Commonwealth Equity Services LLC decreased its position in ConocoPhillips (NYSE:COP) by 2.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 445,938 shares of the energy producer’s stock after selling 9,092 shares during the period. Commonwealth Equity Services LLC’s holdings in ConocoPhillips were worth $34,515,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. IMA Wealth Inc. purchased a new stake in shares of ConocoPhillips during the second quarter valued at $100,000. Palo Capital Inc. purchased a new stake in shares of ConocoPhillips during the third quarter valued at $131,000. Adviser Investments LLC lifted its holdings in shares of ConocoPhillips by 139.4% during the second quarter. Adviser Investments LLC now owns 1,956 shares of the energy producer’s stock valued at $136,000 after purchasing an additional 1,139 shares during the last quarter. Lucia Wealth Services LLC lifted its holdings in shares of ConocoPhillips by 541.3% during the second quarter. Lucia Wealth Services LLC now owns 2,251 shares of the energy producer’s stock valued at $157,000 after purchasing an additional 1,900 shares during the last quarter. Finally, NuWave Investment Management LLC lifted its holdings in shares of ConocoPhillips by 8,000.0% during the third quarter. NuWave Investment Management LLC now owns 2,025 shares of the energy producer’s stock valued at $157,000 after purchasing an additional 2,000 shares during the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.
Shares of ConocoPhillips stock opened at $66.73 on Friday. The stock has a market capitalization of $77.03 billion, a P/E ratio of 111.22, a price-to-earnings-growth ratio of 1.55 and a beta of 1.22. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.99 and a quick ratio of 1.82. ConocoPhillips has a 1 year low of $48.97 and a 1 year high of $80.24.
ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, October 25th. The energy producer reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.19. The firm had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.48 billion. ConocoPhillips had a return on equity of 14.62% and a net margin of 16.08%. On average, research analysts forecast that ConocoPhillips will post 4.79 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Monday, October 15th will be paid a $0.305 dividend. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.29. This represents a $1.22 annualized dividend and a yield of 1.83%. The ex-dividend date is Friday, October 12th. ConocoPhillips’s dividend payout ratio is currently 203.33%.
In other ConocoPhillips news, VP Glenda Mae Schwarz sold 18,882 shares of the company’s stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $71.15, for a total value of $1,343,454.30. Following the transaction, 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 accessible through the SEC website. Also, Chairman Ryan Michael Lance sold 160,064 shares of the company’s stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $72.07, for a total value of $11,535,812.48. Following the completion of the transaction, the chairman now directly owns 106,312 shares in the company, valued at $7,661,905.84. The disclosure for this sale can be found here. Over the last three months, insiders sold 288,378 shares of company stock valued at $20,769,145. Company insiders own 0.88% of the company’s stock.
Several brokerages have recently commented on COP. Mizuho reaffirmed a “hold” rating and set a $82.00 target price on shares of ConocoPhillips in a report on Monday, October 22nd. Zacks Investment Research raised ConocoPhillips from a “hold” rating to a “buy” rating and set a $88.00 target price for the company in a report on Monday, October 8th. JPMorgan Chase & Co. upped their target price on ConocoPhillips from $82.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, July 27th. Royal Bank of Canada downgraded ConocoPhillips from an “outperform” rating to a “sector perform” rating and set a $90.00 target price for the company. in a report on Thursday, September 20th. They noted that the move was a valuation call. Finally, Morgan Stanley upped their target price on ConocoPhillips from $83.00 to $84.00 and gave the company a “buy” rating in a report on Thursday, August 16th. Eight investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $75.53.
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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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