Penbrook Management LLC purchased a new position in shares of ConocoPhillips (NYSE:COP) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 5,345 shares of the energy producer’s stock, valued at approximately $293,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in shares of ConocoPhillips by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 12,943,419 shares of the energy producer’s stock valued at $709,009,000 after buying an additional 192,419 shares during the last quarter. First Eagle Investment Management LLC boosted its holdings in shares of ConocoPhillips by 3.0% in the 3rd quarter. First Eagle Investment Management LLC now owns 10,608,598 shares of the energy producer’s stock valued at $530,960,000 after buying an additional 309,683 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of ConocoPhillips by 4.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 8,805,037 shares of the energy producer’s stock valued at $440,689,000 after buying an additional 407,471 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of ConocoPhillips by 0.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 8,555,478 shares of the energy producer’s stock valued at $428,199,000 after buying an additional 26,579 shares during the last quarter. Finally, Boston Partners boosted its holdings in shares of ConocoPhillips by 41.6% in the 4th quarter. Boston Partners now owns 8,184,604 shares of the energy producer’s stock valued at $449,252,000 after buying an additional 2,403,806 shares during the last quarter. 71.14% of the stock is owned by institutional investors.
Shares of ConocoPhillips (COP) opened at $56.50 on Friday. ConocoPhillips has a 12 month low of $42.26 and a 12 month high of $61.31. The company has a quick ratio of 1.64, a current ratio of 1.76 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $66,997.93, a price-to-earnings ratio of -113.00, a P/E/G ratio of 1.68 and a beta of 1.33.
ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, February 1st. The energy producer reported $0.45 earnings per share for the quarter, hitting the consensus estimate of $0.45. The firm had revenue of $8.74 billion for the quarter, compared to analysts’ expectations of $7.70 billion. ConocoPhillips had a positive return on equity of 2.81% and a negative net margin of 2.04%. During the same quarter last year, the business earned ($0.26) EPS. equities analysts expect that ConocoPhillips will post 2.91 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 1st. Shareholders of record on Monday, February 12th were given a dividend of $0.285 per share. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.27. The ex-dividend date was Friday, February 9th. This represents a $1.14 annualized dividend and a yield of 2.02%. ConocoPhillips’s dividend payout ratio (DPR) is presently -228.00%.
ConocoPhillips declared that its board has authorized a stock repurchase program on Thursday, February 1st that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the energy producer to reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
Several equities research analysts have recently commented on the company. Zacks Investment Research raised ConocoPhillips from a “hold” rating to a “strong-buy” rating and set a $66.00 price objective for the company in a report on Wednesday, January 10th. UBS assumed coverage on ConocoPhillips in a report on Wednesday, March 7th. They issued a “buy” rating and a $60.00 price objective for the company. Barclays set a $71.00 price objective on ConocoPhillips and gave the company a “buy” rating in a report on Sunday, March 4th. Royal Bank of Canada set a $61.00 price objective on ConocoPhillips and gave the company a “buy” rating in a report on Wednesday, December 20th. Finally, Cowen set a $70.00 price objective on ConocoPhillips and gave the company a “buy” rating in a report on Thursday, January 18th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. ConocoPhillips has an average rating of “Buy” and a consensus target price of $58.75.
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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