Investors Buy ConocoPhillips (COP) on Weakness

Traders purchased shares of ConocoPhillips (NYSE:COP) on weakness during trading hours on Thursday. $193.10 million flowed into the stock on the tick-up and $90.47 million flowed out of the stock on the tick-down, for a money net flow of $102.63 million into the stock. Of all stocks tracked, ConocoPhillips had the 18th highest net in-flow for the day. ConocoPhillips traded down ($0.54) for the day and closed at $56.50

Several brokerages have recently weighed in on COP. Zacks Investment Research upgraded ConocoPhillips from a “hold” rating to a “strong-buy” rating and set a $66.00 price target on the stock in a report on Wednesday, January 10th. Credit Suisse Group began coverage on ConocoPhillips in a report on Monday, December 11th. They issued a “neutral” rating and a $50.00 price target on the stock. Barclays set a $71.00 price target on ConocoPhillips and gave the stock a “buy” rating in a report on Sunday, March 4th. Piper Jaffray Companies reiterated a “buy” rating and issued a $63.00 price target on shares of ConocoPhillips in a report on Wednesday, January 24th. Finally, Macquarie began coverage on ConocoPhillips in a report on Wednesday, January 17th. They issued an “outperform” rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. ConocoPhillips currently has an average rating of “Buy” and an average price target of $58.75.

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The firm has a market cap of $64,249.42, a price-to-earnings ratio of -113.00, a P/E/G ratio of 1.64 and a beta of 1.33. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.76 and a quick ratio of 1.64.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, February 1st. The energy producer reported $0.45 EPS for the quarter, hitting the consensus estimate of $0.45. The company had revenue of $8.74 billion for the quarter, compared to the consensus estimate of $7.70 billion. ConocoPhillips had a positive return on equity of 2.81% and a negative net margin of 2.04%. During the same period last year, the business posted ($0.26) EPS. analysts expect that ConocoPhillips will post 2.87 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 1st. Shareholders of record on Monday, February 12th were issued a dividend of $0.285 per share. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.27. This represents a $1.14 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend was Friday, February 9th. ConocoPhillips’s dividend payout ratio (DPR) is presently -228.00%.

ConocoPhillips declared that its board has approved a stock repurchase program on Thursday, February 1st that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the energy producer to purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC boosted its position in ConocoPhillips by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 12,943,419 shares of the energy producer’s stock valued at $709,009,000 after acquiring an additional 192,419 shares in the last quarter. First Eagle Investment Management LLC boosted its position in ConocoPhillips by 3.0% during the 3rd quarter. First Eagle Investment Management LLC now owns 10,608,598 shares of the energy producer’s stock valued at $530,960,000 after acquiring an additional 309,683 shares in the last quarter. Ameriprise Financial Inc. boosted its position in ConocoPhillips by 4.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 8,805,037 shares of the energy producer’s stock valued at $440,689,000 after acquiring an additional 407,471 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in ConocoPhillips by 0.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 8,555,478 shares of the energy producer’s stock valued at $428,199,000 after acquiring an additional 26,579 shares in the last quarter. Finally, Boston Partners boosted its position in ConocoPhillips by 41.6% during the 4th quarter. Boston Partners now owns 8,184,604 shares of the energy producer’s stock valued at $449,252,000 after acquiring an additional 2,403,806 shares in the last quarter. 71.14% of the stock is currently owned by institutional investors and hedge funds.

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ConocoPhillips Company Profile

ConocoPhillips is an independent exploration and production company. The Company explores for, produces, transports and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG) and natural gas liquids. The Company operates through five segments: Alaska, Lower 48, Canada, Europe and North Africa, Asia Pacific and Middle East, and Other International.

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