Greenwood Gearhart Inc. boosted its stake in ConocoPhillips (NYSE:COP) by 10.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 125,059 shares of the energy producer’s stock after purchasing an additional 12,000 shares during the period. ConocoPhillips comprises about 2.2% of Greenwood Gearhart Inc.’s holdings, making the stock its 21st largest holding. Greenwood Gearhart Inc.’s holdings in ConocoPhillips were worth $6,864,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors also recently modified their holdings of the stock. WFG Advisors LP increased its stake in shares of ConocoPhillips by 0.4% in the second quarter. WFG Advisors LP now owns 9,611 shares of the energy producer’s stock worth $423,000 after purchasing an additional 39 shares in the last quarter. First City Capital Management Inc. grew its stake in ConocoPhillips by 1.4% during the second quarter. First City Capital Management Inc. now owns 5,459 shares of the energy producer’s stock valued at $240,000 after acquiring an additional 75 shares in the last quarter. Waters Parkerson & CO. LLC grew its stake in ConocoPhillips by 1.0% during the second quarter. Waters Parkerson & CO. LLC now owns 12,043 shares of the energy producer’s stock valued at $529,000 after acquiring an additional 125 shares in the last quarter. Laurel Wealth Advisors Inc. grew its stake in ConocoPhillips by 1.5% during the second quarter. Laurel Wealth Advisors Inc. now owns 8,734 shares of the energy producer’s stock valued at $383,000 after acquiring an additional 130 shares in the last quarter. Finally, Courier Capital LLC grew its stake in ConocoPhillips by 2.7% during the second quarter. Courier Capital LLC now owns 8,227 shares of the energy producer’s stock valued at $362,000 after acquiring an additional 220 shares in the last quarter. 71.27% of the stock is owned by institutional investors and hedge funds.
Shares of ConocoPhillips (NYSE:COP) remained flat at $$53.96 during mid-day trading on Wednesday. The stock had a trading volume of 4,055,242 shares, compared to its average volume of 5,911,556. ConocoPhillips has a 1-year low of $42.26 and a 1-year high of $61.31. The firm has a market cap of $63,380.00, a PE ratio of -39.68, a price-to-earnings-growth ratio of 1.64 and a beta of 1.33. The company has a quick ratio of 1.64, a current ratio of 1.76 and a debt-to-equity ratio of 0.56.
ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, February 1st. The energy producer reported $0.45 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.45. ConocoPhillips had a positive return on equity of 2.81% 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) earnings per share. equities analysts anticipate that ConocoPhillips will post 2.87 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, March 1st. Shareholders of record on Monday, February 12th were issued a $0.285 dividend. The ex-dividend date was 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 2.11%. ConocoPhillips’s payout ratio is presently -83.82%.
ConocoPhillips declared that its Board of Directors has authorized a stock buyback program on Thursday, February 1st that allows the company to buyback $500.00 million in shares. This buyback authorization allows the energy producer to repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.
Several equities research analysts have issued reports on the stock. UBS Group assumed coverage on shares of ConocoPhillips in a research report on Wednesday, March 7th. They set a “buy” rating and a $60.00 target price for the company. Barclays set a $71.00 price objective on shares of ConocoPhillips and gave the company a “buy” rating in a research report on Sunday, March 4th. Argus cut their price objective on shares of ConocoPhillips from $65.00 to $54.54 and set a “buy” rating on the stock in a research report on Friday, February 16th. Zacks Investment Research raised shares of ConocoPhillips from a “hold” rating to a “strong-buy” rating and set a $61.00 price objective on the stock in a research report on Wednesday, February 14th. Finally, Citigroup upped their target price on shares of ConocoPhillips from $57.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, February 9th. 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 company. ConocoPhillips has a consensus rating of “Buy” and a consensus price target of $58.75.
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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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