Patton Albertson Miller Group LLC lessened its position in shares of ConocoPhillips (NYSE:COP) by 14.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,215 shares of the energy producer’s stock after selling 3,614 shares during the quarter. Patton Albertson Miller Group LLC’s holdings in ConocoPhillips were worth $995,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of COP. Wellington Management Group LLP raised its stake in shares of ConocoPhillips by 255.3% during the 1st quarter. Wellington Management Group LLP now owns 12,803,885 shares of the energy producer’s stock worth $638,530,000 after acquiring an additional 9,200,014 shares in the last quarter. FMR LLC raised its stake in shares of ConocoPhillips by 6.9% during the 1st quarter. FMR LLC now owns 61,497,903 shares of the energy producer’s stock worth $3,066,900,000 after acquiring an additional 3,982,002 shares in the last quarter. State Street Corp raised its stake in shares of ConocoPhillips by 3.9% during the 1st quarter. State Street Corp now owns 65,388,296 shares of the energy producer’s stock worth $3,260,918,000 after acquiring an additional 2,452,533 shares in the last quarter. First Eagle Investment Management LLC raised its stake in shares of ConocoPhillips by 21.0% during the 1st quarter. First Eagle Investment Management LLC now owns 10,065,496 shares of the energy producer’s stock worth $501,966,000 after acquiring an additional 1,744,860 shares in the last quarter. Finally, Swiss National Bank raised its stake in shares of ConocoPhillips by 27.3% during the 1st quarter. Swiss National Bank now owns 4,390,099 shares of the energy producer’s stock worth $218,934,000 after acquiring an additional 940,600 shares in the last quarter. Hedge funds and other institutional investors own 68.90% of the company’s stock.
Shares of ConocoPhillips (NYSE COP) opened at 49.19 on Wednesday. The stock’s market capitalization is $59.86 billion. The stock has a 50 day moving average of $46.68 and a 200 day moving average of $46.01. ConocoPhillips has a 12-month low of $40.37 and a 12-month high of $53.17.
ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, July 27th. The energy producer reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $8.88 billion for the quarter, compared to analysts’ expectations of $6.74 billion. During the same quarter last year, the company earned ($0.79) earnings per share. Equities research analysts anticipate that ConocoPhillips will post $0.28 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Monday, October 16th will be issued a dividend of $0.265 per share. The ex-dividend date of this dividend is Friday, October 13th. This represents a $1.06 dividend on an annualized basis and a yield of 2.15%. ConocoPhillips’s payout ratio is currently -34.98%.
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Several research analysts recently commented on the stock. Royal Bank Of Canada set a $54.00 price objective on shares of ConocoPhillips and gave the stock a “buy” rating in a research note on Thursday, August 24th. Citigroup Inc. cut their price target on shares of ConocoPhillips from $65.00 to $57.00 and set a “buy” rating on the stock in a research note on Friday, July 21st. Jefferies Group LLC set a $59.00 price target on shares of ConocoPhillips and gave the company a “buy” rating in a research note on Sunday, July 30th. Goldman Sachs Group, Inc. (The) restated a “neutral” rating and set a $52.00 price target on shares of ConocoPhillips in a research note on Thursday, June 22nd. Finally, Bank of America Corporation upgraded shares of ConocoPhillips from a “neutral” rating to a “buy” rating and upped their price target for the company from $51.00 to $58.00 in a research note on Friday, July 28th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $54.15.
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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