Security National Trust Co. reduced its position in shares of ConocoPhillips (NYSE:COP) by 0.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,597 shares of the energy producer’s stock after selling 101 shares during the period. Security National Trust Co.’s holdings in ConocoPhillips were worth $1,520,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Patten & Patten Inc. TN grew its position in ConocoPhillips by 4.6% in the second quarter. Patten & Patten Inc. TN now owns 59,322 shares of the energy producer’s stock worth $2,608,000 after acquiring an additional 2,607 shares in the last quarter. Shell Asset Management Co. grew its position in ConocoPhillips by 2.4% in the second quarter. Shell Asset Management Co. now owns 202,066 shares of the energy producer’s stock worth $8,883,000 after acquiring an additional 4,647 shares in the last quarter. First Foundation Advisors purchased a new position in ConocoPhillips in the first quarter worth $497,000. FMR LLC grew its position in ConocoPhillips by 6.9% in the first 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. Finally, Citizens Financial Group Inc. RI grew its position in ConocoPhillips by 12.5% in the first quarter. Citizens Financial Group Inc. RI now owns 210,916 shares of the energy producer’s stock worth $10,518,000 after acquiring an additional 23,434 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.
Several brokerages recently issued reports on COP. Barclays PLC reiterated an “overweight” rating and issued a $55.00 target price (up from $51.00) on shares of ConocoPhillips in a research report on Tuesday, October 10th. Zacks Investment Research lowered shares of ConocoPhillips from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Royal Bank Of Canada reiterated a “buy” rating and issued a $54.00 target price on shares of ConocoPhillips in a research report on Friday, September 29th. Scotiabank reiterated a “buy” rating and issued a $53.00 target price on shares of ConocoPhillips in a research report on Friday, September 29th. Finally, J P Morgan Chase & Co reiterated an “overweight” rating on shares of ConocoPhillips in a research report on Saturday, September 16th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $54.15.
ConocoPhillips (NYSE COP) opened at 49.72 on Wednesday. The stock’s 50 day moving average is $47.32 and its 200 day moving average is $46.11. ConocoPhillips has a 52 week low of $40.37 and a 52 week high of $53.17. The company’s market capitalization is $60.51 billion.
ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, July 27th. The energy producer reported $0.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.16. The firm had revenue of $8.88 billion during the quarter, compared to analyst estimates of $6.74 billion. ConocoPhillips had a negative net margin of 12.29% and a negative return on equity of 2.86%. During the same quarter last year, the business earned ($0.79) EPS. On average, equities research analysts expect that ConocoPhillips will post $0.28 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors 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 2.13%. ConocoPhillips’s payout ratio is -34.98%.
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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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