ConocoPhillips’s Trend Down, Especially After This Options Activity

 ConocoPhillips's Trend Down, Especially After This Options Activity

In today’s session ConocoPhillips (COP) recorded an unusually high (721) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the November, 2016 put, expecting serious COP decrease. With 721 contracts traded and 7574 open interest for the Nov, 16 contract, it seems this is a quite bearish bet. The option with symbol: COP161118P00044000 closed last at: $2.08 or 21.5% down. About 2.60M shares traded hands. ConocoPhillips (NYSE:COP) has risen 8.27% since March 4, 2016 and is uptrending. It has outperformed by 0.23% the S&P500.

Analysts await ConocoPhillips (NYSE:COP) to report earnings on November, 3. They expect $-0.39 EPS, down 2.63% or $0.01 from last year’s $-0.38 per share. After $-0.79 actual EPS reported by ConocoPhillips for the previous quarter, Wall Street now forecasts -50.63% EPS growth.

ConocoPhillips (NYSE:COP) Ratings Coverage

Out of 17 analysts covering ConocoPhillips (NYSE:COP), 9 rate it a “Buy”, 0 “Sell”, while 8 “Hold”. This means 53% are positive. $77 is the highest target while $31 is the lowest. The $49.42 average target is 11.76% above today’s ($44.22) stock price. ConocoPhillips has been the topic of 41 analyst reports since August 4, 2015 according to StockzIntelligence Inc. The rating was initiated by Credit Agricole with “Outperform” on Tuesday, December 15. The rating was maintained by Bank of America on Tuesday, October 20 with “Buy”. The company was downgraded on Thursday, February 4 by Societe Generale. The stock of ConocoPhillips (NYSE:COP) earned “Overweight” rating by Barclays Capital on Tuesday, January 12. Vetr downgraded the shares of COP in a report on Monday, August 31 to “Strong-Buy” rating. The rating was downgraded by Wolfe Research on Thursday, February 11 to “Peer Perform”. The stock of ConocoPhillips (NYSE:COP) earned “Underperform” rating by Jefferies on Thursday, April 21. On Tuesday, March 29 the stock rating was maintained by Deutsche Bank with “Buy”. UBS maintained it with “Neutral” rating and $48 target price in Friday, April 29 report. The firm has “Outperform” rating given on Friday, August 7 by Bernstein.

According to Zacks Investment Research, “ConocoPhillips is a major global exploration and production (E&P) company with operations all over the world. As year-end 2014, the company had estimated proved reserves of 8.9 billion oil-equivalent barrels (BOE). Production from continuing operations, excluding Libya, averaged 1,532 thousand barrels of oil equivalent per day (MBOED) in 2014. In May 2012, ConocoPhillips completed the spin-off of its refining/sales business into a separate, independent and publicly traded company, Phillips 66 (Ticker: PSX).”

Insitutional Activity: The institutional sentiment increased to 0.78 in Q2 2016. Its up 0.10, from 0.68 in 2016Q1. The ratio is positive, as 69 funds sold all ConocoPhillips shares owned while 510 reduced positions. 81 funds bought stakes while 371 increased positions. They now own 776.95 million shares or 3.49% more from 750.77 million shares in 2016Q1.
Ngam Advisors L P holds 116,159 shares or 0.07% of its portfolio. Bridgecreek Ltd Liability, a Oklahoma-based fund reported 6,400 shares. Qs Investors Ltd Liability Company, a New York-based fund reported 27,870 shares. Apg Asset Management Nv last reported 4.39M shares in the company. Moreover, Piedmont Inv Advisors Limited has 0% invested in ConocoPhillips (NYSE:COP) for 281,717 shares. Natl Bank accumulated 0.02% or 1,036 shares. Stearns Fincl Serv Group Inc holds 27,077 shares or 0.34% of its portfolio. Bancorpsouth last reported 0.03% of its portfolio in the stock. Synovus Corporation owns 80,653 shares or 0.08% of their US portfolio. Ifc Hldg Fl, a Florida-based fund reported 19,691 shares. Baltimore owns 86,957 shares or 1.13% of their US portfolio. The Arkansas-based Stephens Ar has invested 0.22% in ConocoPhillips (NYSE:COP). Smith Moore reported 7,464 shares or 0.13% of all its holdings. Iberiabank reported 8,059 shares or 0.16% of all its holdings. Tweedy Browne Limited Liability Corporation has invested 3.16% of its portfolio in ConocoPhillips (NYSE:COP).

Insider Transactions: Since July 29, 2016, the stock had 3 buys, and 0 sales for $957,430 net activity. $496,750 worth of shares were bought by COPELAND JAMES E JR on Monday, August 1. The insider DeSanctis Ellen bought 5,000 shares worth $202,500. Murti Arjun N bought $258,180 worth of stock or 6,500 shares.

ConocoPhillips is an independent exploration and production company. The company has a market cap of $55.53 billion. The Firm explores for, produces, transports and markets crude oil, bitumen, natural gas and liquefied natural gas (LNG). It currently has negative earnings. The Firm operates through six operating divisions, which are primarily defined by geographic region: Alaska; Lower 48; Canada; Europe and North Africa; Asia Pacific and Middle East, and Other International.

COP Company Profile

ConocoPhillips (ConocoPhillips), incorporated on November 16, 2001, is an independent exploration and production company. The Firm explores for, produces, transports and markets crude oil, bitumen, natural gas and liquefied natural gas (LNG) and natural gas liquids on a worldwide basis. The Firm operates through six operating divisions, which are primarily defined by geographic region: Alaska; Lower 48; Canada; Europe and North Africa; Asia Pacific and Middle East, and Other International. The Company’s continuing activities are producing in the United States, Norway, the United Kingdom, Canada, Australia, Timor-Leste, Indonesia, China, Malaysia and Qatar. The Company’s portfolio includes North American unconventional assets and oil sands assets in Canada; assets in North America, Europe, Asia and Australia; several international developments, and an inventory of global conventional and unconventional exploration prospects.

More notable recent ConocoPhillips (NYSE:COP) news were published by: Reuters.com which released: “ConocoPhillips sues Venezuela’s PDVSA, calls bond swap ‘fraudulent'” on October 07, 2016, also Bizjournals.com with their article: “Photos: Tour ConocoPhillips’ new digs at Energy Center Three” published on October 06, 2016, Worldoil.com published: “ConocoPhillips sets Alaska drilling record” on October 05, 2016. More interesting news about ConocoPhillips (NYSE:COP) were released by: Thestreet.com and their article: “ConocoPhillips (COP) Stock Higher, JPMorgan Upgrades” published on September 12, 2016 as well as Thestreet.com‘s news article titled: “ConocoPhillips Keeps Surging Higher — Here’s How to Trade It Now” with publication date: September 30, 2016.

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