Schafer Cullen Capital Management Inc. cut its stake in shares of ConocoPhillips (NYSE:COP) by 2.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,282,398 shares of the energy producer’s stock after selling 61,115 shares during the quarter. ConocoPhillips accounts for about 1.5% of Schafer Cullen Capital Management Inc.’s holdings, making the stock its 25th biggest holding. Schafer Cullen Capital Management Inc.’s holdings in ConocoPhillips were worth $125,281,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. lifted its position in ConocoPhillips by 468.8% during the fourth 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 lifted its position 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 purchasing an additional 782 shares during the last quarter. Rocky Mountain Advisers LLC lifted its position in 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. Truewealth LLC bought a new stake in ConocoPhillips during the fourth quarter valued at approximately $138,000. Finally, First Personal Financial Services lifted its holdings in shares of ConocoPhillips by 111.9% in the 4th quarter. First Personal Financial Services now owns 2,649 shares of the energy producer’s stock worth $145,000 after acquiring an additional 1,399 shares during the last quarter. Institutional investors and hedge funds own 71.14% of the company’s stock.
Shares of ConocoPhillips (COP) traded up $0.67 during midday trading on Tuesday, hitting $54.24. 417,393 shares of the company traded hands, compared to its average volume of 5,898,118. The company has a current ratio of 1.76, a quick ratio of 1.64 and a debt-to-equity ratio of 0.56. ConocoPhillips has a 12 month low of $42.26 and a 12 month high of $61.31. The stock has a market capitalization of $64,519.57, a P/E ratio of -107.14, a price-to-earnings-growth ratio of 1.64 and a beta of 1.33.
ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, February 1st. The energy producer reported $0.45 EPS for the quarter, hitting the consensus estimate of $0.45. ConocoPhillips had a negative net margin of 2.04% and a positive return on equity of 2.81%. The company had revenue of $8.74 billion for the quarter, compared to the consensus estimate of $7.70 billion. During the same period in the previous year, the firm earned ($0.26) earnings per share. equities analysts predict that ConocoPhillips will post 2.87 EPS for the current year.
ConocoPhillips declared that its Board of Directors has approved a stock repurchase program on Thursday, February 1st that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the energy producer to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which was paid on Thursday, March 1st. Investors of record on Monday, February 12th were paid a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 2.10%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Friday, February 9th. ConocoPhillips’s payout ratio is presently -228.00%.
A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of ConocoPhillips from a “hold” rating to a “strong-buy” rating and set a $66.00 price objective for the company in a report on Wednesday, January 10th. UBS assumed coverage on shares of ConocoPhillips in a report on Wednesday, March 7th. They issued a “buy” rating and a $60.00 price objective for the company. Barclays set a $71.00 price objective on shares of ConocoPhillips and gave the stock a “buy” rating in a report on Sunday, March 4th. Royal Bank of Canada set a $61.00 price objective on shares of ConocoPhillips and gave the stock a “buy” rating in a report on Wednesday, December 20th. Finally, Cowen set a $70.00 price objective on shares of ConocoPhillips and gave the stock a “buy” rating in a report on Thursday, January 18th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target 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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