Colonial Trust Advisors raised its stake in shares of ConocoPhillips (NYSE:COP) by 36.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,709 shares of the energy producer’s stock after purchasing an additional 2,305 shares during the period. Colonial Trust Advisors’ holdings in ConocoPhillips were worth $478,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. grew its holdings 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 grew its holdings 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 grew its holdings 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 acquired a new position in ConocoPhillips during the fourth quarter valued at approximately $138,000. Finally, First Personal Financial Services grew its holdings in ConocoPhillips by 111.9% during the fourth 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. Institutional investors own 71.14% of the company’s stock.
Shares of ConocoPhillips (COP) opened at $56.50 on Friday. ConocoPhillips has a 52 week low of $42.26 and a 52 week high of $61.31. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.64 and a current ratio of 1.76. The firm has a market cap of $66,997.93, a price-to-earnings ratio of -113.00, a price-to-earnings-growth ratio of 1.68 and a beta of 1.33.
ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, February 1st. The energy producer reported $0.45 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.45. ConocoPhillips had a negative net margin of 2.04% and a positive return on equity of 2.81%. The firm had revenue of $8.74 billion for the quarter, compared to the consensus estimate of $7.70 billion. During the same quarter in the previous year, the company earned ($0.26) earnings per share. equities analysts forecast that ConocoPhillips will post 2.91 EPS for the current fiscal year.
ConocoPhillips announced that its board has authorized a share buyback program on Thursday, February 1st that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the energy producer to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 1st. Shareholders of record on Monday, February 12th were paid a dividend of $0.285 per share. The ex-dividend date was Friday, February 9th. This represents a $1.14 dividend on an annualized basis and a yield of 2.02%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.27. ConocoPhillips’s payout ratio is currently -228.00%.
Several brokerages have recently issued reports on COP. Zacks Investment Research upgraded shares of ConocoPhillips from a “hold” rating to a “strong-buy” rating and set a $66.00 price objective on the stock in a research note on Wednesday, January 10th. Credit Suisse Group began coverage on shares of ConocoPhillips in a research note on Monday, December 11th. They issued a “neutral” rating and a $50.00 price objective on the stock. Barclays set a $71.00 price objective on shares of ConocoPhillips and gave the stock a “buy” rating in a research note on Sunday, March 4th. Piper Jaffray Companies restated a “buy” rating and issued a $63.00 price objective on shares of ConocoPhillips in a research note on Wednesday, January 24th. Finally, Macquarie began coverage on shares of ConocoPhillips in a research note on Wednesday, January 17th. They issued an “outperform” rating on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. The company currently 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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