C M Bidwell & Associates Ltd. acquired a new stake in ConocoPhillips (NYSE:COP) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 3,990 shares of the energy producer’s stock, valued at approximately $219,000.
A number of other hedge funds and other institutional investors have also modified their holdings of COP. BlackRock Inc. raised its holdings in ConocoPhillips by 7.8% in the 2nd quarter. BlackRock Inc. now owns 85,821,694 shares of the energy producer’s stock valued at $3,772,723,000 after buying an additional 6,197,896 shares during the last quarter. AJO LP raised its holdings in ConocoPhillips by 3,000.7% in the 2nd quarter. AJO LP now owns 2,988,018 shares of the energy producer’s stock valued at $131,353,000 after buying an additional 2,891,652 shares during the last quarter. Boston Partners raised its holdings in ConocoPhillips by 41.6% in the 4th quarter. Boston Partners now owns 8,184,604 shares of the energy producer’s stock valued at $449,252,000 after buying an additional 2,403,806 shares during the last quarter. Franklin Resources Inc. raised its holdings in ConocoPhillips by 21.6% in the 2nd quarter. Franklin Resources Inc. now owns 12,025,415 shares of the energy producer’s stock valued at $528,635,000 after buying an additional 2,134,292 shares during the last quarter. Finally, Brandywine Global Investment Management LLC raised its holdings in ConocoPhillips by 183.5% in the 2nd quarter. Brandywine Global Investment Management LLC now owns 3,138,796 shares of the energy producer’s stock valued at $137,982,000 after buying an additional 2,031,830 shares during the last quarter. Institutional investors and hedge funds own 70.93% of the company’s stock.
In related news, Director Charles E. Bunch acquired 2,000 shares of the stock in a transaction dated Monday, December 11th. The stock was bought at an average price of $52.06 per share, for a total transaction of $104,120.00. Following the purchase, 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 link. Insiders own 0.82% of the company’s stock.
Shares of ConocoPhillips (COP) opened at $53.32 on Wednesday. The firm has a market cap of $63,740.00, a price-to-earnings ratio of -82.03, a PEG ratio of 1.70 and a beta of 1.32. 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 one year low of $42.26 and a one year high of $61.31.
ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, February 1st. The energy producer reported $0.45 earnings per share for the quarter, meeting the consensus estimate of $0.45. The company had revenue of $8.74 billion during the quarter, compared to analyst estimates 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 previous year, the business posted ($0.26) EPS. analysts expect that ConocoPhillips will post 2.79 earnings per share for the current fiscal year.
ConocoPhillips announced that its board has initiated a stock repurchase plan on Wednesday, November 8th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the energy producer to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.
The business also recently disclosed 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. The ex-dividend date is Friday, February 9th. This represents a $1.14 annualized dividend and a dividend yield of 2.14%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.27. ConocoPhillips’s payout ratio is currently -175.38%.
A number of research analysts recently issued reports on COP shares. Royal Bank of Canada raised their price objective on shares of ConocoPhillips from $58.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday, November 9th. Morgan Stanley raised 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. Credit Suisse Group began coverage on shares of ConocoPhillips in a report on Monday, December 11th. They set a “neutral” rating and a $50.00 price target for the company. Finally, Howard Weil lowered shares of ConocoPhillips from a “focus list” rating to an “outperform” rating and set a $58.00 price target for the company. in a report on Friday, December 22nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $59.06.
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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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