Haverford Trust Co. lessened its holdings in shares of ConocoPhillips (NYSE:COP) by 4.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 44,147 shares of the energy producer’s stock after selling 1,959 shares during the period. Haverford Trust Co.’s holdings in ConocoPhillips were worth $2,617,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Usca Ria LLC raised its holdings in ConocoPhillips by 6.9% in the 1st quarter. Usca Ria LLC now owns 16,414 shares of the energy producer’s stock valued at $973,000 after acquiring an additional 1,063 shares in the last quarter. King Luther Capital Management Corp raised its holdings in ConocoPhillips by 1.2% in the 1st quarter. King Luther Capital Management Corp now owns 1,070,608 shares of the energy producer’s stock valued at $63,476,000 after acquiring an additional 12,180 shares in the last quarter. Flippin Bruce & Porter Inc. raised its holdings in ConocoPhillips by 1.8% in the 1st quarter. Flippin Bruce & Porter Inc. now owns 195,036 shares of the energy producer’s stock valued at $11,564,000 after acquiring an additional 3,481 shares in the last quarter. Wallington Asset Management LLC raised its holdings in ConocoPhillips by 3.1% in the 1st quarter. Wallington Asset Management LLC now owns 96,769 shares of the energy producer’s stock valued at $5,737,000 after acquiring an additional 2,882 shares in the last quarter. Finally, Tyers Asset Management LLC raised its holdings in ConocoPhillips by 247.4% in the 1st quarter. Tyers Asset Management LLC now owns 54,080 shares of the energy producer’s stock valued at $3,206,000 after acquiring an additional 38,512 shares in the last quarter. 71.21% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have recently issued reports on COP. Barclays set a $71.00 target price on ConocoPhillips and gave the stock a “buy” rating in a report on Sunday, March 4th. 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. Zacks Investment Research raised ConocoPhillips from a “hold” rating to a “buy” rating and set a $74.00 target price for the company in a report on Thursday, April 19th. Jefferies Group cut ConocoPhillips from a “buy” rating to a “hold” rating and increased their target price for the stock from $66.42 to $68.00 in a report on Thursday, April 19th. Finally, TheStreet raised ConocoPhillips from a “c+” rating to a “b-” rating in a report on Wednesday, April 25th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have assigned a buy rating to the stock. ConocoPhillips currently has an average rating of “Buy” and a consensus price target of $63.50.
ConocoPhillips opened at $69.55 on Monday, according to Marketbeat Ratings. The company has a market cap of $81.38 billion, a P/E ratio of 40.67, a price-to-earnings-growth ratio of 2.14 and a beta of 1.22. ConocoPhillips has a one year low of $42.26 and a one year high of $71.00. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.71 and a current ratio of 1.86.
ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, April 26th. The energy producer reported $0.96 EPS for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.22. The business had revenue of $8.96 billion for the quarter, compared to analyst estimates of $8.68 billion. ConocoPhillips had a positive return on equity of 6.69% and a negative net margin of 1.64%. During the same period in the prior year, the company earned ($0.02) EPS. analysts forecast that ConocoPhillips will post 3.6 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 1st. Investors of record on Monday, May 14th will be given a dividend of $0.285 per share. The ex-dividend date of this dividend is Friday, May 11th. This represents a $1.14 dividend on an annualized basis and a yield of 1.64%. ConocoPhillips’s dividend payout ratio (DPR) is presently 190.00%.
ConocoPhillips declared that its Board of Directors has approved a share buyback plan on Thursday, February 1st that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the energy producer to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
In other ConocoPhillips news, SVP Janet Langford Kelly sold 64,184 shares of the stock in a transaction on Monday, May 14th. The stock was sold at an average price of $70.00, for a total value of $4,492,880.00. Following the transaction, the senior vice president now directly owns 105,395 shares in the company, valued at approximately $7,377,650. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jody Freeman sold 3,716 shares of the stock in a transaction on Monday, April 30th. The shares were sold at an average price of $65.55, for a total value of $243,583.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 252,289 shares of company stock worth $16,975,668. 0.88% of the stock is owned by corporate insiders.
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. Its portfolio includes North American tight oil and oil sands assets in Canada; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; and an inventory of conventional and unconventional exploration prospects.
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