Steward Partners Investment Advisory LLC bought a new stake in ConocoPhillips (NYSE:COP) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 30,543 shares of the energy producer’s stock, valued at approximately $1,528,000.
A number of other large investors have also recently modified their holdings of COP. BlackRock Inc. raised its holdings in ConocoPhillips by 7.8% in the second quarter. BlackRock Inc. now owns 85,821,694 shares of the energy producer’s stock valued at $3,772,723,000 after acquiring an additional 6,197,896 shares in the last quarter. AJO LP raised its holdings in ConocoPhillips by 3,000.7% in the second quarter. AJO LP now owns 2,988,018 shares of the energy producer’s stock valued at $131,353,000 after acquiring an additional 2,891,652 shares in the last quarter. Franklin Resources Inc. raised its holdings in ConocoPhillips by 21.6% in the second quarter. Franklin Resources Inc. now owns 12,025,415 shares of the energy producer’s stock valued at $528,635,000 after acquiring an additional 2,134,292 shares in the last quarter. Brandywine Global Investment Management LLC raised its holdings in ConocoPhillips by 183.5% in the second quarter. Brandywine Global Investment Management LLC now owns 3,138,796 shares of the energy producer’s stock valued at $137,982,000 after acquiring an additional 2,031,830 shares in the last quarter. Finally, Eaton Vance Management raised its holdings in ConocoPhillips by 49.2% in the second quarter. Eaton Vance Management now owns 5,395,400 shares of the energy producer’s stock valued at $237,182,000 after acquiring an additional 1,780,223 shares in the last quarter. 70.93% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Charles E. Bunch acquired 2,000 shares of the stock in a transaction that occurred on Monday, December 11th. The shares were purchased at an average cost of $52.06 per share, for a total transaction of $104,120.00. Following the transaction, the director now directly owns 3,429 shares in the company, valued at approximately $178,513.74. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.82% of the company’s stock.
Shares of ConocoPhillips (NYSE COP) traded up $1.39 during trading on Monday, hitting $53.41. 7,026,674 shares of the stock were exchanged, compared to its average volume of 6,080,000. ConocoPhillips has a fifty-two week low of $42.26 and a fifty-two week high of $61.31. 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 cap of $63,850.00, a PE ratio of -82.17, a price-to-earnings-growth ratio of 1.70 and a beta of 1.32.
ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, February 1st. The energy producer reported $0.45 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.45. ConocoPhillips had a negative net margin of 2.04% and a positive return on equity of 2.78%. The firm had revenue of $8.74 billion for the quarter, compared to analyst estimates of $7.70 billion. During the same period last year, the firm posted ($0.26) EPS. equities analysts expect that ConocoPhillips will post 2.79 EPS for the current year.
ConocoPhillips declared that its board has authorized a share repurchase plan on Wednesday, November 8th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the energy producer to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Monday, February 12th will be given a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 2.13%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Friday, February 9th. ConocoPhillips’s dividend payout ratio (DPR) is -163.08%.
A number of research firms have weighed in on COP. Citigroup raised their price objective on shares of ConocoPhillips from $57.00 to $63.00 and gave the stock a “buy” rating in a report on Friday. Barclays raised their price objective on shares of ConocoPhillips from $59.00 to $72.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. Piper Jaffray Companies reissued a “buy” rating and set a $63.00 price objective on shares of ConocoPhillips in a report on Wednesday, January 24th. Morgan Stanley raised their price objective 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. Finally, Cowen set a $70.00 price objective on shares of ConocoPhillips and gave the stock a “buy” rating in a report on Thursday, January 18th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $59.06.
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ConocoPhillips Company Profile
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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