ConocoPhillips Short Interest Down 9.7% in July (COP)
Shares of ConocoPhillips (NYSE:COP) were the recipient of a large drop in short interest during the month of July. As of July 31st, there was short interest totalling 22,906,601 shares, a drop of 9.7% from the July 15th total of 25,379,340 shares, Analyst RN reports. Currently, 1.9% of the shares of the stock are sold short. Based on an average trading volume of 4,910,283 shares, the days-to-cover ratio is currently 4.7 days.
A number of analysts have recently weighed in on COP shares. Analysts at Simmons upgraded shares of ConocoPhillips from a “neutral” rating to an “overweight” rating in a research note on Wednesday, August 13th. Separately, analysts at Argus reiterated a “buy” rating on shares of ConocoPhillips in a research note on Thursday, August 7th. They now have a $92.00 price target on the stock, up previously from $90.00. Finally, analysts at Barclays reiterated an “overweight” rating on shares of ConocoPhillips in a research note on Friday, July 25th. They now have a $108.00 price target on the stock, up previously from $100.00. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $88.87.
Shares of ConocoPhillips (NYSE:COP) opened at 79.34 on Tuesday. ConocoPhillips has a one year low of $62.74 and a one year high of $87.09. The stock’s 50-day moving average is $83.76 and its 200-day moving average is $75.83. The company has a market cap of $97.554 billion and a P/E ratio of 10.93.
ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, July 31st. The company reported $1.61 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.60 by $0.01. During the same quarter in the prior year, the company posted $1.41 earnings per share. Analysts expect that ConocoPhillips will post $6.56 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, September 2nd. Investors of record on Monday, July 21st will be given a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date of this dividend is Thursday, July 17th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.69.
ConocoPhillips is an independent exploration and production (NYSE:COP) company, based on proved reserves and production of liquids and natural gas.
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