ConocoPhillips (NYSE:COP) Sees Large Increase in Short Interest

ConocoPhillips (NYSE:COP) was the target of a large growth in short interest during the month of June. As of June 15th, there was short interest totalling 17,940,000 shares, a growth of 10.1% from the May 31st total of 16,290,000 shares. Currently, 1.6% of the shares of the company are short sold. Based on an average daily volume of 5,600,000 shares, the short-interest ratio is currently 3.2 days.

ConocoPhillips Stock Performance

NYSE COP opened at $114.77 on Thursday. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.35. The business’s 50 day moving average is $117.68 and its two-hundred day moving average is $117.61. ConocoPhillips has a 12-month low of $99.35 and a 12-month high of $135.18. The stock has a market capitalization of $134.23 billion, a price-to-earnings ratio of 13.07, a PEG ratio of 2.04 and a beta of 1.24.

ConocoPhillips (NYSE:COP) last released its earnings results 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. The company had revenue of $14.48 billion for the quarter, compared to analysts’ expectations of $14.72 billion. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. Research analysts expect that ConocoPhillips will post 8.89 EPS for the current year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 13th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date was Friday, May 10th. ConocoPhillips’s dividend payout ratio is currently 26.27%.

Wall Street Analysts Forecast Growth

COP has been the subject of several research reports. Morgan Stanley boosted their target price on ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Barclays boosted their target price on ConocoPhillips from $158.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. Royal Bank of Canada boosted their price target on ConocoPhillips from $135.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, May 15th. Raymond James restated a “strong-buy” rating and issued a $159.00 price target (up previously from $155.00) on shares of ConocoPhillips in a research report on Thursday, May 30th. Finally, Wells Fargo & Company boosted their price target on ConocoPhillips from $149.00 to $151.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $144.18.

Institutional Investors Weigh In On ConocoPhillips

A number of institutional investors and hedge funds have recently modified their holdings of COP. Valued Wealth Advisors LLC lifted its stake in shares of ConocoPhillips by 45.8% in the first quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer’s stock worth $33,000 after buying an additional 82 shares in the last quarter. Astoria Portfolio Advisors LLC. lifted its stake in shares of ConocoPhillips by 4.0% in the first quarter. Astoria Portfolio Advisors LLC. now owns 2,232 shares of the energy producer’s stock worth $291,000 after buying an additional 85 shares in the last quarter. Manchester Capital Management LLC lifted its stake in shares of ConocoPhillips by 22.1% in the first quarter. Manchester Capital Management LLC now owns 475 shares of the energy producer’s stock worth $60,000 after buying an additional 86 shares in the last quarter. Evergreen Capital Management LLC lifted its stake in shares of ConocoPhillips by 0.5% in the third quarter. Evergreen Capital Management LLC now owns 18,944 shares of the energy producer’s stock worth $2,270,000 after buying an additional 89 shares in the last quarter. Finally, Adirondack Trust Co. lifted its stake in shares of ConocoPhillips by 3.1% in the fourth quarter. Adirondack Trust Co. now owns 2,990 shares of the energy producer’s stock worth $336,000 after buying an additional 90 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

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.