Sunday, April 11, 2021

ConocoPhillips [COP] moved up 2.90: Why It’s Important

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ConocoPhillips [NYSE: COP] traded at a high on 03/24/21, posting a 2.90 gain after which it closed the day’ session at $53.21. The company report on March 10, 2021 that ConocoPhillips 2021 Share Repurchase Program of $1.5 Billion Underway.

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ConocoPhillips (NYSE: COP) announced that it resumed its share repurchase program at an annualized level of $1.5 billion, a 50% increase compared to the level of repurchases underway in the fourth quarter of 2020 when the program was suspended due to the Concho transaction. The company expects to execute the program ratably across all four quarters in 2021. Based on the company’s current outlook for 2021 commodity prices, this level of share repurchases, combined with the ordinary dividend, reflects its long-standing priority to return greater than 30% of cash from operations to shareholders annually.


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“It’s still early in the new year, but commodity prices have strengthened such that our dividend alone may not be sufficient to meet our return of capital commitment,” said Ryan Lance, chairman and chief executive officer. “We will monitor the environment closely and retain the discretion to adjust our share repurchase program, as appropriate. While ’s action reflects a more constructive outlook on 2021, we do not intend to increase our previously announced operating capital program of $5.5 billion. We believe this market will favor companies who demonstrate sustainable discipline and strong free cash flow generation with a track record of predictable returns of capital. At a time of reckoning for the sector, ConocoPhillips’ proven value proposition remains the right one for this volatile business.”.

The results of the trading session contributed to over 9607528 shares changing hands. Over the past one week, the price volatility of ConocoPhillips stands at 3.73% while the volatility over the past one month is 3.88%.

The market cap for COP stock reached $73.15 billion, with 1.07 billion shares outstanding and 1.07 billion shares in the current float. Compared to the average trading volume of 11.12M shares, COP reached a trading volume of 9607528 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about ConocoPhillips [COP]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for COP shares is $60.54 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on COP stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BofA Securities have made an estimate for ConocoPhillips shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on March 15, 2021. While these analysts kept the previous recommendation, Goldman raised their target price to Buy. The new note on the price target was released on February 03, 2021, representing the official price target for ConocoPhillips stock. Previously, the target price had yet another raise to $56, while Scotiabank analysts kept a Sector Outperform rating on COP stock. On January 12, 2021, analysts increased their price target for COP shares from 36 to 56.

The Average True Range (ATR) for ConocoPhillips is set at 2.18, with the Price to Sales ratio for COP stock in the period of the last 12 months amounting to 3.90. The Price to Book ratio for the last quarter was 1.91, with the Price to Cash per share for the same quarter was set at 4.80.

How has COP stock performed recently?

ConocoPhillips [COP] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.37. With this latest performance, COP shares gained by 2.13% in over the last four-week period, additionally plugging by 55.13% over the last 6 months – not to mention a rise of 73.10% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for COP stock in for the last two-week period is set at 49.95, with the RSI for the last a single of trading hit 44.24, and the three-weeks RSI is set at 53.44 for ConocoPhillips [COP]. The present Moving Average for the last 50 days of trading for this stock 49.56, while it was recorded at 52.63 for the last single week of trading, and 41.08 for the last 200 days.

ConocoPhillips [COP]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and ConocoPhillips [COP] shares currently have an operating margin of -9.75 and a Gross Margin at -3.44. ConocoPhillips’s Net Margin is presently recorded at -14.39.

Return on Total Capital for COP is now -3.78, given the latest momentum, and Return on Invested Capital for the company is -5.66. Return on Equity for this stock declined to -8.33, with Return on Assets sitting at -4.06. When it comes to the capital structure of this company, ConocoPhillips [COP] has a Total Debt to Total Equity ratio set at 54.12. Additionally, COP Total Debt to Total Capital is recorded at 35.12, with Total Debt to Total Assets ending up at 25.80. Long-Term Debt to Equity for the company is recorded at 51.29, with the Long-Term Debt to Total Capital now at 33.28.

Reflecting on the efficiency of the workforce at the company, ConocoPhillips [COP] managed to generate an average of -$278,454 per employee. Receivables Turnover for the company is 6.10 with a Total Asset Turnover recorded at a value of 0.28.ConocoPhillips’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.10 and a Current Ratio set at 2.20.

Earnings analysis for ConocoPhillips [COP]

With the latest financial reports released by the company, ConocoPhillips posted 0.45/share EPS, while the average EPS was predicted by analysts to be reported at 0.23/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 95.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for COP. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for ConocoPhillips go to -8.50%.

Insider trade positions for ConocoPhillips [COP]

There are presently around $56,627 million, or 62.40% of COP stock, in the hands of institutional investors. The top three institutional holders of COP stocks are: VANGUARD GROUP INC with ownership of 116,639,770, which is approximately -5.548% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 106,616,875 shares of the stock with an approximate value of $5.67 billion in COP stocks shares; and STATE STREET CORP, currently with $4.09 billion in COP stock with ownership of nearly 5.606% of the company’s market capitalization.

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Positions in ConocoPhillips stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 677 institutional holders increased their position in ConocoPhillips [NYSE:COP] by around 122,036,662 shares. Additionally, 757 investors decreased positions by around 114,124,914 shares, while 149 investors held positions by with 828,051,290 shares. The mentioned changes placed institutional holdings at 1,064,212,866 shares, according to the latest SEC report filing. COP stock had 249 new institutional investments in for a total of 19,183,385 shares, while 99 institutional investors sold positions of 13,639,253 shares during the same period.

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