BB&T Corp cut its stake in ConocoPhillips (NYSE:COP) by 2.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 92,677 shares of the energy producer’s stock after selling 1,951 shares during the period. BB&T Corp’s holdings in ConocoPhillips were worth $4,639,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of COP. Wellington Management Group LLP lifted its stake in ConocoPhillips by 255.3% in the first quarter. Wellington Management Group LLP now owns 12,803,885 shares of the energy producer’s stock worth $638,530,000 after acquiring an additional 9,200,014 shares during the period. BlackRock Inc. lifted its stake in ConocoPhillips by 7.8% in the second quarter. BlackRock Inc. now owns 85,821,694 shares of the energy producer’s stock worth $3,772,723,000 after acquiring an additional 6,197,896 shares during the period. FMR LLC lifted its stake in ConocoPhillips by 6.9% in the first quarter. FMR LLC now owns 61,497,903 shares of the energy producer’s stock worth $3,066,900,000 after acquiring an additional 3,982,002 shares during the period. AJO LP lifted its stake in ConocoPhillips by 3,000.7% in the second quarter. AJO LP now owns 2,988,018 shares of the energy producer’s stock worth $131,353,000 after acquiring an additional 2,891,652 shares during the period. Finally, Franklin Resources Inc. lifted its stake in ConocoPhillips by 21.6% in the second quarter. Franklin Resources Inc. now owns 12,025,415 shares of the energy producer’s stock worth $528,635,000 after acquiring an additional 2,134,292 shares during the period. Hedge funds and other institutional investors own 69.87% of the company’s stock.
A number of research firms recently weighed in on COP. Scotiabank reaffirmed a “buy” rating and issued a $53.00 price objective on shares of ConocoPhillips in a research note on Friday, September 29th. Barclays reaffirmed an “overweight” rating and issued a $55.00 price objective (up from $51.00) on shares of ConocoPhillips in a research note on Tuesday, October 10th. BidaskClub lowered shares of ConocoPhillips from a “hold” rating to a “sell” rating in a research note on Thursday, August 17th. Piper Jaffray Companies set a $45.00 price objective on shares of ConocoPhillips and gave the stock a “buy” rating in a research note on Friday, August 25th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $54.00 price objective on shares of ConocoPhillips in a research note on Friday, September 29th. Two 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 given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $55.59.
Shares of ConocoPhillips (COP) opened at $51.57 on Monday. The company has a market cap of $61,652.76, a PE ratio of 2,578.50, a price-to-earnings-growth ratio of 12.67 and a beta of 1.26. ConocoPhillips has a 1 year low of $42.26 and a 1 year high of $54.22. The company has a current ratio of 2.38, a quick ratio of 2.23 and a debt-to-equity ratio of 0.64.
ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, October 26th. The energy producer reported $0.16 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.08. The business had revenue of $7.20 billion during the quarter, compared to analyst estimates of $6.55 billion. ConocoPhillips had a negative net margin of 7.32% and a positive return on equity of 0.12%. During the same period in the prior year, the firm posted ($0.66) earnings per share. equities research analysts predict that ConocoPhillips will post 0.54 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 1st. Shareholders 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 2.06%. The ex-dividend date was Friday, October 13th. ConocoPhillips’s payout ratio is -57.30%.
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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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