ConocoPhillips (COP) Shares Sold by Wellington Shields Capital Management LLC

Wellington Shields Capital Management LLC cut its position in ConocoPhillips (NYSE:COP) by 15.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,892 shares of the energy producer’s stock after selling 5,239 shares during the period. Wellington Shields Capital Management LLC’s holdings in ConocoPhillips were worth $1,531,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of COP. Freestone Capital Holdings LLC lifted its position in ConocoPhillips by 78.7% during the second quarter. Freestone Capital Holdings LLC now owns 8,047 shares of the energy producer’s stock worth $354,000 after buying an additional 3,543 shares in the last quarter. Point View Wealth Management Inc. lifted its position in ConocoPhillips by 19.8% during the second quarter. Point View Wealth Management Inc. now owns 32,939 shares of the energy producer’s stock worth $1,448,000 after buying an additional 5,452 shares in the last quarter. Toronto Dominion Bank lifted its position in ConocoPhillips by 16.1% during the second quarter. Toronto Dominion Bank now owns 616,392 shares of the energy producer’s stock worth $27,092,000 after buying an additional 85,538 shares in the last quarter. Korea Investment CORP lifted its position in ConocoPhillips by 32.8% during the third quarter. Korea Investment CORP now owns 1,026,000 shares of the energy producer’s stock worth $51,351,000 after buying an additional 253,600 shares in the last quarter. Finally, MUFG Securities EMEA plc purchased a new position in ConocoPhillips during the second quarter worth approximately $26,376,000. 70.49% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Director Charles E. Bunch bought 2,000 shares of the stock in a transaction that occurred on Monday, December 11th. The stock was purchased at an average cost of $52.06 per share, with a total value of $104,120.00. Following the purchase, the director now directly owns 3,429 shares of the company’s stock, valued at approximately $178,513.74. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.82% of the company’s stock.

A number of research firms have commented on COP. Piper Jaffray Companies restated a “buy” rating and issued a $63.00 target price on shares of ConocoPhillips in a research report on Wednesday, January 24th. Morgan Stanley lifted their target price on ConocoPhillips from $48.00 to $65.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 24th. Macquarie began coverage on ConocoPhillips in a research report on Wednesday, January 17th. They issued an “outperform” rating on the stock. Cowen set a $70.00 target price on ConocoPhillips and gave the company a “buy” rating in a research report on Thursday, January 18th. Finally, Barclays lifted their target price on ConocoPhillips from $59.00 to $72.00 and gave the company an “overweight” rating in a research report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. ConocoPhillips presently has a consensus rating of “Buy” and an average price target of $58.53.

ConocoPhillips (NYSE:COP) opened at $54.65 on Monday. ConocoPhillips has a one year low of $42.26 and a one year high of $61.31. The company has a market capitalization of $64,328.89, a price-to-earnings ratio of 74.86, a P/E/G ratio of 1.74 and a beta of 1.32. The company has a current ratio of 2.38, a quick ratio of 2.23 and a debt-to-equity ratio of 0.64.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, February 1st. The energy producer reported $0.45 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.45. ConocoPhillips had a positive return on equity of 2.78% and a negative net margin of 2.04%. The firm had revenue of $8.74 billion during the quarter, compared to analysts’ expectations of $7.70 billion. During the same period in the previous year, the firm posted ($0.26) EPS. analysts anticipate that ConocoPhillips will post 2.85 earnings per share for the current fiscal year.

ConocoPhillips declared that its board has approved a stock buyback program on Wednesday, November 8th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the energy producer to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Monday, February 12th will be paid a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 2.09%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.27. The ex-dividend date is Friday, February 9th. ConocoPhillips’s payout ratio is presently -228.00%.

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About ConocoPhillips

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.

Want to see what other hedge funds are holding COP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ConocoPhillips (NYSE:COP).

Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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ConocoPhillips (COP) Shares Sold by Wellington Shields Capital Management LLC

Wellington Shields Capital Management LLC cut its holdings in ConocoPhillips (NYSE:COP) by 15.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 27,892 shares of the energy producer’s stock after selling 5,239 shares during the quarter. Wellington Shields Capital Management LLC’s holdings in ConocoPhillips were worth $1,531,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Harel Insurance Investments & Financial Services Ltd. grew its holdings in ConocoPhillips by 468.8% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,820 shares of the energy producer’s stock worth $100,000 after acquiring an additional 1,500 shares during the period. Krilogy Financial LLC grew its holdings in ConocoPhillips by 48.6% during the second quarter. Krilogy Financial LLC now owns 2,392 shares of the energy producer’s stock worth $105,000 after acquiring an additional 782 shares during the period. Rocky Mountain Advisers LLC grew its holdings in ConocoPhillips by 140.2% during the third quarter. Rocky Mountain Advisers LLC now owns 2,392 shares of the energy producer’s stock worth $120,000 after acquiring an additional 1,396 shares during the period. First Personal Financial Services grew its holdings in ConocoPhillips by 111.9% during the fourth quarter. First Personal Financial Services now owns 2,649 shares of the energy producer’s stock worth $145,000 after acquiring an additional 1,399 shares during the period. Finally, Clear Perspective Advisors LLC grew its holdings in ConocoPhillips by 75.5% during the second quarter. Clear Perspective Advisors LLC now owns 2,790 shares of the energy producer’s stock worth $123,000 after acquiring an additional 1,200 shares during the period. Institutional investors own 70.49% of the company’s stock.

Shares of ConocoPhillips (COP) opened at $54.65 on Monday. 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 stock has a market capitalization of $64,328.89, a P/E ratio of 74.86, a PEG ratio of 1.74 and a beta of 1.32. ConocoPhillips has a 12 month low of $42.26 and a 12 month high of $61.31.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, February 1st. The energy producer reported $0.45 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.45. The firm had revenue of $8.74 billion for the quarter, compared to analyst estimates of $7.70 billion. ConocoPhillips had a positive return on equity of 2.78% and a negative net margin of 2.04%. During the same period in the previous year, the company posted ($0.26) earnings per share. research analysts predict that ConocoPhillips will post 2.85 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Monday, February 12th will be paid a $0.285 dividend. The ex-dividend date of this dividend is Friday, February 9th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.27. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.09%. ConocoPhillips’s payout ratio is currently -228.00%.

ConocoPhillips announced that its Board of Directors has initiated a share buyback program on Wednesday, November 8th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the energy producer to purchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Several research firms recently commented on COP. Goldman Sachs Group raised ConocoPhillips from a “neutral” rating to a “buy” rating and set a $60.00 target price on the stock in a report on Wednesday, December 13th. Wells Fargo & Co raised their target price on ConocoPhillips from $57.00 to $60.00 and gave the stock an “outperform” rating in a report on Friday, October 27th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $63.00 target price on shares of ConocoPhillips in a report on Wednesday, January 24th. Citigroup raised their target price on ConocoPhillips from $57.00 to $63.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Finally, Argus dropped their target price on ConocoPhillips from $65.00 to $54.54 and set a “buy” rating on the stock in a report on Friday. One analyst has rated the stock with a sell rating, seven have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. ConocoPhillips currently has an average rating of “Buy” and an average price target of $58.53.

In other news, Director Charles E. Bunch purchased 2,000 shares of the stock in a transaction dated Monday, December 11th. The shares were purchased at an average cost of $52.06 per share, with a total value of $104,120.00. Following the completion of the purchase, the director now directly owns 3,429 shares of the company’s stock, valued at approximately $178,513.74. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.82% of the company’s stock.

COPYRIGHT VIOLATION WARNING: This piece of content was originally posted by The Lincolnian Online and is the property of of The Lincolnian Online. If you are accessing this piece of content on another site, it was illegally stolen and republished in violation of US & international copyright & trademark law. The legal version of this piece of content can be read at https://www.thelincolnianonline.com/2018/02/19/conocophillips-cop-shares-sold-by-wellington-shields-capital-management-llc.html.

ConocoPhillips Profile

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.

Want to see what other hedge funds are holding COP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ConocoPhillips (NYSE:COP).

Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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