ConocoPhillips (NYSE:COP) Short Interest Down 5.7% in March

ConocoPhillips (NYSE:COP) was the target of a significant drop in short interest in March. As of March 31st, there was short interest totalling 12,880,000 shares, a drop of 5.7% from the March 15th total of 13,660,000 shares. Approximately 1.1% of the company’s shares are short sold. Based on an average trading volume of 5,600,000 shares, the short-interest ratio is presently 2.3 days.

ConocoPhillips Trading Down 0.9 %

Shares of NYSE COP opened at $128.31 on Thursday. The company’s 50 day simple moving average is $119.92 and its 200 day simple moving average is $117.01. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.43 and a quick ratio of 1.29. ConocoPhillips has a fifty-two week low of $95.70 and a fifty-two week high of $135.18. The firm has a market capitalization of $150.95 billion, a P/E ratio of 14.16, a P/E/G ratio of 2.77 and a beta of 1.24.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.32. The firm had revenue of $15.31 billion for the quarter, compared to analyst estimates of $14.47 billion. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. During the same quarter in the prior year, the firm posted $2.71 earnings per share. On average, analysts predict that ConocoPhillips will post 9.35 EPS for the current year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Monday, February 19th were issued a dividend of $0.78 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $3.12 dividend on an annualized basis and a yield of 2.43%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s payout ratio is currently 25.61%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on COP shares. Piper Sandler dropped their target price on shares of ConocoPhillips from $139.00 to $133.00 and set an “overweight” rating on the stock in a report on Thursday, March 14th. Barclays assumed coverage on ConocoPhillips in a report on Wednesday, April 10th. They set an “overweight” rating and a $158.00 price target for the company. Mizuho restated a “neutral” rating and issued a $139.00 price objective (up previously from $132.00) on shares of ConocoPhillips in a research note on Friday, March 22nd. Scotiabank upped their price objective on shares of ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a research report on Thursday, April 11th. Finally, Raymond James reduced their target price on shares of ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating for the company in a research note on Wednesday, January 24th. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $140.59.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, EVP Nicholas G. Olds sold 12,150 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $126.44, for a total transaction of $1,536,246.00. Following the sale, the executive vice president now directly owns 14,522 shares of the company’s stock, valued at approximately $1,836,161.68. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, SVP Heather G. Hrap sold 4,548 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $110.55, for a total transaction of $502,781.40. Following the transaction, the senior vice president now directly owns 2,654 shares of the company’s stock, valued at $293,399.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Nicholas G. Olds sold 12,150 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $126.44, for a total transaction of $1,536,246.00. Following the completion of the transaction, the executive vice president now owns 14,522 shares in the company, valued at approximately $1,836,161.68. The disclosure for this sale can be found here. Insiders have sold a total of 700,775 shares of company stock valued at $87,615,169 over the last ninety days. Corporate insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On ConocoPhillips

Several hedge funds have recently bought and sold shares of COP. Moneta Group Investment Advisors LLC raised its stake in ConocoPhillips by 98,832.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 8,584,373 shares of the energy producer’s stock worth $1,012,956,000 after buying an additional 8,575,696 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of ConocoPhillips by 24.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 23,712,617 shares of the energy producer’s stock worth $2,752,325,000 after purchasing an additional 4,726,952 shares during the period. Morgan Stanley lifted its holdings in shares of ConocoPhillips by 26.6% during the 4th quarter. Morgan Stanley now owns 16,647,723 shares of the energy producer’s stock valued at $1,964,432,000 after purchasing an additional 3,497,750 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in shares of ConocoPhillips by 512.8% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,737,026 shares of the energy producer’s stock valued at $433,757,000 after purchasing an additional 3,127,165 shares during the period. Finally, Alphinity Investment Management Pty Ltd acquired a new stake in ConocoPhillips during the 3rd quarter worth approximately $310,102,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

About ConocoPhillips

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.