ConocoPhillips (NYSE:COP) Shares Down 5.3% – Should You Sell?

Shares of ConocoPhillips (NYSE:COP) traded down 5.3% on Wednesday . The stock traded as low as $134.28 and last traded at $133.7980. Approximately 1,681,605 shares changed hands during trading, a decline of 79% from the average session volume of 8,202,760 shares. The stock had previously closed at $141.22.

Key Headlines Impacting ConocoPhillips

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Evercore ISI maintained a Buy rating on ConocoPhillips, reinforcing the bullish analyst view. Recent coverage has generally favored the stock, with a reported median price target of $146. Evercore ISI Remains a Buy on ConocoPhillips
• Positive Sentiment: Brent crude was reported near $103, a favorable backdrop for upstream producers such as COP because higher oil prices can improve revenue, cash flow and earnings expectations. ConocoPhillips remains one of the major energy companies attracting investor attention. Three Major Oil Giants Dominating Energy Portfolios This September
• Positive Sentiment: ConocoPhillips participated in a $135 million funding round for Mazama Energy, a developer of superhot-rock geothermal technology. The investment offers COP exposure to potential long-term energy diversification, although it is unlikely to materially affect near-term earnings. Mazama Energy Raises $135 Million
• Neutral Sentiment: ConocoPhillips sold 43,000 South Texas acres for $1.2 billion. The transaction could support portfolio optimization and capital returns, but the article provided limited detail on the assets’ production, proceeds’ use or earnings impact. ConocoPhillips Sold 43,000 South Texas Acres for $1.2 Billion
• Negative Sentiment: The previous session’s weakness followed a retreat in crude prices, easing Saudi supply concerns and a smaller-than-expected U.S. inventory drawdown. Because COP is an upstream producer, lower oil prices can pressure revenue and margins. ConocoPhillips Stock Falls as Oil Prices Retreat
• Negative Sentiment: QuiverQuant reported seven insider sales and no insider purchases over the past six months, including substantial sales by CEO Ryan Lance. Insider selling may weigh on sentiment, although such transactions do not necessarily indicate deteriorating fundamentals. ConocoPhillips Slides as Oil Pulls Back

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on COP shares. Stifel Nicolaus started coverage on shares of ConocoPhillips in a research report on Thursday, September 10th. They issued a “hold” rating and a $148.00 price target on the stock. Raymond James Financial reaffirmed an “underperform” rating and set a $168.00 price objective on shares of ConocoPhillips in a research report on Monday, August 24th. Truist Financial increased their price objective on shares of ConocoPhillips from $115.00 to $130.00 and gave the stock a “hold” rating in a research note on Monday, August 10th. Weiss Ratings raised shares of ConocoPhillips from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, August 6th. Finally, UBS Group lifted their target price on ConocoPhillips from $153.00 to $169.00 and gave the company a “buy” rating in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $141.24.

ConocoPhillips Stock Up 0.5%

The company has a quick ratio of 1.39, a current ratio of 1.54 and a debt-to-equity ratio of 0.35. The firm’s 50-day moving average price is $125.60 and its 200 day moving average price is $121.10. The firm has a market cap of $159.94 billion, a P/E ratio of 17.61, a price-to-earnings-growth ratio of 1.40 and a beta of 0.13.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, August 6th. The energy producer reported $3.24 earnings per share for the quarter, beating the consensus estimate of $2.90 by $0.34. The firm had revenue of $19.52 billion for the quarter, compared to the consensus estimate of $18.79 billion. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. ConocoPhillips’s quarterly revenue was up 32.4% compared to the same quarter last year. During the same period last year, the firm posted $1.42 EPS. As a group, research analysts expect that ConocoPhillips will post 10.54 earnings per share for the current year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th were issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Monday, August 17th. ConocoPhillips’s payout ratio is 44.44%.

Insider Activity

In other news, SVP Andrew Lundquist sold 9,487 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $135.15, for a total transaction of $1,282,168.05. Following the completion of the transaction, the senior vice president directly owned 9,593 shares in the company, valued at approximately $1,296,493.95. The trade was a 49.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.09% of the company’s stock.

Institutional Trading of ConocoPhillips

Several large investors have recently added to or reduced their stakes in COP. Patten Group Inc. raised its position in ConocoPhillips by 1.5% during the first quarter. Patten Group Inc. now owns 5,447 shares of the energy producer’s stock worth $719,000 after acquiring an additional 83 shares during the last quarter. IFC Advisors LLC grew its position in shares of ConocoPhillips by 0.4% in the first quarter. IFC Advisors LLC now owns 20,182 shares of the energy producer’s stock valued at $2,664,000 after purchasing an additional 84 shares during the last quarter. Cornerstone Planning Group LLC grew its position in shares of ConocoPhillips by 9.6% in the first quarter. Cornerstone Planning Group LLC now owns 1,006 shares of the energy producer’s stock valued at $124,000 after purchasing an additional 88 shares during the last quarter. Blue Trust Inc. increased its stake in shares of ConocoPhillips by 0.4% during the 1st quarter. Blue Trust Inc. now owns 21,144 shares of the energy producer’s stock worth $2,791,000 after purchasing an additional 92 shares in the last quarter. Finally, Sigma Planning Corp increased its stake in shares of ConocoPhillips by 0.6% during the 1st quarter. Sigma Planning Corp now owns 16,062 shares of the energy producer’s stock worth $2,120,000 after purchasing an additional 94 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

About ConocoPhillips

ConocoPhillips (NYSE:COP) is an independent exploration and production company engaged primarily in finding, developing and producing crude oil, natural gas and natural gas liquids. The company sells its production to refiners, utilities, industrial customers and other energy market participants.

Its portfolio includes conventional and unconventional assets, with operations and development activities in the United States, including Alaska and the Lower 48, as well as Canada, Australia, Norway, Qatar and other international locations.