1.2% of the shares of the stock are sold short. Based on an average trading volume of 5,370,000 shares, the days-to-cover ratio is presently 2.6 days.

ConocoPhillips Trading Down 3.0 %

Shares of COP stock traded down $3.85 on Tuesday, hitting $126.37. The company had a trading volume of 2,087,079 shares, compared to its average volume of 5,291,120. The firm has a market cap of $148.66 billion, a P/E ratio of 14.37, a P/E/G ratio of 2.72 and a beta of 1.24. The stock’s 50-day moving average is $122.88 and its two-hundred day moving average is $117.67. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.29 and a current ratio of 1.43. ConocoPhillips has a twelve month low of $95.70 and a twelve month high of $135.18.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, February 8th. The energy producer reported $2.40 EPS for the quarter, topping the consensus estimate of $2.08 by $0.32. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. The business had revenue of $15.31 billion during the quarter, compared to analysts’ expectations of $14.47 billion. During the same quarter last year, the firm posted $2.71 earnings per share. On average, equities research analysts anticipate that ConocoPhillips will post 9.57 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Monday, February 19th were paid a dividend of $0.78 per share. The ex-dividend date was Thursday, February 15th. This represents a $3.12 annualized dividend and a yield of 2.47%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is currently 25.61%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. UBS Group upped their price objective on ConocoPhillips from $138.00 to $143.00 and gave the stock a “buy” rating in a research report on Wednesday, February 14th. Susquehanna increased their target price on ConocoPhillips from $133.00 to $154.00 and gave the company a “positive” rating in a research report on Monday, April 22nd. Mizuho reiterated a “neutral” rating and issued a $139.00 target price (up from $132.00) on shares of ConocoPhillips in a research report on Friday, March 22nd. Raymond James dropped their target price on ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. Finally, Scotiabank increased their target price on ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a research report on Thursday, April 11th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $142.65.

Insider Activity

In other news, CEO Ryan Michael Lance sold 607,000 shares of the company’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $125.91, for a total transaction of $76,427,370.00. Following the completion of the sale, the chief executive officer now directly owns 6,780 shares in the company, valued at approximately $853,669.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO William L. Jr. Bullock sold 45,200 shares of the company’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $123.32, for a total transaction of $5,574,064.00. Following the completion of the sale, the chief financial officer now directly owns 44,153 shares in the company, valued at approximately $5,444,947.96. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Ryan Michael Lance sold 607,000 shares of the company’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $125.91, for a total value of $76,427,370.00. Following the sale, the chief executive officer now owns 6,780 shares of the company’s stock, valued at $853,669.80. The disclosure for this sale can be found here. In the last three months, insiders sold 700,775 shares of company stock worth $87,615,169. 0.34% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ConocoPhillips

Several large investors have recently added to or reduced their stakes in COP. Massachusetts Financial Services Co. MA grew its stake in ConocoPhillips by 0.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 27,672,104 shares of the energy producer’s stock valued at $3,211,901,000 after acquiring an additional 108,956 shares during the period. Price T Rowe Associates Inc. MD grew its stake in ConocoPhillips by 24.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 23,712,617 shares of the energy producer’s stock valued at $2,752,325,000 after acquiring an additional 4,726,952 shares during the period. Bank of New York Mellon Corp grew its stake in ConocoPhillips by 5.8% in the first quarter. Bank of New York Mellon Corp now owns 14,986,970 shares of the energy producer’s stock valued at $1,907,542,000 after acquiring an additional 826,529 shares during the period. Northern Trust Corp grew its stake in ConocoPhillips by 3.2% in the third quarter. Northern Trust Corp now owns 12,486,871 shares of the energy producer’s stock valued at $1,495,927,000 after acquiring an additional 386,276 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in ConocoPhillips by 2.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 12,011,035 shares of the energy producer’s stock valued at $1,394,162,000 after acquiring an additional 270,859 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

About ConocoPhillips

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.