Key Points
- Director William McRaven bought 5,768 shares of ConocoPhillips on November 10 at an average price of $86.68, a purchase totaling about $499,970.
- ConocoPhillips beat quarterly expectations with EPS $1.61 (vs. $1.41 est.) and revenue of $15.03 billion (up 14.1% y/y), and raised its quarterly dividend to $0.84 (annualized $3.36, ~3.8% yield).
- Wall Street sentiment is a consensus "Moderate Buy" (18 Buys, 6 Holds) with an average target of $114.54; the stock trades near $88 with a market cap of about $110 billion and a P/E of 11.85.
ConocoPhillips (NYSE:COP - Get Free Report) Director William Mcraven bought 5,768 shares of the business's stock in a transaction dated Monday, November 10th. The shares were purchased at an average price of $86.68 per share, for a total transaction of $499,970.24. Following the transaction, the director directly owned 5,768 shares of the company's stock, valued at approximately $499,970.24. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink.
ConocoPhillips Stock Up 1.7%
Shares of NYSE COP opened at $88.28 on Tuesday. The stock has a market cap of $110.26 billion, a PE ratio of 11.85, a price-to-earnings-growth ratio of 2.36 and a beta of 0.58. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $115.38. The business has a 50-day moving average price of $91.36 and a 200 day moving average price of $91.99.
ConocoPhillips (NYSE:COP - Get Free Report) last released its quarterly earnings results on Thursday, November 6th. The energy producer reported $1.61 EPS for the quarter, topping the consensus estimate of $1.41 by $0.20. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The company had revenue of $15.03 billion for the quarter, compared to analyst estimates of $14.51 billion. During the same quarter in the previous year, the company posted $1.78 earnings per share. The firm's revenue was up 14.1% compared to the same quarter last year. Equities research analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current year.
ConocoPhillips Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Monday, November 17th. This is a positive change from ConocoPhillips's previous quarterly dividend of $0.78. ConocoPhillips's dividend payout ratio is presently 47.52%.
Institutional Trading of ConocoPhillips
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Diversify Wealth Management LLC raised its stake in shares of ConocoPhillips by 6.8% during the 1st quarter. Diversify Wealth Management LLC now owns 4,740 shares of the energy producer's stock worth $498,000 after buying an additional 303 shares in the last quarter. Ballentine Partners LLC boosted its stake in shares of ConocoPhillips by 10.6% in the first quarter. Ballentine Partners LLC now owns 19,118 shares of the energy producer's stock valued at $2,008,000 after buying an additional 1,829 shares in the last quarter. Kathmere Capital Management LLC grew its holdings in ConocoPhillips by 78.8% during the first quarter. Kathmere Capital Management LLC now owns 5,574 shares of the energy producer's stock worth $585,000 after acquiring an additional 2,456 shares during the period. TFR Capital LLC. raised its position in ConocoPhillips by 5.9% in the first quarter. TFR Capital LLC. now owns 22,144 shares of the energy producer's stock worth $2,326,000 after acquiring an additional 1,230 shares in the last quarter. Finally, Greatmark Investment Partners Inc. raised its position in ConocoPhillips by 2.5% in the first quarter. Greatmark Investment Partners Inc. now owns 6,747 shares of the energy producer's stock worth $709,000 after acquiring an additional 162 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company's stock.
Wall Street Analysts Forecast Growth
COP has been the subject of a number of recent research reports. Raymond James Financial decreased their price target on shares of ConocoPhillips from $117.00 to $115.00 and set an "outperform" rating for the company in a research note on Monday, September 8th. Royal Bank Of Canada upped their target price on shares of ConocoPhillips from $113.00 to $118.00 and gave the company an "outperform" rating in a report on Monday, October 13th. Wolfe Research reiterated an "outperform" rating and set a $131.00 target price on shares of ConocoPhillips in a research note on Thursday. Roth Capital lowered their price target on ConocoPhillips from $108.00 to $100.00 and set a "buy" rating on the stock in a report on Wednesday, October 15th. Finally, Weiss Ratings upgraded ConocoPhillips from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Friday. Eighteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $114.54.
Read Our Latest Research Report on COP
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.
Further Reading
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