On April 3, 2023 at 10:17:25 ET an unusually large $4,220.00K block of Call contracts in ConocoPhillips (COP) was sold, with a strike price of $107.00 / share, expiring in 25 days (on April 28, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 23.33 sigmas above the mean, placing it in the 100.00 percentile of all recent large trades made in COP options.
This trade was first picked up on Fintel’s real time Unusual Option Trades tool, where unusual option trades are highlighted.
Analyst Price Forecast Suggests 36.74% Upside
As of March 30, 2023, the average one-year price target for ConocoPhillips is $135.66. The forecasts range from a low of $92.92 to a high of $162.75. The average price target represents an increase of 36.74% from its latest reported closing price of $99.21.
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The projected annual revenue for ConocoPhillips is $68,746MM, a decrease of 14.68%. The projected annual non-GAAP EPS is $13.16.
What is the Fund Sentiment?
There are 3450 funds or institutions reporting positions in ConocoPhillips. This is an increase of 229 owner(s) or 7.11% in the last quarter. Average portfolio weight of all funds dedicated to COP is 0.65%, a decrease of 6.72%. Total shares owned by institutions decreased in the last three months by 2.69% to 1,235,981K shares. The put/call ratio of COP is 0.84, indicating a bullish outlook.
What are Large Shareholders Doing?
Jpmorgan Chase & holds 58,686K shares representing 4.82% ownership of the company. In it’s prior filing, the firm reported owning 53,743K shares, representing an increase of 8.42%. The firm increased its portfolio allocation in COP by 15.59% over the last quarter.
Wellington Management Group Llp holds 43,593K shares representing 3.58% ownership of the company. In it’s prior filing, the firm reported owning 42,971K shares, representing an increase of 1.42%. The firm decreased its portfolio allocation in COP by 99.98% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 37,878K shares representing 3.11% 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 International Investors holds 34,709K shares representing 2.85% ownership of the company. In it’s prior filing, the firm reported owning 43,372K shares, representing a decrease of 24.96%. The firm decreased its portfolio allocation in COP by 15.11% over the last quarter.
Capital World Investors holds 31,019K shares representing 2.55% ownership of the company. In it’s prior filing, the firm reported owning 32,920K shares, representing a decrease of 6.13%. The firm increased its portfolio allocation in COP by 3.15% over the last quarter.
ConocoPhillips Declares $0.51 Dividend
On February 2, 2023 the company declared a regular quarterly dividend of $0.51 per share ($2.04 annualized). Shareholders of record as of February 14, 2023 received the payment on March 1, 2023. Previously, the company paid $0.51 per share.
At the current share price of $99.21 / share, the stock’s dividend yield is 2.06%. Looking back five years and taking a sample every week, the average dividend yield has been 3.03%, the lowest has been 1.43%, and the highest has been 6.86%. The standard deviation of yields is 1.17 (n=237).
The current dividend yield is 0.84 standard deviations below the historical average.
Additionally, the company’s dividend payout ratio is 0.35. 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.
This article originally appeared on Fintel
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