Gables Capital Management Inc. acquired a new position in shares of ConocoPhillips (NYSE:COP) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 51,118 shares of the energy producer’s stock, valued at approximately $3,031,000. ConocoPhillips accounts for about 2.7% of Gables Capital Management Inc.’s investment portfolio, making the stock its 5th biggest holding.
Several other large investors also recently bought and sold shares of the company. Royal Bank of Scotland Group PLC bought a new stake in ConocoPhillips in the fourth quarter valued at about $21,216,000. ING Groep NV increased its stake in ConocoPhillips by 58.4% in the fourth quarter. ING Groep NV now owns 136,723 shares of the energy producer’s stock valued at $7,505,000 after acquiring an additional 50,422 shares during the period. Wallington Asset Management LLC increased its stake in ConocoPhillips by 10.8% in the fourth quarter. Wallington Asset Management LLC now owns 93,887 shares of the energy producer’s stock valued at $5,153,000 after acquiring an additional 9,145 shares during the period. AE Wealth Management LLC increased its stake in ConocoPhillips by 19.0% in the fourth quarter. AE Wealth Management LLC now owns 8,253 shares of the energy producer’s stock valued at $453,000 after acquiring an additional 1,316 shares during the period. Finally, Teacher Retirement System of Texas increased its stake in ConocoPhillips by 10.5% in the fourth quarter. Teacher Retirement System of Texas now owns 737,319 shares of the energy producer’s stock valued at $40,471,000 after acquiring an additional 69,953 shares during the period. Institutional investors own 70.80% of the company’s stock.
In other news, Director Jody Freeman sold 3,716 shares of the company’s stock in a transaction that occurred on Monday, April 30th. The shares were sold at an average price of $65.55, for a total transaction of $243,583.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Andrew D. Lundquist sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, March 29th. The stock was sold at an average price of $58.96, for a total transaction of $1,474,000.00. Following the transaction, the senior vice president now owns 27,353 shares in the company, valued at $1,612,732.88. The disclosure for this sale can be found here. Insiders have sold 309,052 shares of company stock worth $20,965,534 over the last quarter. 0.88% of the stock is owned by company insiders.
COP has been the topic of a number of analyst reports. Royal Bank of Canada set a $70.00 target price on shares of ConocoPhillips and gave the company a “buy” rating in a research note on Friday, April 13th. Edward Jones cut shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Wednesday, April 18th. Zacks Investment Research raised shares of ConocoPhillips from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a research note on Wednesday, June 13th. Barclays upped their target price on shares of ConocoPhillips from $71.00 to $78.00 and gave the company an “overweight” rating in a research note on Friday, April 27th. Finally, Sanford C. Bernstein raised shares of ConocoPhillips from a “market perform” rating to an “outperform” rating and set a $82.00 target price on the stock in a research note on Friday, June 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seventeen have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $66.90.
ConocoPhillips opened at $65.36 on Monday, MarketBeat reports. The stock has a market capitalization of $76.48 billion, a price-to-earnings ratio of 108.93, a PEG ratio of 1.82 and a beta of 1.22. ConocoPhillips has a 12 month low of $42.26 and a 12 month high of $71.71. The company has a current ratio of 1.86, a quick ratio of 1.71 and a debt-to-equity ratio of 0.54.
ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, April 26th. The energy producer reported $0.96 EPS for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.22. The firm had revenue of $8.96 billion for the quarter, compared to analyst estimates of $8.68 billion. ConocoPhillips had a negative net margin of 1.64% and a positive return on equity of 6.69%. During the same period in the previous year, the business earned ($0.02) earnings per share. research analysts predict that ConocoPhillips will post 4 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, June 1st. Stockholders of record on Monday, May 14th were given a dividend of $0.285 per share. The ex-dividend date of this dividend was Friday, May 11th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 1.74%. ConocoPhillips’s payout ratio is 190.00%.
ConocoPhillips Company Profile
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. Its portfolio includes North American tight oil and oil sands assets in Canada; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; and an inventory of conventional and unconventional exploration prospects.
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