Cincinnati Insurance Co. decreased its position in ConocoPhillips (NYSE:COP) by 36.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 350,000 shares of the energy producer’s stock after selling 197,529 shares during the period. Cincinnati Insurance Co.’s holdings in ConocoPhillips were worth $15,386,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of COP. Waldron LP lifted its holdings in shares of ConocoPhillips by 44.5% in the 1st quarter. Waldron LP now owns 7,072 shares of the energy producer’s stock worth $350,000 after acquiring an additional 2,178 shares during the last quarter. Solaris Asset Management LLC lifted its holdings in shares of ConocoPhillips by 0.8% in the 1st quarter. Solaris Asset Management LLC now owns 84,133 shares of the energy producer’s stock worth $4,196,000 after acquiring an additional 633 shares during the last quarter. Elkfork Partners LLC lifted its holdings in shares of ConocoPhillips by 27.0% in the 1st quarter. Elkfork Partners LLC now owns 17,688 shares of the energy producer’s stock worth $882,000 after acquiring an additional 3,762 shares during the last quarter. Point View Wealth Management Inc. lifted its holdings in shares of ConocoPhillips by 7.9% in the 1st quarter. Point View Wealth Management Inc. now owns 27,487 shares of the energy producer’s stock worth $1,371,000 after acquiring an additional 2,018 shares during the last quarter. Finally, Harbour Investment Management LLC acquired a new stake in ConocoPhillips during the 1st quarter worth approximately $999,000. 70.17% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have issued reports on COP shares. Wolfe Research lowered shares of ConocoPhillips from an “outperform” rating to a “market perform” rating in a report on Monday, July 17th. Zacks Investment Research lowered shares of ConocoPhillips from a “hold” rating to a “sell” rating in a report on Monday, July 17th. Royal Bank of Canada set a $62.00 target price on shares of ConocoPhillips and gave the stock a “buy” rating in a report on Sunday, July 16th. Cowen and Company set a $55.00 target price on shares of ConocoPhillips and gave the stock a “buy” rating in a report on Tuesday, July 18th. Finally, Citigroup Inc. reduced their target price on shares of ConocoPhillips from $65.00 to $57.00 and set a “buy” rating on the stock in a report on Friday, July 21st. Four analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. ConocoPhillips presently has a consensus rating of “Hold” and an average target price of $55.37.
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Shares of ConocoPhillips (NYSE COP) traded down $0.54 during trading on Friday, reaching $52.99. 5,504,500 shares of the company’s stock traded hands, compared to its average volume of 7,219,794. ConocoPhillips has a 52 week low of $42.26 and a 52 week high of $54.22. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.38 and a quick ratio of 2.23. The stock has a market cap of $63,995.97, a P/E ratio of 2,676.50, a P/E/G ratio of 13.86 and a beta of 1.28.
ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, October 26th. The energy producer reported $0.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.08. ConocoPhillips had a negative net margin of 7.32% and a positive return on equity of 0.12%. The company had revenue of $7.20 billion for the quarter, compared to the consensus estimate of $6.55 billion. During the same period last year, the firm posted ($0.66) EPS. sell-side analysts anticipate that ConocoPhillips will post 0.52 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Monday, October 16th will be given a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Friday, October 13th. ConocoPhillips’s payout ratio is currently -57.30%.
ConocoPhillips Company Profile
ConocoPhillips is an independent exploration and production company. The Company explores for, produces, transports and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG) and natural gas liquids. The Company operates through five segments: Alaska, Lower 48, Canada, Europe and North Africa, Asia Pacific and Middle East, and Other International.
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