ConocoPhillips (NYSE:COP) Short Interest Update

ConocoPhillips (NYSE:COP) was the target of a significant growth in short interest during the month of 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. Approximately 1.9% of the company’s stock are short sold. Based on an average daily volume of 6,830,000 shares, the days-to-cover ratio is currently 3.6 days.

ConocoPhillips Trading Down 0.1 %

NYSE COP traded down $0.09 on Tuesday, reaching $106.05. The stock had a trading volume of 5,861,303 shares, compared to its average volume of 5,998,912. ConocoPhillips has a 12-month low of $101.29 and a 12-month high of $135.18. The stock has a fifty day moving average price of $108.77 and a two-hundred day moving average price of $110.72. The firm has a market capitalization of $122.05 billion, a price-to-earnings ratio of 12.61, a P/E/G ratio of 0.87 and a beta of 1.18. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34.

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

ConocoPhillips Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Royal Bank of Canada restated an “outperform” rating and set a $140.00 target price on shares of ConocoPhillips in a research report on Friday, September 13th. Susquehanna boosted their price objective on ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a report on Friday, November 1st. Barclays lifted their price target on ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Truist Financial lowered their target price on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $126.00 price target (down previously from $139.00) on shares of ConocoPhillips in a research report on Friday, October 11th. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $137.63.

Institutional Trading of ConocoPhillips

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in COP. Values First Advisors Inc. acquired a new position in ConocoPhillips during the third quarter worth approximately $26,000. Stephens Consulting LLC increased its position in ConocoPhillips by 69.3% in the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after acquiring an additional 104 shares during the period. Reston Wealth Management LLC purchased a new position in shares of ConocoPhillips in the 3rd quarter valued at approximately $31,000. Truvestments Capital LLC acquired a new position in shares of ConocoPhillips in the third quarter valued at approximately $31,000. Finally, Y.D. More Investments Ltd purchased a new stake in shares of ConocoPhillips during the second quarter worth approximately $35,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

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.