Investors Buy ConocoPhillips (COP) on Weakness

Investors bought shares of ConocoPhillips (NYSE:COP) on weakness during trading hours on Tuesday. $91.82 million flowed into the stock on the tick-up and $41.49 million flowed out of the stock on the tick-down, for a money net flow of $50.33 million into the stock. Of all stocks tracked, ConocoPhillips had the 4th highest net in-flow for the day. ConocoPhillips traded down ($0.07) for the day and closed at $50.01

Several research firms recently commented on COP. Royal Bank Of Canada raised their price target on shares of ConocoPhillips from $58.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, November 9th. Piper Jaffray Companies reiterated a “buy” rating and set a $53.00 target price on shares of ConocoPhillips in a report on Friday, November 3rd. Wells Fargo & Company increased their target price on shares of ConocoPhillips from $57.00 to $60.00 and gave the stock an “outperform” rating in a report on Friday, October 27th. Barclays PLC increased their target price on shares of ConocoPhillips from $55.00 to $59.00 and gave the stock an “overweight” rating in a report on Friday, October 27th. Finally, Scotiabank reiterated a “buy” rating and set a $53.00 target price on shares of ConocoPhillips in a report on Wednesday, November 1st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $55.37.

The stock has a market cap of $59,790.00, a price-to-earnings ratio of 2,506.50, a P/E/G ratio of 12.32 and a beta of 1.28. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.38 and a quick ratio of 2.23.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, October 26th. The energy producer reported $0.16 earnings per share (EPS) for the quarter, topping 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 company had revenue of $7.20 billion for the quarter, compared to analysts’ expectations of $6.55 billion. During the same quarter in the previous year, the company posted ($0.66) EPS. sell-side analysts predict that ConocoPhillips will post 0.54 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Monday, October 16th will be paid a dividend of $0.265 per share. The ex-dividend date of this dividend is Friday, October 13th. This represents a $1.06 annualized dividend and a yield of 2.12%. ConocoPhillips’s dividend payout ratio (DPR) is presently -53.27%.

Several hedge funds have recently made changes to their positions in COP. Financial Management Professionals Inc. boosted its position in shares of ConocoPhillips by 0.3% during the 2nd quarter. Financial Management Professionals Inc. now owns 2,294 shares of the energy producer’s stock valued at $100,000 after acquiring an additional 6 shares during the last quarter. First Command Bank boosted its position in shares of ConocoPhillips by 9.4% during the 2nd quarter. First Command Bank now owns 2,313 shares of the energy producer’s stock valued at $101,000 after acquiring an additional 199 shares during the last quarter. Krilogy Financial LLC boosted its position in shares of ConocoPhillips by 48.6% during the 2nd quarter. Krilogy Financial LLC now owns 2,392 shares of the energy producer’s stock valued at $105,000 after acquiring an additional 782 shares during the last quarter. Westside Investment Management Inc. boosted its position in shares of ConocoPhillips by 468.4% during the 1st quarter. Westside Investment Management Inc. now owns 2,427 shares of the energy producer’s stock valued at $119,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Rocky Mountain Advisers LLC raised its holdings in ConocoPhillips by 140.2% in the 3rd quarter. Rocky Mountain Advisers LLC now owns 2,392 shares of the energy producer’s stock valued at $120,000 after buying an additional 1,396 shares during the period. 69.83% of the stock is currently owned by hedge funds and other institutional investors.

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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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