This article first appeared on GuruFocus.
ConocoPhillips (COP) snapped a two-day net-selling streak on Thursday, when ETF flows turned positive. ETFs bought a net $23.2 million of the stock, with 34 funds adding shares and 17 trimming positions. The prior two sessions saw net outflows of $8.2 million on Oct. 28 and $14.6 million on Oct. 27, following net buying of $3.8 million on Oct. 26 and $26.9 million on Oct. 23.
See all ETF and guru trades in COP on its COP guru trades page.
Which ETFs bought COP on Thursday?
The largest buyers by dollar value were XLE ($18.7 million), CGBL ($0.9 million) and IYE ($0.9 million). In all, 34 ETFs added shares and 17 cut them.
Energy Select Sector SPDR (XLE) drove the move, adding 124,350 shares worth $18.7 million, a 0.57% stake change at a 7.24% portfolio weight. CGBL added 5,969 shares for $0.9 million, IYE added 5,886 shares for $0.9 million, and IWD added 4,576 shares for $0.7 million. ConocoPhillips is an Energy sector company in Oil & Gas E&P with a market cap of $185.0 billion.
Have ETFs been buying or selling COP lately?
Over the last 5 reported days, ETFs were net buyers on 3 and net sellers on 2, so the recent trend is mostly buying.
What does COP do?
ConocoPhillips is the world’s largest independent exploration and production company, focused entirely on upstream oil and gas after spinning off its refining business as Phillips 66 in 2012.
ConocoPhillips reported trailing-12-month revenue of $63.13 billion, up 9.4% over one year, with a gross margin of 27.2% and a net margin of 14.7%. It trades at a P/E of 20.41, P/B of 2.83 and P/S of 3.0. Its GF Score is 76, and the GF Value of $129.11 compares with a price of $154.03. The dividend yield is 2.43%, and the stock is up 68.17% year to date.
COP at a glance
Investors following COP can review its GF Value, guru trades and insider activity on the <a href="https://www.gurufocus.com/stock/COP/summary?ref=etf-stock&r=caf6fe0e0db70d936033da5461e60141&utm_source=yahoo_finance&utm_medium=syndication&utm_campaign=headlines&utm_content=etfs_are_buying_co
Source: finance.yahoo.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.
