ConocoPhillips (NYSE:COP) Shares Down 4.7% – Should You Sell?

Shares of ConocoPhillips (NYSE:COP) dropped 4.7% during trading on Monday . The stock traded as low as $106.32 and last traded at $106.55. Approximately 5,779,918 shares were traded during trading, a decline of 2% from the average daily volume of 5,903,721 shares. The stock had previously closed at $111.75.

Analyst Ratings Changes

COP has been the subject of a number of analyst reports. Wells Fargo & Company restated a “sector perform” rating on shares of ConocoPhillips in a research note on Friday, October 18th. Truist Financial cut their target price on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, September 30th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $126.00 price target (down from $139.00) on shares of ConocoPhillips in a research report on Friday, October 11th. Barclays boosted their price objective on ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Finally, Scotiabank lowered their target price on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. Six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $137.63.

ConocoPhillips Trading Up 0.6 %

The business’s 50 day moving average price is $108.86 and its 200-day moving average price is $110.98. The company has a market cap of $123.63 billion, a price-to-earnings ratio of 12.77, a PEG ratio of 0.87 and a beta of 1.21. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.10. The firm had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The company’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.16 earnings per share. On average, research analysts forecast that ConocoPhillips will post 7.76 EPS for the current year.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 11th will be paid a $0.78 dividend. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date is Friday, November 8th. This represents a $3.12 annualized dividend and a yield of 2.90%. ConocoPhillips’s payout ratio is currently 37.10%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Franklin Resources Inc. increased its position in shares of ConocoPhillips by 12.5% during the 3rd quarter. Franklin Resources Inc. now owns 13,557,351 shares of the energy producer’s stock worth $1,469,163,000 after purchasing an additional 1,506,599 shares in the last quarter. Synovus Financial Corp increased its holdings in shares of ConocoPhillips by 1.3% during the third quarter. Synovus Financial Corp now owns 45,995 shares of the energy producer’s stock worth $4,842,000 after buying an additional 582 shares in the last quarter. Tidal Investments LLC raised its stake in shares of ConocoPhillips by 42.7% in the third quarter. Tidal Investments LLC now owns 103,553 shares of the energy producer’s stock valued at $10,902,000 after acquiring an additional 31,011 shares during the last quarter. Arvest Bank Trust Division acquired a new position in shares of ConocoPhillips in the 3rd quarter worth approximately $11,549,000. Finally, World Investment Advisors LLC grew its position in ConocoPhillips by 746.7% during the 3rd quarter. World Investment Advisors LLC now owns 43,928 shares of the energy producer’s stock worth $4,625,000 after acquiring an additional 38,740 shares during the last quarter. 82.36% of the stock is owned by institutional investors.

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.