ConocoPhillips (NYSE:COP) Short Interest Update

ConocoPhillips (NYSE:COP) saw a significant growth in short interest during the month of October. As of October 15th, there was short interest totalling 22,810,000 shares, a growth of 7.2% from the September 30th total of 21,270,000 shares. Currently, 2.0% of the company’s stock are sold short. Based on an average daily volume of 6,580,000 shares, the short-interest ratio is presently 3.5 days.

ConocoPhillips Stock Performance

Shares of COP stock traded down $1.84 during trading on Friday, reaching $107.70. The company had a trading volume of 4,910,106 shares, compared to its average volume of 5,896,273. The company has a market capitalization of $125.07 billion, a PE ratio of 11.93, a PEG ratio of 0.84 and a beta of 1.21. The firm’s 50 day simple moving average is $108.01 and its two-hundred day simple moving average is $113.17. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.33 and a quick ratio of 1.19. ConocoPhillips has a one year low of $101.29 and a one year high of $135.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.10. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The firm had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. During the same quarter in the previous year, the company posted $2.16 EPS. The business’s revenue for the quarter was down 8.5% compared to the same quarter last year. Sell-side analysts forecast that ConocoPhillips will post 7.76 earnings per share for the current year.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 11th will be given a dividend of $0.78 per share. The ex-dividend date is Friday, November 8th. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a yield of 2.90%. ConocoPhillips’s dividend payout ratio is 25.86%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on COP. Mizuho boosted their price target on ConocoPhillips from $129.00 to $132.00 and gave the stock a “neutral” rating in a research note on Friday. Susquehanna lifted their target price on ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a report on Friday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $140.00 target price on shares of ConocoPhillips in a report on Friday, September 13th. Wolfe Research assumed coverage on ConocoPhillips in a report on Thursday, July 18th. They issued an “outperform” rating and a $145.00 price target for the company. Finally, Sanford C. Bernstein decreased their price target on ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating for the company in a report on Wednesday, July 17th. Six research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $137.47.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of ConocoPhillips stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total value of $6,000,105.00. Following the transaction, the director now owns 455,909 shares in the company, valued at $49,288,321.99. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.34% of the stock is owned by insiders.

Institutional Trading of ConocoPhillips

Hedge funds have recently added to or reduced their stakes in the company. First Trust Direct Indexing L.P. grew its position in ConocoPhillips by 5.6% during the 1st quarter. First Trust Direct Indexing L.P. now owns 26,083 shares of the energy producer’s stock worth $3,320,000 after acquiring an additional 1,390 shares during the last quarter. Manning & Napier Advisors LLC purchased a new position in ConocoPhillips in the second quarter valued at approximately $30,021,000. EP Wealth Advisors LLC lifted its position in shares of ConocoPhillips by 19.1% during the first quarter. EP Wealth Advisors LLC now owns 28,601 shares of the energy producer’s stock worth $3,640,000 after acquiring an additional 4,578 shares in the last quarter. Norden Group LLC lifted its position in shares of ConocoPhillips by 2,634.9% during the first quarter. Norden Group LLC now owns 124,440 shares of the energy producer’s stock worth $15,838,000 after acquiring an additional 119,890 shares in the last quarter. Finally, Alpha DNA Investment Management LLC raised its position in shares of ConocoPhillips by 83.8% in the second quarter. Alpha DNA Investment Management LLC now owns 16,427 shares of the energy producer’s stock worth $1,879,000 after buying an additional 7,490 shares in the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Company Profile

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.