MainStreet Investment Advisors LLC purchased a new position in ConocoPhillips (NYSE:COP) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 58,395 shares of the energy producer’s stock, valued at approximately $3,205,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in COP. W.G. Shaheen & Associates DBA Whitney & Co grew its holdings in shares of ConocoPhillips by 5.7% during the second quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 33,246 shares of the energy producer’s stock valued at $1,461,000 after buying an additional 1,796 shares during the last quarter. Suntrust Banks Inc. boosted its holdings in ConocoPhillips by 2.3% in the second quarter. Suntrust Banks Inc. now owns 310,856 shares of the energy producer’s stock valued at $13,664,000 after purchasing an additional 6,883 shares during the last quarter. Cibc World Markets Corp boosted its holdings in ConocoPhillips by 35.5% in the second quarter. Cibc World Markets Corp now owns 174,818 shares of the energy producer’s stock valued at $7,685,000 after purchasing an additional 45,760 shares during the last quarter. Glenview Trust Co boosted its holdings in ConocoPhillips by 0.9% in the second quarter. Glenview Trust Co now owns 205,193 shares of the energy producer’s stock valued at $9,020,000 after purchasing an additional 1,858 shares during the last quarter. Finally, Pettyjohn Wood & White Inc. boosted its holdings in ConocoPhillips by 3.8% in the second quarter. Pettyjohn Wood & White Inc. now owns 13,546 shares of the energy producer’s stock valued at $595,000 after purchasing an additional 500 shares during the last quarter. 71.14% of the stock is currently owned by institutional investors and hedge funds.
ConocoPhillips stock opened at $54.93 on Monday. The firm has a market cap of $64,519.57, a PE ratio of -109.86, a price-to-earnings-growth ratio of 1.64 and a beta of 1.33. ConocoPhillips has a 1 year low of $42.26 and a 1 year high of $61.31. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.76 and a quick ratio of 1.64.
ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, February 1st. The energy producer reported $0.45 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.45. The business had revenue of $8.74 billion during the quarter, compared to the consensus estimate of $7.70 billion. ConocoPhillips had a negative net margin of 2.04% and a positive return on equity of 2.81%. During the same quarter in the prior year, the firm posted ($0.26) earnings per share. sell-side analysts expect that ConocoPhillips will post 2.87 EPS for the current year.
ConocoPhillips declared that its board has authorized a stock repurchase program on Thursday, February 1st that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the energy producer to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
The business also recently declared a quarterly dividend, which was paid on Thursday, March 1st. Investors of record on Monday, February 12th were given a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 2.08%. The ex-dividend date was Friday, February 9th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.27. ConocoPhillips’s dividend payout ratio is -228.00%.
Several research firms have commented on COP. Zacks Investment Research raised shares of ConocoPhillips from a “hold” rating to a “strong-buy” rating and set a $66.00 price target on the stock in a report on Wednesday, January 10th. UBS began coverage on shares of ConocoPhillips in a report on Wednesday, March 7th. They issued a “buy” rating and a $60.00 price target on the stock. Barclays set a $71.00 price target on shares of ConocoPhillips and gave the company a “buy” rating in a report on Sunday, March 4th. Royal Bank of Canada set a $61.00 price target on shares of ConocoPhillips and gave the company a “buy” rating in a report on Wednesday, December 20th. Finally, Cowen set a $70.00 price target on shares of ConocoPhillips and gave the company a “buy” rating in a report on Thursday, January 18th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. ConocoPhillips has an average rating of “Buy” and an average target price of $58.75.
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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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