Hexavest Inc. raised its stake in shares of ConocoPhillips (NYSE:COP) by 55.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 688,893 shares of the energy producer’s stock after purchasing an additional 246,815 shares during the period. Hexavest Inc.’s holdings in ConocoPhillips were worth $39,253,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Acadian Asset Management LLC purchased a new position in ConocoPhillips in the 1st quarter valued at about $332,000. Evergreen Capital Management LLC lifted its holdings in shares of ConocoPhillips by 14.0% during the 1st quarter. Evergreen Capital Management LLC now owns 10,095 shares of the energy producer’s stock worth $674,000 after acquiring an additional 1,237 shares during the period. Azimuth Capital Management LLC lifted its holdings in shares of ConocoPhillips by 5.9% during the 1st quarter. Azimuth Capital Management LLC now owns 10,078 shares of the energy producer’s stock worth $673,000 after acquiring an additional 560 shares during the period. Princeton Portfolio Strategies Group LLC purchased a new position in shares of ConocoPhillips during the 1st quarter worth about $213,000. Finally, Bollard Group LLC lifted its holdings in shares of ConocoPhillips by 11.2% during the 1st quarter. Bollard Group LLC now owns 115,539 shares of the energy producer’s stock worth $7,711,000 after acquiring an additional 11,613 shares during the period. 71.40% of the stock is currently owned by hedge funds and other institutional investors.
Shares of COP stock traded up $0.64 during mid-day trading on Thursday, reaching $55.58. 1,003,520 shares of the company were exchanged, compared to its average volume of 8,156,134. ConocoPhillips has a fifty-two week low of $50.13 and a fifty-two week high of $79.65. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.64 and a current ratio of 1.76. The company has a market capitalization of $60.99 billion, a P/E ratio of 12.27, a P/E/G ratio of 1.49 and a beta of 1.05. The business’s 50 day simple moving average is $55.24 and its 200 day simple moving average is $59.60.
ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Tuesday, July 30th. The energy producer reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.02). ConocoPhillips had a return on equity of 15.96% and a net margin of 18.33%. The company had revenue of $8.38 billion for the quarter, compared to analyst estimates of $9.42 billion. During the same period in the previous year, the business posted $1.09 EPS. The firm’s quarterly revenue was down 9.3% compared to the same quarter last year. On average, analysts forecast that ConocoPhillips will post 3.83 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Thursday, October 17th will be given a dividend of $0.42 per share. The ex-dividend date is Wednesday, October 16th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.02%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.31. ConocoPhillips’s dividend payout ratio (DPR) is presently 26.93%.
Several research analysts have recently weighed in on COP shares. Morgan Stanley cut their price objective on shares of ConocoPhillips from $84.00 to $81.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. ValuEngine upgraded shares of ConocoPhillips from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Bank of America raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and set a $75.00 target price for the company in a research report on Wednesday, July 17th. JPMorgan Chase & Co. dropped their target price on shares of ConocoPhillips from $83.00 to $80.00 and set an “overweight” rating for the company in a research report on Tuesday, July 9th. Finally, Barclays started coverage on shares of ConocoPhillips in a research report on Monday, August 19th. They set an “overweight” rating and a $79.00 target price for the company. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $74.50.
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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