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

ConocoPhillips (NYSE:COP – Get Rating) was the recipient of unusually large options trading on Friday. Stock traders purchased 30,482 call options on the stock. This represents an increase of approximately 42% compared to the typical volume of 21,427 call options.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock traded down $2.43 during trading hours on Friday, reaching $113.13. The company’s stock had a trading volume of 14,246,328 shares, compared to its average volume of 8,231,245. The company’s 50 day simple moving average is $99.64 and its 200 day simple moving average is $100.79. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.44 and a current ratio of 1.54. ConocoPhillips has a one year low of $56.30 and a one year high of $124.08. The stock has a market cap of $146.33 billion, a P/E ratio of 9.33, a price-to-earnings-growth ratio of 0.39 and a beta of 1.31.

ConocoPhillips (NYSE:COP – Get Rating) last issued its quarterly earnings results on Thursday, August 4th. The energy producer reported $3.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 period in the previous year, the business earned $1.27 EPS. As a group, analysts expect that ConocoPhillips will post 14.68 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

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

Wall Street Analyst Weighs In

Several equities analysts recently issued reports on COP shares. Bank of America raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $135.00 to $134.00 in a research note on Tuesday, July 19th. MKM Partners raised their price target 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. Mizuho dropped their price target on shares of ConocoPhillips from $148.00 to $138.00 and set a “buy” rating for the company in a research report on Thursday, August 18th. Finally, Barclays raised their price target on shares of ConocoPhillips from $142.00 to $153.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 31st. Three 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $121.47.

Insiders Place Their Bets

In other news, EVP Nicholas G. Olds sold 10,950 shares of the firm’s stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $116.52, for a total value of $1,275,894.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.08% of the stock is currently owned by company insiders.

Institutional Trading of ConocoPhillips

A number of hedge funds have recently modified their holdings of the business. Capital World Investors raised its holdings in shares of ConocoPhillips by 62.4% during the first quarter. Capital World Investors now owns 23,463,085 shares of the energy producer’s stock worth $2,346,309,000 after acquiring an additional 9,014,700 shares in the last quarter. FMR LLC raised its holdings in shares of ConocoPhillips by 64.8% during the second quarter. FMR LLC now owns 21,177,310 shares of the energy producer’s stock worth $1,901,935,000 after acquiring an additional 8,323,587 shares in the last quarter. Diamond Hill Capital Management Inc. purchased a new stake in shares of ConocoPhillips during the first quarter worth $702,569,000. BlackRock Inc. raised its holdings in shares of ConocoPhillips by 3.4% during the fourth quarter. BlackRock Inc. now owns 111,073,845 shares of the energy producer’s stock worth $8,017,310,000 after acquiring an additional 3,652,817 shares in the last quarter. Finally, Capital Research Global Investors raised its holdings in shares of ConocoPhillips by 28.2% during the first quarter. Capital Research Global Investors now owns 12,335,053 shares of the energy producer’s stock worth $1,233,506,000 after acquiring an additional 2,715,820 shares in the last quarter. Hedge funds and other institutional investors own 79.66% of the company’s stock.

ConocoPhillips Company Profile

(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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