Is Selling ConocoPhillips Here a Winning Strategy? Option Traders Hate The Stock

 Is Selling ConocoPhillips Here a Winning Strategy? Option Traders Hate The Stock

In today’s session ConocoPhillips (COP) recorded an unusually high (1,108) 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 1,108 contracts traded and 38384 open interest for the Nov, 16 contract, it seems this is a quite bearish bet. The option with symbol: COP161118P00041000 closed last at: $0.47 or 17.5% down. About 1.14 million shares traded hands. ConocoPhillips (NYSE:COP) has risen 9.53% since April 5, 2016 and is uptrending. It has outperformed by 7.57% the S&P500.

ConocoPhillips (NYSE:COP) Ratings Coverage

Out of 18 analysts covering ConocoPhillips (NYSE:COP), 10 rate it a “Buy”, 0 “Sell”, while 8 “Hold”. This means 56% are positive. $77 is the highest target while $31 is the lowest. The $49.60 average target is 13.74% above today’s ($43.61) stock price. ConocoPhillips has been the topic of 43 analyst reports since August 4, 2015 according to StockzIntelligence Inc. Jefferies upgraded the shares of COP in a report on Wednesday, September 7 to “Hold” rating. As per Monday, August 24, the company rating was upgraded by Vetr. The stock has “Neutral” rating given by JP Morgan on Monday, July 11. Howard Weil downgraded it to “Sector Perform” rating and $40 target price in Friday, February 5 report. As per Tuesday, August 4, the company rating was downgraded by Oppenheimer. Barclays Capital maintained the shares of COP in a report on Tuesday, January 12 with “Overweight” rating. The firm has “Buy” rating given on Wednesday, December 9 by Argus Research. The rating was maintained by RBC Capital Markets on Friday, February 5 with “Outperform”. As per Friday, February 5, the company rating was maintained by UBS. Barclays Capital maintained ConocoPhillips (NYSE:COP) on Monday, October 12 with “Overweight” rating.

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 improved, 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.
The Illinois-based Roberts Glore And Co Il has invested 0.66% in ConocoPhillips (NYSE:COP). Yhb Inv Advisors holds 0.1% or 10,727 shares in its portfolio. M, a Oregon-based fund reported 5,647 shares. Omers Administration Corp accumulated 0.04% or 41,000 shares. Citadel Limited Liability Co owns 1.33M shares or 0.06% of their US portfolio. Corda Inv Ltd has 0.32% invested in the company for 44,732 shares. The New York-based Spears Abacus Limited Liability has invested 0.1% in ConocoPhillips (NYSE:COP). Burke & Herbert Bank & Tru last reported 0.48% of its portfolio in the stock. Matterhorn Mgmt Ltd Liability Corp accumulated 136,358 shares or 3.77% of the stock. Moreover, Asset Advsrs Corp has 0.2% invested in ConocoPhillips (NYSE:COP) for 21,900 shares. Flossbach Von Storch Ag holds 0.2% of its portfolio in ConocoPhillips (NYSE:COP) for 265,000 shares. Hermes Mngmt Limited accumulated 8,200 shares or 0.01% of the stock. Glg Ltd last reported 21,633 shares in the company. Baldwin Invest Mngmt Limited Liability Com has invested 0.13% of its portfolio in ConocoPhillips (NYSE:COP). The Rhode Island-based Amica Mutual Insurance Com has invested 0.41% in ConocoPhillips (NYSE:COP).

Insider Transactions: Since July 29, 2016, the stock had 3 insider purchases, and 0 sales for $957,430 net activity. Murti Arjun N also bought $258,180 worth of ConocoPhillips (NYSE:COP) on Friday, July 29. DeSanctis Ellen also bought $202,500 worth of ConocoPhillips (NYSE:COP) shares. Shares for $496,750 were bought by COPELAND JAMES E JR on Monday, August 1.

ConocoPhillips is an independent exploration and production company. The company has a market cap of $53.63 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 important recent ConocoPhillips (NYSE:COP) news were published by: Seekingalpha.com which released: “ConocoPhillips – Just About Where It Needs To Be” on November 07, 2016, also Cnbc.com published article titled: “ConocoPhillips posts smaller Q3 loss on cost, production cuts”, Marketwatch.com published: “Exxon, Chevron earnings: What to expect as energy outlook improves” on October 25, 2016. More interesting news about ConocoPhillips (NYSE:COP) was released by: Seekingalpha.com and their article: “ConocoPhillips: A Solid Production Uptick Pre-Programmed For 2017” with publication date: October 31, 2016.

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