S. R. Schill & Associates bought a new stake in ConocoPhillips (NYSE:COP) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 4,508 shares of the energy producer’s stock, valued at approximately $267,000.
Other institutional investors have also recently modified their holdings of the company. Harel Insurance Investments & Financial Services Ltd. increased its position in ConocoPhillips by 468.8% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,820 shares of the energy producer’s stock valued at $100,000 after buying an additional 1,500 shares in the last quarter. Centaurus Financial Inc. bought a new stake in ConocoPhillips in the 1st quarter valued at about $104,000. Truewealth LLC bought a new stake in ConocoPhillips in the 4th quarter valued at about $138,000. First Personal Financial Services increased its position in ConocoPhillips by 111.9% in the 4th quarter. First Personal Financial Services now owns 2,649 shares of the energy producer’s stock valued at $145,000 after buying an additional 1,399 shares in the last quarter. Finally, Delpha Capital Management LLC bought a new stake in ConocoPhillips in the 4th quarter valued at about $149,000. 71.21% of the stock is owned by institutional investors and hedge funds.
ConocoPhillips stock opened at $68.45 on Friday. The firm has a market capitalization of $80.87 billion, a PE ratio of 114.08, a PEG ratio of 2.08 and a beta of 1.22. ConocoPhillips has a fifty-two week low of $42.26 and a fifty-two week high of $71.71. The company has a current ratio of 1.86, a quick ratio of 1.71 and a debt-to-equity ratio of 0.54.
ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, April 26th. The energy producer reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.22. ConocoPhillips had a negative net margin of 1.64% and a positive return on equity of 6.69%. The company had revenue of $8.96 billion during the quarter, compared to analyst estimates of $8.68 billion. During the same period in the previous year, the business earned ($0.02) earnings per share. sell-side analysts anticipate that ConocoPhillips will post 3.69 earnings per share for the current year.
ConocoPhillips announced that its board has initiated a stock repurchase plan 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. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 1st. Investors of record on Monday, May 14th will be given a $0.285 dividend. The ex-dividend date is Friday, May 11th. This represents a $1.14 annualized dividend and a yield of 1.67%. ConocoPhillips’s dividend payout ratio (DPR) is presently 190.00%.
In related news, SVP Andrew D. Lundquist sold 25,000 shares of the company’s stock in a transaction on Thursday, March 29th. The shares were sold at an average price of $58.96, for a total value of $1,474,000.00. Following the completion of the transaction, the senior vice president now directly owns 27,353 shares in the company, valued at $1,612,732.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jody Freeman sold 3,716 shares of the company’s stock in a transaction on Monday, April 30th. The stock was sold at an average price of $65.55, for a total transaction of $243,583.80. The disclosure for this sale can be found here. Insiders sold 302,289 shares of company stock valued at $20,525,668 over the last quarter. 0.88% of the stock is owned by company insiders.
A number of equities analysts have issued reports on COP shares. Royal Bank of Canada set a $70.00 price target on ConocoPhillips and gave the company a “buy” rating in a research note on Friday, April 13th. JPMorgan Chase & Co. lifted their price target on ConocoPhillips from $62.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday, April 9th. Scotiabank reiterated a “buy” rating and set a $64.00 price target on shares of ConocoPhillips in a research note on Monday, April 9th. Zacks Investment Research downgraded ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Friday, April 20th. Finally, UBS started coverage on ConocoPhillips in a research note on Wednesday, March 7th. They set a “buy” rating and a $60.00 price target for the company. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $63.50.
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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