ConocoPhillips (NYSE:COP) Sees Significant Growth in Short Interest

ConocoPhillips (NYSE:COP) was the recipient of a significant increase in short interest in June. As of June 15th, there was short interest totalling 17,940,000 shares, an increase of 10.1% from the May 31st total of 16,290,000 shares. Based on an average daily trading volume, of 5,600,000 shares, the short-interest ratio is presently 3.2 days. Approximately 1.6% of the shares of the stock are short sold.

ConocoPhillips Stock Down 0.0 %

Shares of NYSE:COP opened at $114.37 on Tuesday. ConocoPhillips has a 52 week low of $99.35 and a 52 week high of $135.18. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.21 and a current ratio of 1.35. The company has a market capitalization of $133.76 billion, a PE ratio of 12.95, a PEG ratio of 2.04 and a beta of 1.24. The company has a 50 day moving average price of $118.30 and a two-hundred day moving average price of $117.62.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, May 2nd. The energy producer reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.04. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. The company had revenue of $14.48 billion during the quarter, compared to the consensus estimate of $14.72 billion. Analysts forecast that ConocoPhillips will post 8.89 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 13th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 2.73%. The ex-dividend date was Friday, May 10th. ConocoPhillips’s dividend payout ratio is 26.27%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Orion Capital Management LLC bought a new position in ConocoPhillips in the third quarter valued at $27,000. West Branch Capital LLC lifted its stake in ConocoPhillips by 87.8% in the fourth quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock valued at $27,000 after acquiring an additional 108 shares during the last quarter. Cooksen Wealth LLC acquired a new stake in ConocoPhillips in the fourth quarter valued at $27,000. Sachetta LLC acquired a new stake in ConocoPhillips in the fourth quarter valued at $27,000. Finally, Richardson Capital Management LLC acquired a new stake in ConocoPhillips in the first quarter valued at $31,000. Institutional investors own 82.36% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on COP. Royal Bank of Canada upped their target price on shares of ConocoPhillips from $135.00 to $140.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 15th. Barclays upped their target price on shares of ConocoPhillips from $158.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Piper Sandler upped their target price on shares of ConocoPhillips from $145.00 to $157.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Raymond James reiterated a “strong-buy” rating and set a $159.00 target price (up from $155.00) on shares of ConocoPhillips in a research report on Thursday, May 30th. Finally, Bank of America reiterated a “buy” rating and set a $147.00 target price on shares of ConocoPhillips in a research report on Friday, June 14th. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and a consensus target price of $144.18.

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.