TCI Wealth Advisors Inc. grew its holdings in shares of ConocoPhillips (NYSE:COP) by 25.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,568 shares of the energy producer’s stock after acquiring an additional 927 shares during the quarter. TCI Wealth Advisors Inc.’s holdings in ConocoPhillips were worth $354,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of COP. Impax Asset Management LLC grew its holdings in shares of ConocoPhillips by 0.5% during the second quarter. Impax Asset Management LLC now owns 241,107 shares of the energy producer’s stock worth $16,786,000 after purchasing an additional 1,108 shares during the last quarter. Signature Financial Management Inc. bought a new stake in shares of ConocoPhillips during the second quarter worth about $303,000. OLD Mutual Customised Solutions Proprietary Ltd. grew its holdings in shares of ConocoPhillips by 2.3% during the second quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 88,826 shares of the energy producer’s stock worth $6,184,000 after purchasing an additional 2,000 shares during the last quarter. Frontier Investment Mgmt Co. grew its holdings in shares of ConocoPhillips by 17.2% during the second quarter. Frontier Investment Mgmt Co. now owns 6,006 shares of the energy producer’s stock worth $418,000 after purchasing an additional 882 shares during the last quarter. Finally, Putnam Investments LLC boosted its holdings in ConocoPhillips by 10.4% in the second quarter. Putnam Investments LLC now owns 5,686,497 shares of the energy producer’s stock valued at $395,894,000 after acquiring an additional 535,141 shares during the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.
In other news, VP Glenda Mae Schwarz sold 18,882 shares of the firm’s stock in a transaction on Monday, September 10th. The stock was sold at an average price of $71.15, for a total transaction of $1,343,454.30. Following the completion of the sale, the vice president now directly owns 29,064 shares of the company’s stock, valued at approximately $2,067,903.60. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Don E. Jr. Wallette sold 59,432 shares of the firm’s stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $71.87, for a total value of $4,271,377.84. Following the sale, the insider now directly owns 83,047 shares of the company’s stock, valued at $5,968,587.89. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 288,378 shares of company stock valued at $20,769,145. Insiders own 0.88% of the company’s stock.
COP has been the topic of several analyst reports. Barclays upped their target price on ConocoPhillips from $78.00 to $84.00 and gave the company an “overweight” rating in a report on Wednesday, July 11th. Morgan Stanley assumed coverage on ConocoPhillips in a report on Thursday, July 12th. They set an “overweight” rating and a $82.00 price target on the stock. Royal Bank of Canada upped their target price on ConocoPhillips from $82.00 to $85.00 and gave the stock an “outperform” rating in a research report on Monday, July 23rd. Mizuho reaffirmed a “hold” rating on shares of ConocoPhillips in a research report on Tuesday, July 24th. Finally, JPMorgan Chase & Co. increased their price target on ConocoPhillips from $82.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, July 27th. Eight equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. ConocoPhillips has a consensus rating of “Buy” and an average target price of $75.53.
NYSE COP opened at $69.03 on Tuesday. The firm has a market capitalization of $78.10 billion, a P/E ratio of 115.05, a P/E/G ratio of 1.58 and a beta of 1.22. ConocoPhillips has a 12 month low of $48.97 and a 12 month high of $80.24. The company has a quick ratio of 1.82, a current ratio of 1.99 and a debt-to-equity ratio of 0.46.
ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, October 25th. The energy producer reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.19. The business had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.48 billion. ConocoPhillips had a return on equity of 14.62% and a net margin of 16.08%. Equities analysts expect that ConocoPhillips will post 4.76 EPS for the current year.
ConocoPhillips announced that its Board of Directors has initiated a stock repurchase plan on Thursday, July 12th that allows the company to buyback $9.00 billion in shares. This buyback authorization allows the energy producer to purchase up to 10.7% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Monday, October 15th will be given a dividend of $0.305 per share. The ex-dividend date of this dividend is Friday, October 12th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.29. This represents a $1.22 annualized dividend and a dividend yield of 1.77%. ConocoPhillips’s dividend payout ratio (DPR) is currently 203.33%.
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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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