COP Stock: Traders Buy Shares of ConocoPhillips on Weakness

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Traders bought shares of ConocoPhillips (NYSE:COP) on weakness during trading hours on Monday. $70.02 million flowed into the stock on the tick-up and $37.34 million flowed out of the stock on the tick-down, for a money net flow of $32.68 million into the stock. Of all companies tracked, ConocoPhillips had the 26th highest net in-flow for the day. ConocoPhillips traded down ($1.31) for the day and closed at $49.16

A number of equities analysts have commented on COP shares. BidaskClub upgraded ConocoPhillips from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. Royal Bank Of Canada raised their price objective on ConocoPhillips from $58.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, November 9th. Morgan Stanley raised their price objective on ConocoPhillips from $45.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 18th. Barclays raised their price objective on ConocoPhillips from $55.00 to $59.00 and gave the stock an “overweight” rating in a research note on Friday, October 27th. Finally, Piper Jaffray Companies restated a “buy” rating and set a $52.00 price objective on shares of ConocoPhillips in a research note on Thursday, October 19th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $55.59.

The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.23 and a current ratio of 2.38. The stock has a market cap of $59,930.00, a P/E ratio of 2,523.50, a PEG ratio of 12.04 and a beta of 1.28.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, October 26th. The energy producer reported $0.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.08. ConocoPhillips had a positive return on equity of 0.12% and a negative net margin of 7.32%. The company had revenue of $7.20 billion for the quarter, compared to analyst estimates of $6.55 billion. During the same quarter last year, the company posted ($0.66) EPS. sell-side analysts forecast that ConocoPhillips will post 0.56 earnings per share for the current year.

The company 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 dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 2.11%. The ex-dividend date is Friday, October 13th. ConocoPhillips’s dividend payout ratio (DPR) is -53.27%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in COP. Wellington Management Group LLP boosted its holdings in shares of ConocoPhillips by 255.3% during the 1st quarter. Wellington Management Group LLP now owns 12,803,885 shares of the energy producer’s stock valued at $638,530,000 after acquiring an additional 9,200,014 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of ConocoPhillips by 7.8% during the 2nd quarter. BlackRock Inc. now owns 85,821,694 shares of the energy producer’s stock valued at $3,772,723,000 after acquiring an additional 6,197,896 shares in the last quarter. FMR LLC boosted its holdings 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 valued at $3,066,900,000 after acquiring an additional 3,982,002 shares in the last quarter. AJO LP boosted its holdings in shares of ConocoPhillips by 3,000.7% during the 2nd quarter. AJO LP now owns 2,988,018 shares of the energy producer’s stock valued at $131,353,000 after acquiring an additional 2,891,652 shares in the last quarter. Finally, State Street Corp boosted its holdings in shares of ConocoPhillips by 3.9% during the 1st quarter. State Street Corp now owns 65,388,296 shares of the energy producer’s stock valued at $3,260,918,000 after acquiring an additional 2,452,533 shares in the last quarter. 69.89% of the stock is currently owned by institutional investors.

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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I have been a technology and gaming writer for the last seven years for brands like CNET, The Inquirer and Pocket-lint, but I've loved technology my whole life. I've also been lucky enough to work for the BBC where I maanaged the Top Gear website and worked on countless other shos, including science and technology focused Tomorrow's World. In 2012, I presented a sSky TV show called Gadget Geeks and now I'm a writer at The Enterprise Daily.

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