Cape Cod Five Cents Savings Bank lowered its holdings in ConocoPhillips (NYSE:COP) by 13.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 23,154 shares of the energy producer’s stock after selling 3,503 shares during the quarter. Cape Cod Five Cents Savings Bank’s holdings in ConocoPhillips were worth $1,271,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in COP. Harel Insurance Investments & Financial Services Ltd. grew its holdings in shares of ConocoPhillips by 468.8% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,820 shares of the energy producer’s stock worth $100,000 after purchasing an additional 1,500 shares in the last quarter. Krilogy Financial LLC grew its holdings in shares of ConocoPhillips by 48.6% during the 2nd quarter. Krilogy Financial LLC now owns 2,392 shares of the energy producer’s stock worth $105,000 after purchasing an additional 782 shares in the last quarter. Rocky Mountain Advisers LLC grew its holdings in shares of ConocoPhillips by 140.2% during the 3rd quarter. Rocky Mountain Advisers LLC now owns 2,392 shares of the energy producer’s stock worth $120,000 after purchasing an additional 1,396 shares in the last quarter. Clear Perspective Advisors LLC grew its holdings in shares of ConocoPhillips by 75.5% during the 2nd quarter. Clear Perspective Advisors LLC now owns 2,790 shares of the energy producer’s stock worth $123,000 after purchasing an additional 1,200 shares in the last quarter. Finally, TLP Group LLC acquired a new stake in shares of ConocoPhillips during the 2nd quarter worth approximately $142,000. 70.49% of the stock is currently owned by hedge funds and other institutional investors.
ConocoPhillips (NYSE:COP) opened at $54.91 on Friday. 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 has a 52-week low of $42.26 and a 52-week high of $61.31. The stock has a market capitalization of $65,650.00, a price-to-earnings ratio of -40.38, a price-to-earnings-growth ratio of 1.75 and a beta of 1.32.
ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, February 1st. The energy producer reported $0.45 earnings per share (EPS) for the quarter, meeting 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 the consensus estimate of $7.70 billion. During the same quarter in the previous year, the company posted ($0.26) EPS. equities research analysts expect that ConocoPhillips will post 2.85 earnings per share for the current year.
ConocoPhillips declared that its Board of Directors has initiated a stock buyback plan on Wednesday, November 8th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the energy producer to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Monday, February 12th will be given a $0.285 dividend. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.27. The ex-dividend date is Friday, February 9th. This represents a $1.14 annualized dividend and a yield of 2.08%. ConocoPhillips’s payout ratio is presently -83.82%.
In other ConocoPhillips news, Director Charles E. Bunch acquired 2,000 shares of the business’s stock in a transaction on Monday, December 11th. The stock was purchased at an average price of $52.06 per share, for a total transaction of $104,120.00. Following the transaction, the director now owns 3,429 shares in the company, valued at approximately $178,513.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.82% of the company’s stock.
Several brokerages have recently weighed in on COP. Argus decreased their price objective on ConocoPhillips from $65.00 to $54.54 and set a “buy” rating on the stock in a report on Friday, February 16th. Zacks Investment Research raised ConocoPhillips from a “hold” rating to a “strong-buy” rating and set a $61.00 price objective on the stock in a report on Wednesday, February 14th. Citigroup lifted their price objective on ConocoPhillips from $57.00 to $63.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Barclays boosted their price target on ConocoPhillips from $59.00 to $72.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and issued a $63.00 price target on shares of ConocoPhillips in a research note on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. ConocoPhillips has an average rating of “Buy” and an average target price of $58.53.
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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