Northwestern Mutual Investment Management Company LLC trimmed its position in shares of ConocoPhillips (NYSE:COP) by 81.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 47,245 shares of the energy producer’s stock after selling 202,570 shares during the quarter. Northwestern Mutual Investment Management Company LLC’s holdings in ConocoPhillips were worth $2,060,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently made changes to their positions in the company. Dimension Capital Management Partners acquired a new stake in ConocoPhillips in the 2nd quarter worth approximately $520,000. Autus Asset Management LLC increased its position in ConocoPhillips by 32.9% in the 2nd quarter. Autus Asset Management LLC now owns 5,987 shares of the energy producer’s stock worth $263,000 after buying an additional 1,481 shares during the period. MUFG Securities EMEA plc bought a new position in ConocoPhillips in the 2nd quarter worth approximately $26,376,000. Cipher Capital LP bought a new position in ConocoPhillips in the 2nd quarter worth approximately $545,000. Finally, Benchmark Capital Advisors increased its position in ConocoPhillips by 0.9% in the 2nd quarter. Benchmark Capital Advisors now owns 11,350 shares of the energy producer’s stock worth $499,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 70.17% of the company’s stock.
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A number of analysts have recently issued reports on the company. Royal Bank Of Canada boosted their price objective on ConocoPhillips from $58.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday. Piper Jaffray Companies restated a “buy” rating and set a $53.00 price objective on shares of ConocoPhillips in a research report on Friday, November 3rd. Scotiabank reiterated a “buy” rating and issued a $53.00 price target on shares of ConocoPhillips in a research report on Wednesday, November 1st. Barclays PLC upped their price target on ConocoPhillips from $55.00 to $59.00 and gave the company an “overweight” rating in a research report on Friday, October 27th. Finally, Wells Fargo & Company boosted their price objective on ConocoPhillips from $57.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, October 27th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $55.37.
Shares of ConocoPhillips (NYSE:COP) traded down $0.54 on Friday, hitting $52.99. The stock had a trading volume of 5,504,500 shares, compared to its average volume of 6,465,522. ConocoPhillips has a one year low of $42.26 and a one year high of $54.22. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.23 and a current ratio of 2.38. The company has a market cap of $63,350.39, a price-to-earnings ratio of 2,649.50, a price-to-earnings-growth ratio of 13.72 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 for the quarter, topping analysts’ consensus estimates of $0.08 by $0.08. The business had revenue of $7.20 billion for the quarter, compared to analyst estimates of $6.55 billion. ConocoPhillips had a positive return on equity of 0.12% and a negative net margin of 7.32%. During the same quarter in the previous year, the company posted ($0.66) EPS. equities analysts expect that ConocoPhillips will post 0.52 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Monday, October 16th will be issued 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 presently -57.30%.
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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