Short Interest in ConocoPhillips (NYSE:COP) Drops By 7.8%

ConocoPhillips (NYSE:COP) saw a significant decrease in short interest in December. As of December 31st, there was short interest totalling 11,990,000 shares, a decrease of 7.8% from the December 15th total of 13,000,000 shares. Based on an average trading volume of 6,600,000 shares, the short-interest ratio is presently 1.8 days. Currently, 0.9% of the company’s stock are sold short.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, Director Arjun N. Murti purchased 2,500 shares of the stock in a transaction on Friday, December 20th. The shares were purchased at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the purchase, the director now owns 21,500 shares of the company’s stock, valued at approximately $2,061,205. This represents a 13.16 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director R A. Walker bought 10,400 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was bought at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the transaction, the director now owns 38,000 shares of the company’s stock, valued at $3,716,400. The trade was a 37.68 % increase in their position. The disclosure for this purchase can be found here. 0.34% of the stock is owned by insiders.

Institutional Investors Weigh In On ConocoPhillips

A number of institutional investors have recently modified their holdings of COP. Values First Advisors Inc. acquired a new position in shares of ConocoPhillips during the third quarter valued at about $26,000. Albion Financial Group UT lifted its stake in ConocoPhillips by 876.9% during the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after acquiring an additional 228 shares in the last quarter. Reston Wealth Management LLC bought a new position in ConocoPhillips during the 3rd quarter valued at $31,000. Truvestments Capital LLC bought a new stake in shares of ConocoPhillips in the 3rd quarter worth $31,000. Finally, RPg Family Wealth Advisory LLC bought a new stake in shares of ConocoPhillips in the 3rd quarter worth $35,000. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Price Performance

ConocoPhillips stock traded up $0.15 during mid-day trading on Friday, reaching $105.76. The company had a trading volume of 8,546,391 shares, compared to its average volume of 6,479,072. The business has a fifty day simple moving average of $103.79 and a 200 day simple moving average of $107.47. The company has a market cap of $121.72 billion, a P/E ratio of 12.58, a P/E/G ratio of 0.81 and a beta of 1.19. ConocoPhillips has a fifty-two week low of $94.23 and a fifty-two week high of $135.18. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The firm had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. During the same period last year, the firm posted $2.16 earnings per share. The business’s revenue for the quarter was down 8.5% on a year-over-year basis. On average, equities research analysts predict that ConocoPhillips will post 7.7 earnings per share for the current year.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were paid a $0.78 dividend. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.12 annualized dividend and a dividend yield of 2.95%. ConocoPhillips’s dividend payout ratio is presently 37.10%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on COP shares. Scotiabank dropped their price target on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. Susquehanna upped their price objective on shares of ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a report on Friday, November 1st. Barclays raised their target price on shares of ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Wells Fargo & Company decreased their price target on shares of ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, Piper Sandler cut their price objective on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $136.00.

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.