Stock Traders Buy Large Volume of ConocoPhillips Call Options (NYSE:COP)

ConocoPhillips (NYSE:COP) was the target of some unusual options trading activity on Friday. Investors acquired 91,010 call options on the stock. This represents an increase of 512% compared to the average daily volume of 14,862 call options.

Insider Transactions at ConocoPhillips

In other news, Director William H. Mcraven acquired 5,768 shares of the business’s stock in a transaction on Monday, November 10th. The shares were purchased at an average price of $86.68 per share, for a total transaction of $499,970.24. Following the acquisition, the director directly owned 5,768 shares of the company’s stock, valued at $499,970.24. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.24% of the stock is owned by company insiders.

Institutional Investors Weigh In On ConocoPhillips

A number of hedge funds have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. raised its holdings in shares of ConocoPhillips by 379.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer’s stock valued at $4,210,751,000 after acquiring an additional 31,736,423 shares during the period. Capital International Investors grew its position in ConocoPhillips by 18.2% during the 3rd quarter. Capital International Investors now owns 45,645,397 shares of the energy producer’s stock worth $4,318,239,000 after purchasing an additional 7,037,873 shares in the last quarter. Nuveen LLC acquired a new stake in ConocoPhillips during the 1st quarter valued at $658,981,000. Primecap Management Co. CA raised its stake in ConocoPhillips by 66.0% during the 2nd quarter. Primecap Management Co. CA now owns 7,883,455 shares of the energy producer’s stock valued at $707,461,000 after purchasing an additional 3,135,315 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in shares of ConocoPhillips by 190.5% in the first quarter. AQR Capital Management LLC now owns 4,664,408 shares of the energy producer’s stock valued at $484,539,000 after purchasing an additional 3,058,505 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

COP stock traded up $2.02 during midday trading on Friday, reaching $91.44. The company had a trading volume of 7,627,765 shares, compared to its average volume of 7,690,727. The firm has a market capitalization of $112.99 billion, a PE ratio of 12.27, a P/E/G ratio of 2.36 and a beta of 0.58. The stock has a 50 day moving average price of $90.96 and a 200 day moving average price of $91.94. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $115.38. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, November 6th. The energy producer reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.20. The firm had revenue of $15.03 billion during the quarter, compared to the consensus estimate of $14.51 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The firm’s revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.78 EPS. Analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be paid a $0.84 dividend. The ex-dividend date is Monday, November 17th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.78. This represents a $3.36 annualized dividend and a dividend yield of 3.7%. ConocoPhillips’s dividend payout ratio (DPR) is 47.52%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on COP. Evercore ISI reduced their price target on ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating for the company in a report on Monday, October 6th. JPMorgan Chase & Co. cut their target price on ConocoPhillips from $115.00 to $112.00 and set an “overweight” rating on the stock in a research report on Friday, November 7th. Wolfe Research reiterated an “outperform” rating and set a $131.00 target price on shares of ConocoPhillips in a research note on Thursday, November 6th. Melius initiated coverage on shares of ConocoPhillips in a research report on Wednesday, August 20th. They set a “hold” rating and a $117.00 price target for the company. Finally, Raymond James Financial cut their price target on shares of ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating on the stock in a report on Monday, September 8th. Eighteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, ConocoPhillips presently has a consensus rating of “Moderate Buy” and a consensus price target of $115.33.

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.