Keybank National Association OH reduced its holdings in shares of ConocoPhillips (NYSE:COP) by 14.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 737,725 shares of the energy producer’s stock after selling 120,981 shares during the quarter. Keybank National Association OH’s holdings in ConocoPhillips were worth $40,494,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in the stock. Harel Insurance Investments & Financial Services Ltd. grew its stake in ConocoPhillips by 468.8% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,820 shares of the energy producer’s stock valued at $100,000 after purchasing an additional 1,500 shares during the last quarter. Krilogy Financial LLC grew its stake in ConocoPhillips by 48.6% during the 2nd quarter. Krilogy Financial LLC now owns 2,392 shares of the energy producer’s stock valued at $105,000 after purchasing an additional 782 shares during the last quarter. Rocky Mountain Advisers LLC grew its stake in ConocoPhillips by 140.2% during the 3rd 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. First Personal Financial Services grew its stake in ConocoPhillips by 111.9% during the 4th quarter. First Personal Financial Services now owns 2,649 shares of the energy producer’s stock valued at $145,000 after purchasing an additional 1,399 shares during the last quarter. Finally, Clear Perspective Advisors LLC grew its stake in ConocoPhillips by 75.5% during the 2nd 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. 70.49% of the stock is currently owned by institutional investors.
Several research firms have weighed in on COP. Goldman Sachs Group upgraded ConocoPhillips from a “neutral” rating to a “buy” rating and set a $60.00 price target on the stock in a research note on Wednesday, December 13th. Piper Jaffray Companies reiterated a “buy” rating and set a $63.00 price target on shares of ConocoPhillips in a research note on Wednesday, January 24th. Citigroup boosted their price target on ConocoPhillips from $57.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Argus dropped their price target on ConocoPhillips from $65.00 to $54.54 and set a “buy” rating on the stock in a research note on Friday, February 16th. Finally, Scotiabank reiterated a “buy” rating and set a $53.00 price target on shares of ConocoPhillips in a research note on Wednesday, November 1st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. ConocoPhillips has a consensus rating of “Buy” and a consensus target price of $58.53.
Shares of ConocoPhillips (NYSE:COP) opened at $57.05 on Friday. ConocoPhillips has a one year low of $42.26 and a one year high of $61.31. The company has a quick ratio of 2.23, a current ratio of 1.76 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $67,009.67, a PE ratio of 78.15, a PEG ratio of 1.82 and a beta of 1.32.
ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, February 1st. The energy producer reported $0.45 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.45. The company had revenue of $8.74 billion for the quarter, compared to the consensus estimate of $7.70 billion. ConocoPhillips had a positive return on equity of 2.81% and a negative net margin of 2.04%. During the same quarter in the prior year, the business posted ($0.26) earnings per share. research analysts expect that ConocoPhillips will post 2.85 EPS for the current fiscal year.
The firm 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 of this dividend is Friday, February 9th. This represents a $1.14 dividend on an annualized basis and a yield of 2.00%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.27. ConocoPhillips’s dividend payout ratio is currently -228.00%.
ConocoPhillips declared that its Board of Directors has initiated a share repurchase program on Wednesday, November 8th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the energy producer to reacquire shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.
In other ConocoPhillips news, Director Charles E. Bunch purchased 2,000 shares of the stock in a transaction 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 completion of the transaction, the director now owns 3,429 shares of the company’s stock, valued at approximately $178,513.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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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