BB&T Investment Services Inc. lessened its position in shares of ConocoPhillips (NYSE:COP) by 42.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,551 shares of the energy producer’s stock after selling 4,927 shares during the period. BB&T Investment Services Inc.’s holdings in ConocoPhillips were worth $328,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently bought and sold shares of COP. Financial Management Professionals Inc. increased its holdings in shares of ConocoPhillips by 0.3% in the 2nd quarter. Financial Management Professionals Inc. now owns 2,294 shares of the energy producer’s stock worth $100,000 after buying an additional 6 shares during the last quarter. First Command Bank increased its holdings in shares of ConocoPhillips by 9.4% in the 2nd quarter. First Command Bank now owns 2,313 shares of the energy producer’s stock worth $101,000 after buying an additional 199 shares during the last quarter. Krilogy Financial LLC increased its holdings in shares of ConocoPhillips by 48.6% in the 2nd quarter. Krilogy Financial LLC now owns 2,392 shares of the energy producer’s stock worth $105,000 after buying an additional 782 shares during the last quarter. Clear Perspective Advisors LLC increased its holdings in shares of ConocoPhillips by 75.5% in the 2nd quarter. Clear Perspective Advisors LLC now owns 2,790 shares of the energy producer’s stock worth $123,000 after buying an additional 1,200 shares during the last quarter. Finally, Lloyds Banking Group plc bought a new position in shares of ConocoPhillips in the 2nd quarter worth $127,000. 69.63% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have recently commented on COP. Barclays increased their price target on shares of ConocoPhillips from $59.00 to $72.00 and gave the stock an “overweight” rating in a report on Friday. Piper Jaffray Companies reissued a “buy” rating and issued a $63.00 price target on shares of ConocoPhillips in a report on Wednesday, January 24th. Morgan Stanley increased their price target on shares of ConocoPhillips from $48.00 to $65.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 24th. Cowen set a $70.00 price target on shares of ConocoPhillips and gave the stock a “buy” rating in a report on Thursday, January 18th. Finally, Macquarie began coverage on shares of ConocoPhillips in a report on Wednesday, January 17th. They issued an “outperform” rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. ConocoPhillips currently has a consensus rating of “Buy” and a consensus price target of $58.71.
Shares of ConocoPhillips (COP) traded down $1.63 during trading on Friday, hitting $57.72. 8,372,637 shares of the stock were exchanged, compared to its average volume of 5,390,000. ConocoPhillips has a 12 month low of $42.26 and a 12 month high of $61.31. The stock has a market cap of $69,010.00, a PE ratio of -88.80, a price-to-earnings-growth ratio of 2.06 and a beta of 1.32. The company has a quick ratio of 2.23, a current ratio of 2.38 and a debt-to-equity ratio of 0.64.
ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, February 1st. The energy producer reported $0.45 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.45. The company had revenue of $8.74 billion during the quarter, compared to analysts’ expectations of $7.70 billion. ConocoPhillips had a negative net margin of 2.04% and a positive return on equity of 2.78%. During the same quarter in the prior year, the company earned ($0.26) EPS. analysts predict that ConocoPhillips will post 2.54 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Monday, February 12th will be given a dividend of $0.285 per share. The ex-dividend date is Friday, February 9th. This represents a $1.14 annualized dividend and a yield of 1.98%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.27. ConocoPhillips’s dividend payout ratio is presently -163.08%.
ConocoPhillips announced that its Board of Directors has authorized a stock buyback plan on Wednesday, November 8th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the energy producer to buy shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.
In other news, Director Charles E. Bunch purchased 2,000 shares of the company’s stock in a transaction on Monday, December 11th. The stock was acquired at an average price of $52.06 per share, with a total value of $104,120.00. Following the transaction, the director now directly owns 3,429 shares of the company’s stock, valued at approximately $178,513.74. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.82% of the company’s stock.
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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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