Wedge Capital Management L L P NC lessened its holdings in shares of ConocoPhillips (NYSE:COP) by 4.6% during the 1st quarter, HoldingsChannel reports. The fund owned 256,151 shares of the energy producer’s stock after selling 12,293 shares during the period. Wedge Capital Management L L P NC’s holdings in ConocoPhillips were worth $17,096,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of COP. Lenox Wealth Advisors LLC acquired a new position in ConocoPhillips during the first quarter worth approximately $27,000. Smart Portfolios LLC increased its position in ConocoPhillips by 69.5% during the fourth quarter. Smart Portfolios LLC now owns 478 shares of the energy producer’s stock worth $30,000 after buying an additional 196 shares during the period. Athena Capital Advisors LLC acquired a new position in ConocoPhillips during the fourth quarter worth approximately $32,000. Clarfeld Financial Advisors LLC acquired a new position in ConocoPhillips during the fourth quarter worth approximately $32,000. Finally, Ironwood Financial llc increased its position in ConocoPhillips by 294.1% during the fourth quarter. Ironwood Financial llc now owns 536 shares of the energy producer’s stock worth $33,000 after buying an additional 400 shares during the period. 74.69% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:COP traded up $0.66 during trading on Thursday, reaching $62.98. The company had a trading volume of 1,935,343 shares, compared to its average volume of 6,839,747. The company has a current ratio of 1.86, a quick ratio of 1.72 and a debt-to-equity ratio of 0.45. ConocoPhillips has a fifty-two week low of $56.75 and a fifty-two week high of $80.24. The firm has a market cap of $69.16 billion, a P/E ratio of 13.90, a PEG ratio of 1.47 and a beta of 1.06.
ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Tuesday, April 30th. The energy producer reported $1.00 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.08. ConocoPhillips had a return on equity of 16.65% and a net margin of 18.08%. The firm had revenue of $10.06 billion for the quarter, compared to the consensus estimate of $9.16 billion. During the same period in the previous year, the business earned $0.96 earnings per share. Research analysts forecast that ConocoPhillips will post 4.37 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 13th will be paid a $0.305 dividend. The ex-dividend date of this dividend is Friday, May 10th. This represents a $1.22 dividend on an annualized basis and a dividend yield of 1.94%. ConocoPhillips’s dividend payout ratio (DPR) is presently 26.93%.
Several research firms have commented on COP. Morgan Stanley lifted their price target on ConocoPhillips from $83.00 to $84.00 and gave the stock an “overweight” rating in a research report on Thursday. Zacks Investment Research raised ConocoPhillips from a “hold” rating to a “buy” rating and set a $74.00 price target on the stock in a research report on Wednesday, March 13th. Credit Suisse Group lowered ConocoPhillips from an “outperform” rating to a “neutral” rating and set a $64.00 target price on the stock. in a report on Wednesday, May 1st. Piper Jaffray Companies reissued a “hold” rating on shares of ConocoPhillips in a report on Tuesday, February 12th. Finally, ValuEngine lowered ConocoPhillips from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $78.60.
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ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the tight oil reservoirs, LNG, oil sands, and other production operations. Its portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.
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