Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. ConocoPhillips shares valued at $1,275,849 were sold by Olds Nicholas G on Sep 14. At $116.52 per share, Olds Nicholas G sold 10,950 shares. The insider’s holdings dropped to 0 shares worth approximately $0.0 following the completion of this transaction.
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Also, Lance Ryan Michael sold 584,900 shares, netting a total of over 70,898,186 in proceeds. Following the sale of shares at $121.21 each, the insider now holds 44,522 shares.
Before that, Olds Nicholas G had sold 19,200 shares from its account. In a trade valued at $2,121,742, the Executive Vice President traded ConocoPhillips shares for $110.51 each. Upon closing the transaction, the insider’s holdings decreased to 19,200 shares, worth approximately $0.0.
As published in a research note from BofA Securities on September 19, 2022, ConocoPhillips [COP] has been retained to a Buy and the price target has been revised to $140. This represents a 20.65% premium over Wednesday’s closing price. As of July 19, 2022, BofA Securities has increased its “Neutral” rating to a “Buy” for COP. Earlier on March 08, 2022, BofA Securities downgraded its rating. Their new recommendation was “a Neutral” for COP stock which previously was a “a Buy”.
Analyzing COP’s Price Performance
On Wednesday, ConocoPhillips [NYSE: COP] plunged -0.87% to $111.09. The stock’s lowest price that day was $111.06, but it reached a high of $114.89 in the same session. During the last five days, there has been a drop of approximately -5.62%. Over the course of the year, ConocoPhillips shares have jumped approximately 55.56%. Shares of the company reached a 52-week high of $124.08 on 06/08/22 and a 52-week low of $72.02 on 01/03/22. A 50-day SMA is recorded $101.31, while a 200-day SMA reached $95.61. Nevertheless, trading volume fell to 5.79 million shares from 5.66 million shares the previous day.
Support And Resistance Levels for ConocoPhillips (COP)
According to the 24-hour chart, there is a support level at 109.80, which, if violated, would cause prices to drop to 108.52. In the upper region, resistance lies at 113.63. The next price resistance is at 116.18. RSI (Relative Strength Index) is 54.56 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.39, which suggests the price will decrease in the coming days. Percent R is at 53.56%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is ConocoPhillips subject to short interest?
Stocks of ConocoPhillips saw a sharp steep in short interest on Jul 14, 2022 dropping by -3.36 million shares to 13.89 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 17.25 million shares. A decline of -24.19% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.42 of the overall float, the days-to-cover ratio (short ratio) decline to 1.42.
Which companies own the most shares of ConocoPhillips (COP)?
According to The Vanguard Group, Inc. filings, the company currently owns 107,581,072 shares, which is about 8.45% of the total COP shares outstanding. The investor’s shares have appreciated by 1,641,105 from its previous 13-F filing of 105939967.0 shares. With the completion of the sale transaction, SSgA Funds Management, Inc.’s stake is now worth $6,963,398,458. BlackRock Fund Advisors reduced a -2.88% interest valued at $6.75 billion while Capital Research & Management Co sold a -4,338,174 stake. A total of 6,182,097 shares of ConocoPhillips were sold by JPMorgan Investment Management, I during the quarter, and -1,781,953 were sold by Wellington Management Co. LLP. In its current portfolio, Capital Research & Management Co holds 26,007,131 shares valued at $2.85 billion.
In terms of ConocoPhillips share price expectations, FactSet research, analysts set an average price target of $125.78 in the next 12 months, up nearly 10.65% from the previous closing price of $112.07. Analysts anticipate ConocoPhillips stock to reach $153.00 by 2022, with the lowest price target being $106.00. In spite of this, 28 analysts ranked ConocoPhillips stock as a Buy at the end of 2022. On February 04, 2022, Wells Fargo assigned a price target of “an Overweight” to the stock and reiterated coverage with a $114.