Keybank National Association OH reduced its holdings in shares of ConocoPhillips (NYSE:COP) by 1.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 585,666 shares of the energy producer’s stock after selling 8,236 shares during the period. Keybank National Association OH’s holdings in ConocoPhillips were worth $33,371,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently made changes to their positions in the company. Rothschild & Co Wealth Management UK Ltd acquired a new position in shares of ConocoPhillips in the second quarter valued at about $27,000. Valley National Advisers Inc. grew its holdings in ConocoPhillips by 64.9% during the second quarter. Valley National Advisers Inc. now owns 503 shares of the energy producer’s stock worth $31,000 after acquiring an additional 198 shares during the period. Manchester Financial Inc. acquired a new stake in ConocoPhillips during the second quarter worth about $34,000. AllSquare Wealth Management LLC grew its holdings in ConocoPhillips by 1,018.0% during the second quarter. AllSquare Wealth Management LLC now owns 559 shares of the energy producer’s stock worth $34,000 after acquiring an additional 509 shares during the period. Finally, Prestige Wealth Management Group LLC acquired a new stake in ConocoPhillips during the second quarter worth about $38,000. 71.45% of the stock is currently owned by institutional investors and hedge funds.
Several analysts recently commented on COP shares. Deutsche Bank reaffirmed a “buy” rating and set a $68.00 target price on shares of ConocoPhillips in a report on Tuesday. 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. Barclays started coverage on ConocoPhillips in a report on Monday, August 19th. They set an “overweight” rating and a $79.00 target price on the stock. 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. Finally, Wells Fargo & Co reaffirmed a “buy” rating on shares of ConocoPhillips in a report on Tuesday, October 15th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. ConocoPhillips presently has an average rating of “Buy” and an average target price of $70.40.
NYSE COP traded down $0.27 during trading hours on Friday, hitting $59.27. The company had a trading volume of 3,385,901 shares, compared to its average volume of 5,979,278. ConocoPhillips has a fifty-two week low of $50.13 and a fifty-two week high of $71.01. The company has a market capitalization of $64.20 billion, a price-to-earnings ratio of 13.08, a P/E/G ratio of 1.70 and a beta of 1.05. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.56 and a quick ratio of 2.40. The firm’s 50 day moving average is $56.54 and its 200 day moving average is $58.11.
ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Tuesday, October 29th. The energy producer reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.04. ConocoPhillips had a return on equity of 13.54% and a net margin of 21.44%. The firm had revenue of $10.09 billion during the quarter, compared to the consensus estimate of $7.06 billion. During the same period in the prior year, the firm earned $1.36 EPS. On average, equities analysts anticipate that ConocoPhillips will post 3.62 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Thursday, October 17th will be issued a $0.42 dividend. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.31. This represents a $1.68 annualized dividend and a yield of 2.83%. The ex-dividend date of this dividend is Wednesday, October 16th. ConocoPhillips’s dividend payout ratio is currently 37.09%.
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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