ConocoPhillips (NYSE:COP) Short Interest Update

ConocoPhillips (NYSE:COP) saw 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 trading volume of 5,600,000 shares, the short-interest ratio is currently 3.2 days. Currently, 1.6% of the shares of the company are sold short.

ConocoPhillips Price Performance

Shares of NYSE:COP traded up $0.65 during trading on Wednesday, reaching $114.77. The company had a trading volume of 2,326,248 shares, compared to its average volume of 5,644,886. ConocoPhillips has a 12 month low of $99.35 and a 12 month high of $135.18. 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 stock has a market capitalization of $134.23 billion, a P/E ratio of 13.07, a price-to-earnings-growth ratio of 2.04 and a beta of 1.24. The company has a fifty day moving average of $117.68 and a two-hundred day moving average of $117.61.

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

ConocoPhillips Announces Dividend

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

Hedge Funds Weigh In On ConocoPhillips

A number of large investors have recently bought and sold shares of the stock. Orion Capital Management LLC bought a new position in ConocoPhillips in the 3rd quarter worth $27,000. West Branch Capital LLC increased its position in ConocoPhillips by 87.8% during the 4th quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock valued at $27,000 after buying an additional 108 shares in the last quarter. Sachetta LLC bought a new stake in ConocoPhillips in the fourth quarter worth $27,000. Cooksen Wealth LLC purchased a new stake in shares of ConocoPhillips in the fourth quarter worth $27,000. Finally, Cape Investment Advisory Inc. increased its holdings in shares of ConocoPhillips by 96.0% during the fourth quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock valued at $29,000 after acquiring an additional 121 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

COP has been the topic of several research reports. Morgan Stanley lifted their price objective on shares of ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Truist Financial boosted their target price on ConocoPhillips from $160.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, June 3rd. Bank of America restated a “buy” rating and issued a $147.00 price objective on shares of ConocoPhillips in a research note on Friday, June 14th. Susquehanna boosted their price target on shares of ConocoPhillips from $133.00 to $154.00 and gave the company a “positive” rating in a research report on Monday, April 22nd. Finally, Wells Fargo & Company raised their price objective on shares of ConocoPhillips from $149.00 to $151.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $144.18.

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.