Xact Kapitalforvaltning AB lifted its stake in shares of ConocoPhillips (NYSE:COP) by 5.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 105,860 shares of the energy producer’s stock after purchasing an additional 5,836 shares during the period. Xact Kapitalforvaltning AB’s holdings in ConocoPhillips were worth $5,298,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of COP. Nippon Life Insurance Co. lifted its holdings in ConocoPhillips by 5.2% in the third quarter. Nippon Life Insurance Co. now owns 47,919 shares of the energy producer’s stock worth $2,398,000 after acquiring an additional 2,365 shares during the last quarter. Nationwide Fund Advisors lifted its holdings in ConocoPhillips by 3.0% in the third quarter. Nationwide Fund Advisors now owns 734,109 shares of the energy producer’s stock worth $36,742,000 after acquiring an additional 21,254 shares during the last quarter. Advisors Capital Management LLC lifted its holdings in ConocoPhillips by 10.2% in the third quarter. Advisors Capital Management LLC now owns 182,874 shares of the energy producer’s stock worth $9,153,000 after acquiring an additional 16,883 shares during the last quarter. Whittier Trust Co. lifted its holdings in ConocoPhillips by 9.3% in the third quarter. Whittier Trust Co. now owns 13,275 shares of the energy producer’s stock worth $665,000 after acquiring an additional 1,125 shares during the last quarter. Finally, APG Asset Management N.V. lifted its holdings in ConocoPhillips by 1.3% in the third quarter. APG Asset Management N.V. now owns 3,737,768 shares of the energy producer’s stock worth $187,075,000 after acquiring an additional 47,600 shares during the last quarter. 69.87% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Charles E. Bunch acquired 2,000 shares of the stock in a transaction that occurred on Monday, December 11th. The shares were acquired at an average price of $52.06 per share, for a total transaction of $104,120.00. Following the completion of the purchase, the director now directly owns 3,429 shares of the company’s stock, valued at $178,513.74. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.82% of the stock is owned by company insiders.
ConocoPhillips (NYSE:COP) traded up $0.20 during midday trading on Tuesday, hitting $51.89. 1,144,580 shares of the company were exchanged, compared to its average volume of 7,095,786. ConocoPhillips has a fifty-two week low of $42.26 and a fifty-two week high of $54.22. The company has a quick ratio of 2.23, a current ratio of 2.38 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $61,652.76, a price-to-earnings ratio of 2,578.50, a PEG ratio of 12.67 and a beta of 1.26.
ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, October 26th. The energy producer reported $0.16 EPS for the quarter, beating the Zacks’ 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 business had revenue of $7.20 billion for the quarter, compared to analyst estimates of $6.55 billion. During the same quarter last year, the business earned ($0.66) earnings per share. analysts forecast that ConocoPhillips will post 0.54 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Monday, October 16th were paid a dividend of $0.265 per share. The ex-dividend date was Friday, October 13th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.04%. ConocoPhillips’s dividend payout ratio is presently -57.30%.
A number of equities analysts have issued reports on the stock. Royal Bank of Canada raised their target price on shares of ConocoPhillips from $58.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, November 9th. Piper Jaffray Companies reissued a “buy” rating and issued a $53.00 target price on shares of ConocoPhillips in a report on Friday, November 3rd. Credit Suisse Group began coverage on shares of ConocoPhillips in a report on Monday. They issued a “neutral” rating and a $50.00 target price on the stock. Wells Fargo & Company raised their price target on shares of ConocoPhillips from $57.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, October 27th. Finally, Barclays raised their price target on shares of ConocoPhillips from $55.00 to $59.00 and gave the company an “overweight” rating in a research note on Friday, October 27th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $55.00.
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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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