Stack Financial Management Inc decreased its holdings in ConocoPhillips (NYSE:COP) by 2.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 209,835 shares of the energy producer’s stock after selling 5,044 shares during the quarter. Stack Financial Management Inc’s holdings in ConocoPhillips were worth $11,518,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in COP. Krilogy Financial LLC boosted its stake in ConocoPhillips by 48.6% during the second quarter. Krilogy Financial LLC now owns 2,392 shares of the energy producer’s stock valued at $105,000 after buying an additional 782 shares in the last quarter. Rocky Mountain Advisers LLC lifted its holdings in shares of ConocoPhillips by 140.2% during the third quarter. Rocky Mountain Advisers LLC now owns 2,392 shares of the energy producer’s stock valued at $120,000 after purchasing an additional 1,396 shares during the last quarter. Clear Perspective Advisors LLC lifted its holdings in shares of ConocoPhillips by 75.5% during the second quarter. Clear Perspective Advisors LLC now owns 2,790 shares of the energy producer’s stock valued at $123,000 after purchasing an additional 1,200 shares during the last quarter. Lloyds Banking Group plc purchased a new stake in shares of ConocoPhillips during the second quarter valued at $127,000. Finally, TLP Group LLC purchased a new stake in shares of ConocoPhillips during the second quarter valued at $142,000. 70.93% of the stock is owned by institutional investors.
Several brokerages have recently commented on COP. Credit Suisse Group began coverage on ConocoPhillips in a report on Monday, December 11th. They set a “neutral” rating and a $50.00 target price for the company. Zacks Investment Research raised ConocoPhillips from a “hold” rating to a “strong-buy” rating and set a $66.00 target price for the company in a report on Wednesday, January 10th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $63.00 target price on shares of ConocoPhillips in a report on Wednesday, January 24th. Macquarie initiated coverage on ConocoPhillips in a research note on Wednesday, January 17th. They issued an “outperform” rating for the company. Finally, Wells Fargo & Co increased their price objective on ConocoPhillips from $57.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. ConocoPhillips presently has an average rating of “Buy” and a consensus target price of $59.06.
In other news, Director Charles E. Bunch bought 2,000 shares of the stock in a transaction dated Monday, December 11th. The stock was bought at an average cost of $52.06 per share, with a total value of $104,120.00. Following the purchase, the director now 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 link. 0.82% of the stock is currently owned by company insiders.
ConocoPhillips (NYSE:COP) opened at $53.41 on Tuesday. 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 has a 52-week low of $42.26 and a 52-week high of $61.31. The stock has a market capitalization of $63,850.00, a price-to-earnings ratio of -82.17, a price-to-earnings-growth ratio of 1.70 and a beta of 1.32.
ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, February 1st. The energy producer reported $0.45 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.45. ConocoPhillips had a positive return on equity of 2.78% and a negative net margin of 2.04%. The firm had revenue of $8.74 billion during the quarter, compared to the consensus estimate of $7.70 billion. During the same quarter in the previous year, the company posted ($0.26) EPS. equities research analysts expect that ConocoPhillips will post 2.79 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Monday, February 12th will be paid a $0.285 dividend. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.27. This represents a $1.14 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Friday, February 9th. ConocoPhillips’s dividend payout ratio (DPR) is -175.38%.
ConocoPhillips announced that its board has approved a stock buyback plan on Wednesday, November 8th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the energy producer to purchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.
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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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