Hermes Investment Management Ltd. grew its stake in shares of ConocoPhillips (NYSE:COP) by 24.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,200 shares of the energy producer’s stock after acquiring an additional 2,000 shares during the quarter. Hermes Investment Management Ltd.’s holdings in ConocoPhillips were worth $511,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of ConocoPhillips by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 90,547,596 shares of the energy producer’s stock worth $3,980,473,000 after purchasing an additional 1,694,618 shares during the period. BlackRock Inc. grew its holdings in shares of ConocoPhillips by 7.8% during the 2nd quarter. BlackRock Inc. now owns 85,821,694 shares of the energy producer’s stock worth $3,772,723,000 after purchasing an additional 6,197,896 shares during the period. State Street Corp grew its holdings in shares of ConocoPhillips by 3.9% during the 1st quarter. State Street Corp now owns 65,388,296 shares of the energy producer’s stock worth $3,260,918,000 after purchasing an additional 2,452,533 shares during the period. FMR LLC grew its holdings in shares of ConocoPhillips by 6.9% during the 1st quarter. FMR LLC now owns 61,497,903 shares of the energy producer’s stock worth $3,066,900,000 after purchasing an additional 3,982,002 shares during the period. Finally, Macquarie Group Ltd. grew its holdings in shares of ConocoPhillips by 1.1% during the 1st quarter. Macquarie Group Ltd. now owns 15,981,830 shares of the energy producer’s stock worth $797,013,000 after purchasing an additional 176,055 shares during the period. 69.87% of the stock is owned by institutional investors.
ConocoPhillips (NYSE:COP) opened at $50.54 on Friday. ConocoPhillips has a 52-week low of $42.26 and a 52-week high of $54.22. The stock has a market capitalization of $60,230.10, a P/E ratio of 2,519.00, a price-to-earnings-growth ratio of 12.37 and a beta of 1.26. 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 posted its quarterly earnings results on Thursday, October 26th. The energy producer reported $0.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate 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 period in the prior year, the company posted ($0.66) EPS. equities research analysts anticipate that ConocoPhillips will post 0.54 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Monday, October 16th were given a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend was Friday, October 13th. ConocoPhillips’s dividend payout ratio is currently -57.30%.
A number of research firms have weighed in on COP. Scotiabank restated a “buy” rating and issued a $52.00 price target on shares of ConocoPhillips in a report on Friday, September 8th. J P Morgan Chase & Co restated an “overweight” rating on shares of ConocoPhillips in a report on Saturday, September 16th. Royal Bank Of Canada upped their price target on ConocoPhillips from $58.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, November 9th. Jefferies Group set a $54.00 price target on ConocoPhillips and gave the stock a “buy” rating in a report on Tuesday, August 29th. Finally, Barclays upped their price target on ConocoPhillips from $55.00 to $59.00 and gave the stock an “overweight” rating in a report on Friday, October 27th. Two 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. The company currently has an average rating of “Buy” and a consensus target price of $55.59.
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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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