Greenwood Capital Associates LLC trimmed its stake in ConocoPhillips (NYSE:COP) by 20.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 53,148 shares of the energy producer’s stock after selling 13,291 shares during the period. Greenwood Capital Associates LLC’s holdings in ConocoPhillips were worth $3,242,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the stock. Valley National Advisers Inc. increased its position in shares of ConocoPhillips by 64.9% during the 2nd quarter. Valley National Advisers Inc. now owns 503 shares of the energy producer’s stock valued at $31,000 after purchasing an additional 198 shares during the last quarter. Towerpoint Wealth LLC bought a new stake in ConocoPhillips in the 2nd quarter worth approximately $32,000. Manchester Financial Inc. purchased a new stake in ConocoPhillips in the second quarter worth approximately $34,000. AllSquare Wealth Management LLC boosted its stake in ConocoPhillips by 1,018.0% in the second quarter. AllSquare Wealth Management LLC now owns 559 shares of the energy producer’s stock worth $34,000 after buying an additional 509 shares in the last quarter. Finally, Glassman Wealth Services grew its position in ConocoPhillips by 779.2% during the first quarter. Glassman Wealth Services now owns 633 shares of the energy producer’s stock valued at $42,000 after acquiring an additional 561 shares during the last quarter. Institutional investors own 71.56% of the company’s stock.
COP has been the topic of several research reports. Barclays initiated coverage on shares of ConocoPhillips in a research note on Monday, August 19th. They set an “overweight” rating and a $79.00 price target on the stock. Mizuho raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and increased their target price for the company from $74.00 to $80.00 in a report on Wednesday, June 26th. ValuEngine upgraded shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research report on Thursday, June 27th. Morgan Stanley lowered their price target on shares of ConocoPhillips from $84.00 to $81.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Finally, Zacks Investment Research upgraded shares of ConocoPhillips from a “strong sell” rating to a “hold” rating and set a $52.00 price target for the company in a research report on Thursday, July 11th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $76.85.
Shares of NYSE COP traded up $0.72 during mid-day trading on Wednesday, hitting $57.04. The stock had a trading volume of 39,443 shares, compared to its average volume of 5,618,515. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.64 and a current ratio of 1.76. ConocoPhillips has a 1 year low of $50.13 and a 1 year high of $80.24. The business has a 50 day moving average price of $54.26 and a two-hundred day moving average price of $61.08. The firm has a market cap of $63.52 billion, a P/E ratio of 12.63, a price-to-earnings-growth ratio of 1.48 and a beta of 1.04.
ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Tuesday, July 30th. The energy producer reported $1.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.03 by ($0.02). The firm had revenue of $8.38 billion for the quarter, compared to analysts’ expectations of $9.42 billion. ConocoPhillips had a net margin of 18.33% and a return on equity of 15.96%. The company’s quarterly revenue was down 9.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.09 EPS. Equities research analysts predict that ConocoPhillips will post 3.91 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, July 22nd were given a $0.305 dividend. This represents a $1.22 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend was Friday, July 19th. ConocoPhillips’s payout ratio is 26.93%.
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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