San Francisco Sentry Investment Group CA reduced its stake in shares of ConocoPhillips (NYSE:COP) by 22.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,405 shares of the energy producer’s stock after selling 5,188 shares during the quarter. San Francisco Sentry Investment Group CA’s holdings in ConocoPhillips were worth $1,010,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently made changes to their positions in COP. Beach Investment Management LLC. purchased a new stake in ConocoPhillips during the 2nd quarter valued at approximately $2,035,000. Great Lakes Advisors LLC grew its holdings in shares of ConocoPhillips by 53.2% in the second quarter. Great Lakes Advisors LLC now owns 1,465,912 shares of the energy producer’s stock valued at $64,441,000 after purchasing an additional 509,080 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of ConocoPhillips by 1.0% in the second quarter. Robeco Institutional Asset Management B.V. now owns 125,901 shares of the energy producer’s stock valued at $5,534,000 after purchasing an additional 1,199 shares in the last quarter. Airain ltd grew its holdings in shares of ConocoPhillips by 21.4% in the second quarter. Airain ltd now owns 125,592 shares of the energy producer’s stock valued at $5,521,000 after purchasing an additional 22,112 shares in the last quarter. Finally, BDO Wealth Advisors LLC purchased a new position in shares of ConocoPhillips in the second quarter valued at $625,000. 70.49% of the stock is owned by institutional investors and hedge funds.
In related news, Director Charles E. Bunch purchased 2,000 shares of the stock in a transaction that occurred on Monday, December 11th. The stock was bought at an average cost of $52.06 per share, for a total transaction of $104,120.00. Following the completion of the transaction, the director now directly owns 3,429 shares in the company, valued at $178,513.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.82% of the stock is owned by company insiders.
A number of research firms recently weighed in on COP. Zacks Investment Research raised shares of ConocoPhillips from a “hold” rating to a “strong-buy” rating and set a $66.00 target price for the company in a report on Wednesday, January 10th. Credit Suisse Group began coverage on shares of ConocoPhillips in a report on Monday, December 11th. They issued a “neutral” rating and a $50.00 target price for the company. Piper Jaffray Companies reissued a “buy” rating and issued a $63.00 target price on shares of ConocoPhillips in a report on Wednesday, January 24th. Macquarie began coverage on shares of ConocoPhillips in a report on Wednesday, January 17th. They issued an “outperform” rating for the company. Finally, Argus cut their target price on shares of ConocoPhillips from $65.00 to $54.54 and set a “buy” rating for the company in a report on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. ConocoPhillips currently has a consensus rating of “Buy” and a consensus target price of $58.53.
Shares of ConocoPhillips (NYSE:COP) opened at $54.84 on Wednesday. The stock has a market capitalization of $64,328.89, a price-to-earnings ratio of -109.68, a P/E/G ratio of 1.74 and a beta of 1.32. ConocoPhillips has a 52-week low of $42.26 and a 52-week high of $61.31. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.38 and a quick ratio of 2.23.
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 analysts’ consensus estimates of $0.45. The company had revenue of $8.74 billion during the quarter, compared to the consensus estimate 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 last year, the company earned ($0.26) earnings per share. analysts anticipate that ConocoPhillips will post 2.85 EPS for the current year.
ConocoPhillips announced that its board has authorized a stock repurchase program on Wednesday, November 8th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the energy producer to purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Monday, February 12th will be given a $0.285 dividend. The ex-dividend date is Friday, February 9th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.27. This represents a $1.14 dividend on an annualized basis and a yield of 2.08%. ConocoPhillips’s dividend payout ratio (DPR) is currently -228.00%.
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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