ConocoPhillips (NYSE:COP) Trading Down 5.3% - Should You Sell?

Key Points

• ConocoPhillips shares fell 5.3% to about $133.80, with trading volume significantly below average.
• Despite the decline, analyst sentiment remains positive: the stock has a “Moderate Buy” consensus rating and an average price target of $141.24.
• The company recently beat quarterly earnings and revenue estimates, while maintaining a quarterly dividend of $0.84 per share, equivalent to a 2.5% yield.

ConocoPhillips (NYSE:COP - Get Free Report)'s stock price traded down 5.3% on Wednesday . The stock traded as low as $134.28 and last traded at $133.7980. Approximately 1,681,605 shares changed hands during trading, a decline of 79% from the average daily volume of 8,202,760 shares. The stock had previously closed at $141.22.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Wells Fargo & Company upped their target price on shares of ConocoPhillips from $183.00 to $189.00 and gave the stock an "overweight" rating in a research note on Friday, August 7th. Wall Street Zen raised shares of ConocoPhillips from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Seaport Research Partners began coverage on shares of ConocoPhillips in a research report on Thursday, September 3rd. They set a "neutral" rating on the stock. Susquehanna boosted their price target on shares of ConocoPhillips from $155.00 to $161.00 and gave the stock a "positive" rating in a report on Tuesday, August 11th. Finally, Freedom Capital raised shares of ConocoPhillips from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $141.24.

ConocoPhillips Stock Performance

The firm has a market cap of $161.50 billion, a PE ratio of 17.77, a PEG ratio of 1.44 and a beta of 0.13. The company has a quick ratio of 1.39, a current ratio of 1.54 and a debt-to-equity ratio of 0.35. The company has a 50-day simple moving average of $124.65 and a two-hundred day simple moving average of $120.80.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.90 by $0.34. The firm had revenue of $19.52 billion during the quarter, compared to analyst estimates of $18.79 billion. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%.The business's revenue was up 32.4% compared to the same quarter last year. During the same period last year, the firm posted $1.42 EPS. As a group, equities research analysts forecast that ConocoPhillips will post 10.54 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th were given a $0.84 dividend. The ex-dividend date of this dividend was Monday, August 17th. This represents a $3.36 annualized dividend and a yield of 2.5%. ConocoPhillips's payout ratio is currently 44.44%.

Insiders Place Their Bets

In other news, SVP Andrew Lundquist sold 9,487 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $135.15, for a total transaction of $1,282,168.05. Following the completion of the transaction, the senior vice president directly owned 9,593 shares of the company's stock, valued at $1,296,493.95. This represents a 49.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.09% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ConocoPhillips

Several institutional investors have recently bought and sold shares of the company. Sequoia Financial Advisors LLC increased its position in ConocoPhillips by 0.6% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 63,098 shares of the energy producer's stock valued at $6,560,000 after buying an additional 357 shares in the last quarter. National Pension Service boosted its holdings in ConocoPhillips by 2.3% in the second quarter. National Pension Service now owns 3,291,731 shares of the energy producer's stock worth $342,208,000 after acquiring an additional 74,781 shares in the last quarter. Cidel Asset Management Inc. grew its stake in shares of ConocoPhillips by 0.9% during the second quarter. Cidel Asset Management Inc. now owns 213,080 shares of the energy producer's stock worth $22,152,000 after acquiring an additional 1,878 shares during the last quarter. Capital Analysts LLC grew its stake in shares of ConocoPhillips by 1.0% during the second quarter. Capital Analysts LLC now owns 167,860 shares of the energy producer's stock worth $17,451,000 after acquiring an additional 1,630 shares during the last quarter. Finally, SVB Wealth LLC increased its holdings in shares of ConocoPhillips by 8.3% during the second quarter. SVB Wealth LLC now owns 42,441 shares of the energy producer's stock valued at $4,412,000 after acquiring an additional 3,265 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company's stock.

ConocoPhillips Company Profile

ConocoPhillips NYSE: COP is an independent exploration and production company engaged primarily in finding, developing and producing crude oil, natural gas and natural gas liquids. The company sells its production to refiners, utilities, industrial customers and other energy market participants.

Its portfolio includes conventional and unconventional assets, with operations and development activities in the United States, including Alaska and the Lower 48, as well as Canada, Australia, Norway, Qatar and other international locations.

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