ConocoPhillips (NYSE:COP) Sees Significant Increase in Short Interest

ConocoPhillips (NYSE:COP) saw a large growth in short interest in November. As of November 15th, there was short interest totalling 24,870,000 shares, a growth of 11.2% from the October 31st total of 22,360,000 shares. Based on an average daily volume of 6,830,000 shares, the short-interest ratio is presently 3.6 days. Currently, 1.9% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Values First Advisors Inc. bought a new position in ConocoPhillips in the 3rd quarter valued at approximately $26,000. Stephens Consulting LLC lifted its holdings in ConocoPhillips by 69.3% during the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after buying an additional 104 shares during the period. Reston Wealth Management LLC acquired a new stake in shares of ConocoPhillips in the third quarter valued at about $31,000. Truvestments Capital LLC bought a new position in shares of ConocoPhillips during the third quarter worth about $31,000. Finally, Y.D. More Investments Ltd bought a new stake in ConocoPhillips in the second quarter valued at approximately $35,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Down 0.1 %

Shares of NYSE COP opened at $106.05 on Wednesday. ConocoPhillips has a 52 week low of $101.29 and a 52 week high of $135.18. The stock’s fifty day moving average is $108.64 and its 200 day moving average is $110.52. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. The stock has a market capitalization of $122.05 billion, a P/E ratio of 12.61, a PEG ratio of 0.87 and a beta of 1.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The company had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. During the same quarter in the prior year, the firm posted $2.16 EPS. The firm’s quarterly revenue was down 8.5% on a year-over-year basis. Sell-side analysts forecast that ConocoPhillips will post 7.76 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 11th were paid a $0.78 dividend. The ex-dividend date of this dividend was Friday, November 8th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a yield of 2.94%. ConocoPhillips’s dividend payout ratio (DPR) is 37.10%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on COP. Truist Financial reduced their target price on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Mizuho lifted their price target on shares of ConocoPhillips from $129.00 to $132.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. UBS Group cut their price target on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Wells Fargo & Company restated a “sector perform” rating on shares of ConocoPhillips in a research note on Friday, October 18th. Finally, Barclays upped their target price on ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Six analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $137.63.

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.