Profund Advisors LLC lifted its holdings in shares of ConocoPhillips (NYSE:COP) by 2.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,939 shares of the energy producer’s stock after buying an additional 932 shares during the period. Profund Advisors LLC’s holdings in ConocoPhillips were worth $2,802,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Geode Capital Management LLC increased its stake in ConocoPhillips by 4.6% in the 4th quarter. Geode Capital Management LLC now owns 15,108,105 shares of the energy producer’s stock valued at $940,354,000 after purchasing an additional 659,942 shares in the last quarter. Boston Partners grew its holdings in ConocoPhillips by 3.5% during the 1st quarter. Boston Partners now owns 6,963,606 shares of the energy producer’s stock valued at $464,751,000 after buying an additional 236,305 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in ConocoPhillips by 3.8% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 6,411,179 shares of the energy producer’s stock valued at $391,082,000 after buying an additional 237,116 shares during the last quarter. Wells Fargo & Company MN grew its holdings in ConocoPhillips by 36.4% during the 2nd quarter. Wells Fargo & Company MN now owns 4,998,770 shares of the energy producer’s stock valued at $304,924,000 after buying an additional 1,335,051 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in ConocoPhillips by 1.6% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,986,640 shares of the energy producer’s stock valued at $332,808,000 after buying an additional 76,923 shares during the last quarter. 71.56% of the stock is owned by institutional investors and hedge funds.
Shares of COP stock traded up $1.18 during mid-day trading on Friday, hitting $57.53. 289,672 shares of the company’s stock were exchanged, compared to its average volume of 5,719,988. ConocoPhillips has a fifty-two week low of $50.13 and a fifty-two week high of $80.24. The stock has a 50-day simple moving average of $54.20 and a two-hundred day simple moving average of $61.02. The company has a quick ratio of 1.64, a current ratio of 1.76 and a debt-to-equity ratio of 0.45. The stock has a market cap of $62.52 billion, a price-to-earnings ratio of 12.70, a PEG ratio of 1.52 and a beta of 1.04.
ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Tuesday, July 30th. The energy producer reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.02). ConocoPhillips had a return on equity of 15.96% and a net margin of 18.33%. The business had revenue of $8.38 billion for the quarter, compared to analyst estimates of $9.42 billion. During the same quarter last year, the business earned $1.09 EPS. ConocoPhillips’s revenue for the quarter was down 9.3% compared to the same quarter last year. As a group, analysts anticipate that ConocoPhillips will post 3.91 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, July 22nd were given a $0.305 dividend. This represents a $1.22 annualized dividend and a dividend yield of 2.12%. The ex-dividend date was Friday, July 19th. ConocoPhillips’s dividend payout ratio (DPR) is currently 26.93%.
COP has been the topic of a number of analyst reports. Morgan Stanley lowered their target price on ConocoPhillips from $84.00 to $81.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. ValuEngine upgraded ConocoPhillips from a “sell” rating to a “hold” rating in a report on Thursday, June 27th. Zacks Investment Research upgraded ConocoPhillips from a “strong sell” rating to a “hold” rating and set a $52.00 target price on the stock in a report on Thursday, July 11th. Mizuho upgraded 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. Finally, Barclays initiated coverage on ConocoPhillips in a report on Monday, August 19th. They set an “overweight” rating and a $79.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $76.85.
ConocoPhillips Company Profile
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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