Wallington Asset Management LLC lifted its stake in ConocoPhillips (NYSE:COP) by 10.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 93,887 shares of the energy producer’s stock after purchasing an additional 9,145 shares during the quarter. Wallington Asset Management LLC’s holdings in ConocoPhillips were worth $5,153,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently bought and sold shares of the company. Freestone Capital Holdings LLC increased its holdings in ConocoPhillips by 78.7% in the 2nd quarter. Freestone Capital Holdings LLC now owns 8,047 shares of the energy producer’s stock worth $354,000 after buying an additional 3,543 shares in the last quarter. Point View Wealth Management Inc. increased its holdings in ConocoPhillips by 19.8% in the 2nd quarter. Point View Wealth Management Inc. now owns 32,939 shares of the energy producer’s stock worth $1,448,000 after buying an additional 5,452 shares in the last quarter. Toronto Dominion Bank increased its holdings in ConocoPhillips by 16.1% in the 2nd quarter. Toronto Dominion Bank now owns 616,392 shares of the energy producer’s stock worth $27,092,000 after buying an additional 85,538 shares in the last quarter. Korea Investment CORP increased its holdings in ConocoPhillips by 32.8% in the 3rd quarter. Korea Investment CORP now owns 1,026,000 shares of the energy producer’s stock worth $51,351,000 after buying an additional 253,600 shares in the last quarter. Finally, MUFG Securities EMEA plc bought a new stake in ConocoPhillips in the 2nd quarter worth about $26,376,000. 70.49% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Charles E. Bunch purchased 2,000 shares of the firm’s stock in a transaction that occurred on Monday, December 11th. The shares were bought at an average price of $52.06 per share, for a total transaction of $104,120.00. Following the acquisition, the director now owns 3,429 shares of the company’s stock, valued at approximately $178,513.74. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.82% of the company’s stock.
Several equities research analysts recently commented on COP shares. Royal Bank of Canada lifted their price objective on ConocoPhillips from $58.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, November 9th. Morgan Stanley lifted their price objective on 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 ConocoPhillips and gave the company a “buy” rating in a research note on Thursday, January 18th. Credit Suisse Group began coverage on ConocoPhillips in a research note on Monday, December 11th. They set a “neutral” rating and a $50.00 price target for the company. Finally, Howard Weil downgraded ConocoPhillips from a “focus list” rating to an “outperform” rating and set a $58.00 price target for the company. in a research note on Friday, December 22nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $58.53.
Shares of ConocoPhillips (NYSE COP) opened at $54.65 on Monday. ConocoPhillips has a twelve month low of $42.26 and a twelve month high of $61.31. The firm has a market capitalization of $64,328.89, a price-to-earnings ratio of 74.86, a P/E/G ratio of 1.74 and a beta of 1.32. The company has a current ratio of 2.38, a quick ratio of 2.23 and a debt-to-equity ratio of 0.64.
ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, February 1st. The energy producer reported $0.45 earnings per share 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 company had revenue of $8.74 billion for the quarter, compared to analyst estimates of $7.70 billion. During the same quarter in the prior year, the firm posted ($0.26) EPS. equities analysts forecast that ConocoPhillips will post 2.85 earnings per share for the current fiscal year.
ConocoPhillips announced that its board has authorized a stock buyback plan on Wednesday, November 8th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the energy producer to reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Monday, February 12th will be issued a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 2.09%. The ex-dividend date is Friday, February 9th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.27. ConocoPhillips’s dividend payout ratio is presently -228.00%.
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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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