Stock Traders Buy High Volume of ConocoPhillips Put Options (COP)
ConocoPhillips (NYSE:COP) was the target of unusually large options trading on Tuesday. Traders bought 13,106 put options on the stock, AnalystRatings.Net reports. This represents an increase of approximately 499% compared to the typical daily volume of 2,189 put options.
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 research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $88.87.
Shares of ConocoPhillips (NYSE:COP) traded up 0.72% on Tuesday, hitting $79.91. 5,417,342 shares of the company’s stock traded hands. ConocoPhillips has a 52-week low of $62.74 and a 52-week high of $87.09. The stock has a 50-day moving average of $83.76 and a 200-day moving average of $75.83. The company has a market cap of $98.255 billion and a P/E ratio of 10.75.
ConocoPhillips (NYSE:COP) last released its earnings data on Thursday, July 31st. The company reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.01. During the same quarter in the previous year, the company posted $1.41 earnings per share. On average, analysts predict that ConocoPhillips will post $6.55 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, September 2nd. Shareholders 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 3.65%. The ex-dividend date of this dividend is Thursday, July 17th. This is a positive change 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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