FUKOKU MUTUAL LIFE INSURANCE Co decreased its position in ConocoPhillips (NYSE:COP) by 4.5% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 4,200 shares of the energy producer’s stock after selling 200 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in ConocoPhillips were worth $209,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Syntal Capital Partners LLC bought a new stake in ConocoPhillips during the fourth quarter worth $244,000. Elgethun Capital Management bought a new stake in ConocoPhillips during the fourth quarter worth $165,000. Cipher Capital LP bought a new stake in ConocoPhillips during the fourth quarter worth $2,167,000. Armor Investment Advisors LLC bought a new stake in ConocoPhillips during the fourth quarter worth $808,000. Finally, Robertson Stephens Advisors LLC bought a new stake in ConocoPhillips during the fourth quarter worth $3,868,000. Institutional investors own 68.04% of the company’s stock.
ConocoPhillips (COP) opened at 44.95 on Thursday. The stock’s market cap is $55.61 billion. ConocoPhillips has a one year low of $38.80 and a one year high of $53.17. The firm’s 50 day moving average price is $45.94 and its 200 day moving average price is $48.15.
ConocoPhillips (NYSE:COP) last released its earnings results on Tuesday, May 2nd. The energy producer reported ($0.02) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by $0.05. The company had revenue of $7.77 billion during the quarter, compared to the consensus estimate of $7.47 billion. ConocoPhillips had a negative return on equity of 5.92% and a negative net margin of 5.05%. During the same period in the previous year, the firm posted ($0.95) EPS. Equities analysts forecast that ConocoPhillips will post $0.53 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, June 1st. Stockholders of record on Monday, May 15th were given a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 2.36%. The ex-dividend date was Thursday, May 11th. ConocoPhillips’s payout ratio is currently -95.50%.
A number of research firms have recently weighed in on COP. Royal Bank Of Canada reaffirmed a “buy” rating and set a $62.00 price objective on shares of ConocoPhillips in a research report on Thursday, June 15th. BidaskClub raised ConocoPhillips from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. Jefferies Group LLC raised ConocoPhillips from a “hold” rating to a “buy” rating and upped their price objective for the stock from $55.00 to $59.00 in a research report on Wednesday, May 17th. Bank of America Corporation lowered ConocoPhillips from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $68.00 to $67.00 in a research report on Thursday, May 11th. Finally, Guggenheim began coverage on ConocoPhillips in a research report on Tuesday, April 18th. They set a “neutral” rating on the stock. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $56.92.
In other news, VP James D. Mcmorran sold 9,091 shares of the business’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $47.47, for a total value of $431,549.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.82% of the stock is currently owned by insiders.
ConocoPhillips is an independent exploration and production company. The Company explores for, produces, transports and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG) and natural gas liquids. The Company operates through five segments: Alaska, Lower 48, Canada, Europe and North Africa, Asia Pacific and Middle East, and Other International.
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