Whittier Trust Co. reduced its stake in shares of ConocoPhillips (NYSE:COP) by 16.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,189 shares of the energy producer’s stock after selling 1,757 shares during the quarter. Whittier Trust Co.’s holdings in ConocoPhillips were worth $560,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Farmers & Merchants Investments Inc. increased its holdings in shares of ConocoPhillips by 0.5% in the first quarter. Farmers & Merchants Investments Inc. now owns 34,226 shares of the energy producer’s stock valued at $2,284,000 after purchasing an additional 160 shares during the period. Kanawha Capital Management LLC grew its holdings in ConocoPhillips by 0.9% during the first quarter. Kanawha Capital Management LLC now owns 18,026 shares of the energy producer’s stock worth $1,203,000 after acquiring an additional 165 shares during the period. CNB Bank grew its holdings in ConocoPhillips by 4.6% during the first quarter. CNB Bank now owns 3,980 shares of the energy producer’s stock worth $266,000 after acquiring an additional 175 shares during the period. Full Sail Capital LLC grew its holdings in ConocoPhillips by 4.6% during the first quarter. Full Sail Capital LLC now owns 4,031 shares of the energy producer’s stock worth $269,000 after acquiring an additional 179 shares during the period. Finally, Sandy Spring Bank grew its holdings in ConocoPhillips by 0.3% during the first quarter. Sandy Spring Bank now owns 54,051 shares of the energy producer’s stock worth $3,608,000 after acquiring an additional 181 shares during the period. Hedge funds and other institutional investors own 72.18% of the company’s stock.
COP traded down $1.19 during trading on Monday, hitting $55.28. The company’s stock had a trading volume of 127,184 shares, compared to its average volume of 5,718,416. The company has a quick ratio of 1.72, a current ratio of 1.76 and a debt-to-equity ratio of 0.45. ConocoPhillips has a twelve month low of $56.32 and a twelve month high of $80.24. The business’s fifty day moving average price is $60.13. The company has a market cap of $62.33 billion, a price-to-earnings ratio of 12.19, a price-to-earnings-growth ratio of 1.47 and a beta of 0.99.
ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Tuesday, July 30th. The energy producer reported $1.01 EPS for the quarter, missing the consensus estimate of $1.03 by ($0.02). ConocoPhillips had a net margin of 18.33% and a return on equity of 15.96%. The business had revenue of $8.38 billion during the quarter, compared to analyst estimates of $9.42 billion. During the same period in the previous year, the business posted $1.09 earnings per share. The firm’s revenue for the quarter was down 9.3% on a year-over-year basis. Equities research analysts forecast that ConocoPhillips will post 4.04 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Monday, July 22nd will be issued a $0.305 dividend. This represents a $1.22 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend is Friday, July 19th. ConocoPhillips’s payout ratio is currently 26.93%.
Several research firms recently commented on COP. Zacks Investment Research raised ConocoPhillips from a “strong sell” rating to a “hold” rating and set a $52.00 target price on the stock in a report on Thursday, July 11th. Mizuho raised ConocoPhillips from a “neutral” rating to a “buy” rating and raised their target price for the stock from $74.00 to $80.00 in a report on Wednesday, June 26th. Morgan Stanley dropped their target price on ConocoPhillips from $84.00 to $81.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Credit Suisse Group lowered ConocoPhillips from an “outperform” rating to a “neutral” rating and set a $64.00 target price on the stock. in a report on Wednesday, May 1st. Finally, Bank of America raised ConocoPhillips from a “neutral” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Wednesday, July 17th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $77.07.
ConocoPhillips Company Profile
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the tight oil reservoirs, LNG, oil sands, and other production operations. Its portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.
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