Fishman Jay A Ltd. MI lowered its position in ConocoPhillips (NYSE:COP) by 14.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 29,017 shares of the energy producer’s stock after selling 5,050 shares during the quarter. Fishman Jay A Ltd. MI’s holdings in ConocoPhillips were worth $1,653,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of COP. Rothschild & Co Wealth Management UK Ltd purchased a new stake in ConocoPhillips in the 2nd quarter worth $27,000. Valley National Advisers Inc. raised 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 buying an additional 198 shares in the last quarter. Manchester Financial Inc. purchased a new stake in shares of ConocoPhillips during the 2nd quarter valued at about $34,000. AllSquare Wealth Management LLC raised its position in shares of ConocoPhillips by 1,018.0% during the 2nd quarter. AllSquare Wealth Management LLC now owns 559 shares of the energy producer’s stock valued at $34,000 after buying an additional 509 shares in the last quarter. Finally, Prestige Wealth Management Group LLC purchased a new stake in shares of ConocoPhillips during the 2nd quarter valued at about $38,000. 71.45% of the stock is owned by institutional investors.
COP stock traded down $0.38 during mid-day trading on Friday, reaching $59.16. The company had a trading volume of 4,699,111 shares, compared to its average volume of 5,979,278. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.56 and a quick ratio of 2.40. The company has a market capitalization of $64.20 billion, a PE ratio of 13.06, a price-to-earnings-growth ratio of 1.70 and a beta of 1.05. The firm has a 50 day moving average of $56.52 and a 200 day moving average of $58.08. ConocoPhillips has a 12 month low of $50.13 and a 12 month high of $71.01.
ConocoPhillips (NYSE:COP) last issued its earnings results on Tuesday, October 29th. The energy producer reported $0.82 EPS for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.04. The business had revenue of $10.09 billion for the quarter, compared to the consensus estimate of $7.06 billion. ConocoPhillips had a net margin of 21.44% and a return on equity of 13.54%. During the same period in the prior year, the firm earned $1.36 EPS. Analysts anticipate that ConocoPhillips will post 3.62 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Thursday, October 17th will be paid a $0.42 dividend. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.31. This represents a $1.68 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date of this dividend is Wednesday, October 16th. ConocoPhillips’s dividend payout ratio is currently 37.09%.
A number of research firms recently weighed in on COP. Baader Bank reissued a “neutral” rating and issued a $52.00 price objective on shares of ConocoPhillips in a research report on Tuesday, October 29th. ValuEngine raised shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research 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 price objective on the stock in a research report on Wednesday, July 17th. UBS Group raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $70.00 to $75.00 in a research report on Monday, September 16th. Finally, Barclays began coverage on shares of ConocoPhillips in a research report on Monday, August 19th. They issued an “overweight” rating and a $79.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $69.81.
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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