This article first appeared on GuruFocus.
In Wednesday’s session, 47 ETFs were buying ConocoPhillips (COP) versus 16 selling, yet the net dollar value came to $22.9 million in selling because more funds traded the other way in smaller amounts. The move snapped a run of net buying across the prior four sessions, which totaled $18.6 million, $13.5 million, $42.7 million and $23.2 million on Nov. 3, Nov. 2, Oct. 30 and Oct. 29, respectively. ETF activity left 132 funds holding the stock. The selling streak stands at 1 day.
See all ETF and guru trades in COP on its COP guru trades page.
Which ETFs sold COP on Wednesday?
The largest sellers by dollar value were XLE ($22.4 million), SPY ($13.4 million) and IXC ($5.3 million). In all, 47 ETFs added shares and 16 cut them.
The Energy Select Sector SPDR Fund (XLE) accounted for the largest share of the move, with a $22.4 million decrease in value and a 0.75% cut to its stake, holding 21,727,695 shares at a 7.16% weight. SPDR S&P 500 ETF Trust (SPY) trimmed $13.4 million in value, while iShares Global Energy ETF (IXC) reduced its stake by 3.88%, a $5.3 million decline. ProShares Ultra S&P500 (SSO) cut 14.88% of its position for a $2.1 million decrease. ConocoPhillips operates in the Energy sector, within the Oil & Gas E&P industry, and carries a market cap of $162.7 billion.
Have ETFs been buying or selling COP lately?
Over the last 5 reported days, ETFs were net buyers on 4 and net sellers on 1, 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%. The stock trades at a P/E of 17.95, a P/B of 2.49 and a P/S of 2.64, against a market cap of $162.7 billion. Its GF Score is 77, and the GF Value of $130.12 compares with a price of $135.46. The dividend yield is 2.75%, and the year-to-date return is 47.9%.
Source: finance.yahoo.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.
