ConocoPhillips Target of Unusually Large Options Trading (NYSE:COP)

ConocoPhillips (NYSE:COPGet Rating) was the target of some unusual options trading activity on Friday. Stock traders bought 30,482 call options on the stock. This is an increase of approximately 42% compared to the average daily volume of 21,427 call options.

Insider Buying and Selling at ConocoPhillips

In related news, EVP Nicholas G. Olds sold 10,950 shares of the stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $116.52, for a total value of $1,275,894.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On ConocoPhillips

Institutional investors have recently bought and sold shares of the business. Delos Wealth Advisors LLC boosted its stake in ConocoPhillips by 1,300.0% in the fourth quarter. Delos Wealth Advisors LLC now owns 378 shares of the energy producer’s stock valued at $27,000 after acquiring an additional 351 shares in the last quarter. James Investment Research Inc. acquired a new stake in ConocoPhillips in the first quarter valued at approximately $29,000. Fairfield Bush & CO. acquired a new stake in ConocoPhillips in the first quarter valued at approximately $31,000. Heritage Financial Services LLC acquired a new stake in ConocoPhillips in the second quarter valued at approximately $36,000. Finally, Apeiron RIA LLC acquired a new stake in ConocoPhillips in the second quarter valued at approximately $36,000. 79.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

COP has been the subject of a number of analyst reports. Piper Sandler increased their price target on shares of ConocoPhillips from $123.00 to $134.00 and gave the company an “overweight” rating in a report on Monday, September 12th. Bank of America raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and lowered their price target for the company from $135.00 to $134.00 in a report on Tuesday, July 19th. MKM Partners increased their price objective on shares of ConocoPhillips from $110.00 to $118.00 and gave the stock a “buy” rating in a research report on Friday, August 26th. StockNews.com lowered shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research report on Tuesday, August 16th. Finally, The Goldman Sachs Group reduced their price objective on shares of ConocoPhillips from $140.00 to $123.00 and set a “buy” rating on the stock in a research report on Wednesday, June 22nd. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, ConocoPhillips has an average rating of “Moderate Buy” and a consensus price target of $121.47.

ConocoPhillips Stock Performance

Shares of COP stock opened at $113.13 on Friday. The firm has a market cap of $146.33 billion, a price-to-earnings ratio of 9.34, a PEG ratio of 0.38 and a beta of 1.31. The company’s 50 day moving average is $100.18 and its 200 day moving average is $100.90. The company has a quick ratio of 1.44, a current ratio of 1.54 and a debt-to-equity ratio of 0.32. ConocoPhillips has a 52-week low of $56.30 and a 52-week high of $124.08.

ConocoPhillips (NYSE:COPGet Rating) last issued its quarterly earnings data on Thursday, August 4th. The energy producer reported $3.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.95 by ($0.04). ConocoPhillips had a net margin of 23.10% and a return on equity of 31.24%. During the same quarter in the previous year, the business earned $1.27 EPS. On average, sell-side analysts anticipate that ConocoPhillips will post 14.68 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a None dividend, which will be paid on Friday, October 14th. Investors of record on Thursday, September 29th will be issued a dividend of $1.40 per share. The ex-dividend date is Thursday, September 29th. ConocoPhillips’s payout ratio is 15.19%.

About ConocoPhillips

(Get Rating)

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. It primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.

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