Capital Research & Management Co has recently announced that it has increased stake in Conoco Phillips (NYSE:COP) by 0.96%. After grabbing 26.21 million shares, the institutional investor is now in possession of 0.25 million shares of the Energy Company. The new investment brought the stake of investor firm to 2.21% having worth around $3.03 billion. Moreover, Geode Capital Management LLC increased its share by 0.21 million to have a control over 22.96 million shares.
Conoco Phillips (COP) concluded trading on 01/03/24 at a closing price of $119.93, with 4.88 million shares of worth about $585.47 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 15.87% during that period and on Wednesday the price saw a gain of about 1.99%. Currently the company’s common shares owned by public are about 1.22B shares, out of which, 1.19B shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 30 analysts are covering the COP stock and their offered price forecasts bring an average price target of $137.50. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $164.00 and could fall to a lowest price of $117.00. The stock’s current price level is 12.78% above of average price target set by the analysts, while a rise to estimated low would result in loss of -2.5% for the stock. However, touching the estimated high of $164.00 would mean a gain of 26.87% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 64 times over the past 12 months. They bought 1,302,873 shares in 28 of the transactions. In 36 selling transactions, insiders dumped 1,294,048 shares.
Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and SPDR Series – Energy Select Secto are the top 3 mutual funds which are holding stakes in Conoco Phillips Vanguard Total Stock Market ETF is currently holding 37.54 million shares of worth totaling $4.34 billion. The company recently came buying 52283.0 shares which brought its stake up to 3.16% of the company’s outstanding shares. Vanguard 500 Index Fund bought 0.14 million shares, after which its hold over company’s outstanding shares expand to 2.44%, leaving 28.92 million shares with the mutual fund that have a worth of about $3.34 billion. SPDR Series – Energy Select Secto, after selling 14.63 million shares, have now control over 1.23% of the stake in the company. It holds -0.16 million shares of worth $1.69 billion.
Conoco Phillips (NYSE: COP) started trading at $117.95, above $0.36 from concluding price of the previous day. However, the stock later moved at a day high price of 120.18, or with a gain of 1.99%. Stock saw a price change of 0.76% in past 5 days and over the past one month there was a price change of 4.08%. Year-to-date (YTD), COP shares are showing a performance of 3.33% which increased to 3.40% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $89.98 but also hit the highest price of $127.35 during that period. The average intraday trading volume for Conoco Phillips shares is 5.87 million. The stock is currently trading 4.47% above its 20-day simple moving average (SMA20), while that difference is up 3.40% for SMA50 and it goes to 8.39% higher than SMA200.
Capital Research & Management Co acquired 26.21 million shares of Conoco Phillips having value of about $3.03 billion. Data submitted at the U.S SEC by Capital Research & Management Co revealed that the firm now holds 0.25 million shares in the company valued at close to $29828749.74, or have control over 0.96% stake in the company. Conoco Phillips (NYSE: COP) currently have 1.22B outstanding shares and institutions hold larger chunk of about 82.95% of that. Holding of mutual funds in the company is about 33.80% while other institutional holders and individual stake holders have control over 49.36% and 0.46% of the stake respectively.
The stock has a current market capitalization of $142.41B and its 3Y-monthly beta is at 1.24. PE ratio of stock for trailing 12 months is 13.10, while it has posted earnings per share of $9.15 in the same period. It has Quick Ratio of 1.53 while making debt-to-equity ratio of 0.40. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for COP, volatility over the week remained 1.67% while standing at 1.68% over the month.
Analysts are in expectations that Conoco Phillips (COP) stock would likely to be making an EPS of $2.48 in the current quarter, while forecast for next quarter EPS is $2.48 and it is $10.09 for next year. For the current quarter EPS, analysts have given the company a lowest target $2.09 which is $3.51 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $2.71 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -34.50% while it is estimated to increase by 12.78% in next year.
Analysts at 30 brokerage firms have issued recommendations for the Conoco Phillips (COP)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.50. Out of those 30 Wall Street analysts, 21 recommended a “Buy” rating, while 6 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
