First Quadrant L P CA raised its position in ConocoPhillips (NYSE:COP) by 3.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,627 shares of the energy producer’s stock after buying an additional 561 shares during the period. First Quadrant L P CA’s holdings in ConocoPhillips were worth $687,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the company. Financial Management Professionals Inc. increased its position in ConocoPhillips by 0.3% in the first quarter. Financial Management Professionals Inc. now owns 2,288 shares of the energy producer’s stock valued at $114,000 after buying an additional 6 shares during the period. Gemmer Asset Management LLC boosted its stake in ConocoPhillips by 0.4% in the first quarter. Gemmer Asset Management LLC now owns 2,167 shares of the energy producer’s stock valued at $108,000 after buying an additional 8 shares in the last quarter. Canal Capital Management LLC boosted its stake in ConocoPhillips by 0.3% in the second quarter. Canal Capital Management LLC now owns 6,342 shares of the energy producer’s stock valued at $279,000 after buying an additional 22 shares during the period. Wendell David Associates Inc. boosted its stake in ConocoPhillips by 0.3% in the second quarter. Wendell David Associates Inc. now owns 7,561 shares of the energy producer’s stock valued at $332,000 after buying an additional 26 shares during the period. Finally, Alpha Windward LLC boosted its stake in ConocoPhillips by 0.9% in the first quarter. Alpha Windward LLC now owns 5,564 shares of the energy producer’s stock valued at $277,000 after buying an additional 52 shares during the period. Institutional investors own 68.84% of the company’s stock.
Shares of ConocoPhillips (NYSE:COP) traded up 0.04% during trading on Wednesday, reaching $45.65. 7,451,119 shares of the company’s stock were exchanged. ConocoPhillips has a 52-week low of $39.00 and a 52-week high of $53.17. The company’s market capitalization is $55.55 billion. The company has a 50 day moving average price of $44.23 and a 200-day moving average price of $46.67.
ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, July 27th. The energy producer reported $0.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.16. ConocoPhillips had a negative net margin of 12.29% and a negative return on equity of 2.86%. The firm had revenue of $8.88 billion during the quarter, compared to the consensus estimate of $6.74 billion. During the same quarter in the prior year, the firm earned ($0.79) earnings per share. On average, equities analysts forecast that ConocoPhillips will post $0.25 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Monday, July 24th will be issued a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 2.32%. The ex-dividend date is Thursday, July 20th. ConocoPhillips’s dividend payout ratio (DPR) is presently -34.98%.
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Several research firms have recently commented on COP. Cowen and Company restated a “buy” rating on shares of ConocoPhillips in a research report on Friday, April 14th. Guggenheim assumed coverage on ConocoPhillips in a research report on Tuesday, April 18th. They set a “neutral” rating for the company. Jefferies Group LLC reiterated a “hold” rating and issued a $55.00 target price on shares of ConocoPhillips in a report on Friday, May 5th. Bank of America Corporation downgraded ConocoPhillips from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $68.00 to $67.00 in a report on Thursday, May 11th. Finally, BidaskClub raised ConocoPhillips from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $55.18.
In other news, VP James D. Mcmorran sold 9,091 shares of the company’s stock in a transaction that occurred on 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.82% of the stock is owned by corporate 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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