Chemical Bank trimmed its holdings in ConocoPhillips (NYSE:COP) by 9.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,205 shares of the energy producer’s stock after selling 4,529 shares during the quarter. Chemical Bank’s holdings in ConocoPhillips were worth $1,899,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Fort Washington Investment Advisors Inc. OH boosted its holdings in shares of ConocoPhillips by 2.8% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 15,982 shares of the energy producer’s stock valued at $703,000 after acquiring an additional 442 shares during the period. Teachers Advisors LLC boosted its holdings in shares of ConocoPhillips by 2.7% in the second quarter. Teachers Advisors LLC now owns 2,129,158 shares of the energy producer’s stock valued at $93,598,000 after acquiring an additional 55,165 shares during the period. Capital Wealth Planning LLC acquired a new stake in shares of ConocoPhillips in the second quarter valued at approximately $428,000. HGK Asset Management Inc. boosted its holdings in shares of ConocoPhillips by 1.1% in the second quarter. HGK Asset Management Inc. now owns 331,954 shares of the energy producer’s stock valued at $14,593,000 after acquiring an additional 3,463 shares during the period. Finally, Summit Global Investments boosted its holdings in shares of ConocoPhillips by 5.8% in the second quarter. Summit Global Investments now owns 9,537 shares of the energy producer’s stock valued at $419,000 after acquiring an additional 527 shares during the period. 70.17% of the stock is owned by hedge funds and other institutional investors.
COP has been the subject of several research analyst reports. Scotiabank reissued a “buy” rating and issued a $52.00 price objective on shares of ConocoPhillips in a report on Friday, September 8th. J P Morgan Chase & Co reissued an “overweight” rating on shares of ConocoPhillips in a report on Saturday, September 16th. Citigroup Inc. decreased their price objective on ConocoPhillips from $65.00 to $57.00 and set a “buy” rating for the company in a report on Friday, July 21st. Royal Bank Of Canada set a $62.00 price objective on ConocoPhillips and gave the company a “buy” rating in a report on Sunday, July 16th. Finally, Jefferies Group LLC set a $54.00 price target on ConocoPhillips and gave the stock a “buy” rating in a research note on Tuesday, August 29th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. ConocoPhillips currently has an average rating of “Hold” and an average target price of $55.37.
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ConocoPhillips (NYSE COP) opened at $52.99 on Friday. ConocoPhillips has a 52-week low of $42.26 and a 52-week high of $54.22. The firm has a market capitalization of $63,350.39, a price-to-earnings ratio of 2,649.50, a PEG ratio of 13.72 and a beta of 1.28. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.38 and a quick ratio of 2.23.
ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, October 26th. The energy producer reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.08. ConocoPhillips had a positive return on equity of 0.12% and a negative net margin of 7.32%. The business had revenue of $7.20 billion during the quarter, compared to analysts’ expectations of $6.55 billion. During the same quarter last year, the business posted ($0.66) earnings per share. sell-side analysts forecast that ConocoPhillips will post 0.52 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Monday, October 16th will be given a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend is Friday, October 13th. ConocoPhillips’s dividend 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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