ConocoPhillips (NYSE:COP) Short Interest Update

by · The Markets Daily

ConocoPhillips (NYSE:COP – Get Free Report) saw a significant increase in short interest in March. As of March 31st, there was short interest totalling 19,360,000 shares, an increase of 21.5% from the March 15th total of 15,940,000 shares. Approximately 1.5% of the shares of the company are short sold. Based on an average trading volume of 8,890,000 shares, the days-to-cover ratio is currently 2.2 days.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on COP shares. JPMorgan Chase & Co. lowered their price objective on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. UBS Group dropped their price target on shares of ConocoPhillips from $116.00 to $111.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. Morgan Stanley reaffirmed an “overweight” rating and issued a $116.00 price objective on shares of ConocoPhillips in a report on Tuesday, April 15th. Truist Financial raised their target price on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Finally, Raymond James cut ConocoPhillips from a “strong-buy” rating to an “outperform” rating and reduced their price target for the stock from $157.00 to $124.00 in a report on Monday, February 10th. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $128.32.

View Our Latest Research Report on COP

ConocoPhillips Price Performance

Shares of NYSE:COP traded down $1.34 during midday trading on Monday, hitting $87.64. The company had a trading volume of 6,171,355 shares, compared to its average volume of 7,117,836. The business’s 50-day simple moving average is $95.25 and its 200-day simple moving average is $101.30. The stock has a market cap of $110.79 billion, a price-to-earnings ratio of 11.25, a price-to-earnings-growth ratio of 0.79 and a beta of 0.83. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $130.77.

ConocoPhillips (NYSE:COP – Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, topping the consensus estimate of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. On average, research analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.56%. The ex-dividend date of this dividend was Friday, February 14th. ConocoPhillips’s payout ratio is presently 40.05%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Morse Asset Management Inc acquired a new stake in shares of ConocoPhillips during the third quarter valued at about $805,000. Anchor Investment Management LLC boosted its position in shares of ConocoPhillips by 5.5% during the third quarter. Anchor Investment Management LLC now owns 11,322 shares of the energy producer’s stock worth $1,192,000 after buying an additional 589 shares during the period. Fulcrum Equity Management grew its stake in shares of ConocoPhillips by 24.1% in the third quarter. Fulcrum Equity Management now owns 5,939 shares of the energy producer’s stock valued at $625,000 after buying an additional 1,155 shares in the last quarter. World Investment Advisors LLC grew its stake in shares of ConocoPhillips by 746.7% in the third quarter. World Investment Advisors LLC now owns 43,928 shares of the energy producer’s stock valued at $4,625,000 after buying an additional 38,740 shares in the last quarter. Finally, Arvest Bank Trust Division purchased a new stake in shares of ConocoPhillips in the 3rd quarter valued at $11,549,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Company Profile

(Get Free Report)

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.

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