Meyer Handelman Co. grew its stake in ConocoPhillips (NYSE:COP) by 14.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 135,107 shares of the energy producer’s stock after acquiring an additional 16,600 shares during the quarter. Meyer Handelman Co.’s holdings in ConocoPhillips were worth $6,762,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in the business. Freestone Capital Holdings LLC lifted its holdings in shares of ConocoPhillips by 78.7% during the second quarter. Freestone Capital Holdings LLC now owns 8,047 shares of the energy producer’s stock valued at $354,000 after purchasing an additional 3,543 shares in the last quarter. Point View Wealth Management Inc. lifted its holdings in shares of ConocoPhillips by 19.8% during the second quarter. Point View Wealth Management Inc. now owns 32,939 shares of the energy producer’s stock valued at $1,448,000 after purchasing an additional 5,452 shares in the last quarter. Shell Asset Management Co. lifted its holdings in shares of ConocoPhillips by 2.4% during the second quarter. Shell Asset Management Co. now owns 202,066 shares of the energy producer’s stock valued at $8,883,000 after purchasing an additional 4,647 shares in the last quarter. FMR LLC lifted its holdings in shares of ConocoPhillips by 6.9% during the first quarter. FMR LLC now owns 61,497,903 shares of the energy producer’s stock valued at $3,066,900,000 after purchasing an additional 3,982,002 shares in the last quarter. Finally, Citizens Financial Group Inc. RI lifted its holdings in shares of ConocoPhillips by 12.5% during the first quarter. Citizens Financial Group Inc. RI now owns 210,916 shares of the energy producer’s stock valued at $10,518,000 after purchasing an additional 23,434 shares in the last quarter. 69.87% of the stock is currently owned by institutional investors and hedge funds.
ConocoPhillips (NYSE:COP) opened at $51.68 on Thursday. ConocoPhillips has a 1-year low of $42.26 and a 1-year high of $54.22. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.38 and a quick ratio of 2.23. The firm has a market capitalization of $62,119.01, a PE ratio of 2,598.00, a price-to-earnings-growth ratio of 12.53 and a beta of 1.26.
ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, October 26th. The energy producer reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.08. ConocoPhillips had a positive return on equity of 0.12% and a negative net margin of 7.32%. The company had revenue of $7.20 billion for the quarter, compared to the consensus estimate of $6.55 billion. During the same quarter in the prior year, the company earned ($0.66) earnings per share. equities research analysts forecast that ConocoPhillips will post 0.55 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Monday, October 16th were issued a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date was Friday, October 13th. ConocoPhillips’s dividend payout ratio is -57.30%.
COP has been the topic of a number of research analyst reports. Scotiabank reaffirmed a “buy” rating and set a $52.00 price target on shares of ConocoPhillips in a report on Friday, September 8th. J P Morgan Chase & Co reaffirmed an “overweight” rating on shares of ConocoPhillips in a report on Saturday, September 16th. Royal Bank of Canada upped their price target on ConocoPhillips from $58.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday, November 9th. Jefferies Group set a $54.00 price target on ConocoPhillips and gave the company a “buy” rating in a report on Tuesday, August 29th. Finally, Barclays upped their price target on ConocoPhillips from $55.00 to $59.00 and gave the company an “overweight” rating in a report on Friday, October 27th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $55.47.
In other news, Director Charles E. Bunch bought 2,000 shares of the stock in a transaction on Monday, December 11th. The shares were bought at an average price of $52.06 per share, with a total value of $104,120.00. Following the completion of the acquisition, the director now owns 3,429 shares in the company, valued at $178,513.74. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.82% of the stock is currently owned by corporate insiders.
ConocoPhillips is an independent exploration and production company. The Company explores for, produces, transports and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG) and natural gas liquids. The Company operates through five segments: Alaska, Lower 48, Canada, Europe and North Africa, Asia Pacific and Middle East, and Other International.
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