What’s ConocoPhillips Upside After Today’s Bearish Options Activity?

 What's ConocoPhillips Upside After Today's Bearish Options Activity?

In today’s session ConocoPhillips (COP) recorded an unusually high (359) 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 359 contracts traded and 14404 open interest for the Nov, 16 contract, it seems this is a quite bearish bet. The option with symbol: COP161118P00036000 closed last at: $0.27 or 0% . About 2.44M shares traded hands. ConocoPhillips (NYSE:COP) has risen 3.19% since March 15, 2016 and is uptrending. It has underperformed by 2.30% the S&P500.

Analysts await ConocoPhillips (NYSE:COP) to report earnings on November, 3. They expect $-0.39 earnings per share, down 2.63% or $0.01 from last year’s $-0.38 per share. After $-0.79 actual earnings per share 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. ConocoPhillips has been the topic of 41 analyst reports since August 4, 2015 according to StockzIntelligence Inc. The stock has “Underperform” rating given by Jefferies on Thursday, April 21. Credit Agricole initiated the shares of COP in a report on Tuesday, December 15 with “Outperform” rating. The stock has “Perform” rating given by Oppenheimer on Tuesday, August 4. JP Morgan upgraded ConocoPhillips (NYSE:COP) on Monday, July 11 to “Neutral” rating. On Friday, February 5 the stock rating was maintained by UBS with “Neutral”. The rating was upgraded by Jefferies to “Hold” on Wednesday, September 7. The rating was maintained by Citigroup with “Buy” on Friday, April 29. Bernstein maintained ConocoPhillips (NYSE:COP) rating on Friday, February 5. Bernstein has “Outperform” rating and $41 price target. The firm has “Outperform” rating by RBC Capital Markets given on Friday, February 5. As per Tuesday, December 15, the company rating was maintained by JP Morgan.

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 2016 Q2. 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.
Budros Ruhlin And Roe last reported 15,115 shares in the company. Rs Investment Ltd Liability Company has invested 0% of its portfolio in ConocoPhillips (NYSE:COP). Morgan Dempsey Mngmt Ltd Liability Corporation has invested 0% of its portfolio in ConocoPhillips (NYSE:COP). The Connecticut-based Trexquant Lp has invested 0.38% in ConocoPhillips (NYSE:COP). Moreover, Heritage Management Corp has 0.61% invested in ConocoPhillips (NYSE:COP) for 185,459 shares. Bennicas Assocs owns 17,820 shares or 0.7% of their US portfolio. Smith Salley & Assoc holds 0.4% of its portfolio in ConocoPhillips (NYSE:COP) for 39,529 shares. Clarkston Capital Prns Ltd reported 20,001 shares or 0.05% of all its holdings. Manufacturers Life Insurance Company The has 0.1% invested in the company for 1.50M shares. Kanawha Capital Mgmt Lc accumulated 15,905 shares or 0.12% of the stock. The Montana-based Stockman Asset Mgmt has invested 0.57% in ConocoPhillips (NYSE:COP). Burke & Herbert Savings Bank & Tru holds 0.48% or 12,045 shares in its portfolio. Hm Payson Company last reported 140,523 shares in the company. Schwab Charles Inv owns 5.32M shares or 0.29% of their US portfolio. West Coast Financial Llc has invested 0.82% of its portfolio in ConocoPhillips (NYSE:COP).

Insider Transactions: Since July 29, 2016, the stock had 3 insider purchases, and 0 sales for $957,430 net activity. COPELAND JAMES E JR bought 12,500 shares worth $496,750. 5,000 shares were bought by DeSanctis Ellen, worth $202,500. Murti Arjun N had bought 6,500 shares worth $258,180 on Friday, July 29.

ConocoPhillips is an independent exploration and production company. The company has a market cap of $49.60 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: Thestreet.com which released: “Occidental Petroleum and ConocoPhillips Offer Different Advantages for Investors” on October 13, 2016, also Bizjournals.com with their article: “Photos: Tour ConocoPhillips’ new digs at Energy Center Three” published on October 06, 2016, Fool.com published: “Better Buy: ConocoPhillips vs. BP plc” on September 26, 2016. More interesting news about ConocoPhillips (NYSE:COP) were released by: Chron.com and their article: “From chance meeting, ConocoPhillips emerged as oil major” published on September 28, 2016 as well as Thestreet.com‘s news article titled: “ConocoPhillips (COP) Stock Down, Sues Venezuela Oil Firm Over Bond Swaps” with publication date: October 07, 2016.

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