On May 17, 2023 at 14:34:05 ET an unusually large $4,315.75K block of Put contracts in Conoco Phillips (COP) was sold, with a strike price of $115.00 / share, expiring in 30 day(s) (on June 16, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 6.96 sigmas above the mean, placing it in the 100.00th percentile of all recent large trades made in COP options.
This trade was first picked up on Fintel’s real time Options Flow tool, where unusual option trades are highlighted.
What is the Fund Sentiment?
There are 3396 funds or institutions reporting positions in Conoco Phillips. This is unchanged over the last quarter. Average portfolio weight of all funds dedicated to COP is 0.64%, an increase of 2.84%. Total shares owned by institutions decreased in the last three months by 2.86% to 1,214,593K shares. The put/call ratio of COP is 0.94, indicating a bullish outlook.
Analyst Price Forecast Suggests 36.46% Upside
As of May 11, 2023, the average one-year price target for Conoco Phillips is 133.82. The forecasts range from a low of 92.92 to a high of $173.25. The average price target represents an increase of 36.46% from its latest reported closing price of 98.07.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Conoco Phillips is 68,746MM, a decrease of 11.52%. The projected annual non-GAAP EPS is 13.16.
What are Other Shareholders Doing?
Jpmorgan Chase holds 59,267K shares representing 4.90% ownership of the company. In it’s prior filing, the firm reported owning 58,686K shares, representing an increase of 0.98%. The firm decreased its portfolio allocation in COP by 90.35% over the last quarter.
Wellington Management Group Llp holds 44,731K shares representing 3.70% ownership of the company. In it’s prior filing, the firm reported owning 43,593K shares, representing an increase of 2.55%. The firm decreased its portfolio allocation in COP by 87.97% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 37,878K shares representing 3.13% ownership of the company. In it’s prior filing, the firm reported owning 37,990K shares, representing a decrease of 0.30%. The firm increased its portfolio allocation in COP by 6.17% over the last quarter.
Capital World Investors holds 29,099K shares representing 2.40% ownership of the company. In it’s prior filing, the firm reported owning 31,019K shares, representing a decrease of 6.60%. The firm decreased its portfolio allocation in COP by 23.52% over the last quarter.
VFINX – Vanguard 500 Index Fund Investor Shares holds 28,806K shares representing 2.38% ownership of the company. In it’s prior filing, the firm reported owning 28,859K shares, representing a decrease of 0.18%. The firm increased its portfolio allocation in COP by 6.03% over the last quarter.
Conoco Phillips Declares $0.51 Dividend
On May 4, 2023 the company declared a regular quarterly dividend of $0.51 per share ($2.04 annualized). Shareholders of record as of May 16, 2023 will receive the payment on June 1, 2023. Previously, the company paid $0.51 per share.
At the current share price of $98.07 / share, the stock’s dividend yield is 2.08%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.14%, the lowest has been 1.43%, and the highest has been 6.86%. The standard deviation of yields is 1.21 (n=237).
The current dividend yield is 0.88 standard deviations below the historical average.
Additionally, the company’s dividend payout ratio is 0.42. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company’s 3-Year dividend growth rate is 2.24%, demonstrating that it has increased its dividend over time.
Conoco Phillips Background Information
(This description is provided by the company.)
Headquartered in Houston, Texas, ConocoPhillips had operations and activities in 15 countries, $63 billion of total assets, and approximately 9,800 employees at Sept. 30, 2020. Production excluding Libya averaged 1,108 MBOED for the nine months ended Sept. 30, 2020, and proved reserves were 5.3 BBOE as of Dec. 31, 2019.
Key filings for this company:
This article originally appeared on Fintel
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