Commonwealth of Pennsylvania Public School Empls Retrmt SYS cut its holdings in shares of ConocoPhillips (NYSE:COP) by 0.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 124,111 shares of the energy producer’s stock after selling 526 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in ConocoPhillips were worth $5,456,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of the business. MUFG Securities EMEA plc purchased a new position in shares of ConocoPhillips during the second quarter worth approximately $26,376,000. Cipher Capital LP purchased a new position in shares of ConocoPhillips during the second quarter worth approximately $545,000. Benchmark Capital Advisors raised its stake in shares of ConocoPhillips by 0.9% during the second quarter. Benchmark Capital Advisors now owns 11,350 shares of the energy producer’s stock worth $499,000 after acquiring an additional 100 shares in the last quarter. Delta Lloyd Asset Management N.V. purchased a new position in shares of ConocoPhillips during the second quarter worth approximately $15,056,000. Finally, Swiss National Bank raised its stake in shares of ConocoPhillips by 2.9% during the second quarter. Swiss National Bank now owns 4,515,399 shares of the energy producer’s stock worth $198,497,000 after acquiring an additional 125,300 shares in the last quarter. 68.88% of the stock is currently owned by hedge funds and other institutional investors.
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Several research analysts recently commented on COP shares. Scotiabank reaffirmed a “buy” rating and issued a $53.00 target price on shares of ConocoPhillips in a research note on Wednesday. Barclays PLC lifted their target price on shares of ConocoPhillips from $55.00 to $59.00 and gave the stock an “overweight” rating in a research note on Friday, October 27th. Wells Fargo & Company lifted their target price on shares of ConocoPhillips from $57.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, October 27th. Royal Bank Of Canada set a $58.00 target price on shares of ConocoPhillips and gave the stock a “buy” rating in a research note on Monday. Finally, BidaskClub downgraded shares of ConocoPhillips from a “hold” rating to a “sell” rating in a research note on Thursday, August 17th. Four investment analysts have rated the stock with a sell rating, eight 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 company currently has a consensus rating of “Hold” and a consensus price target of $55.20.
ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, October 26th. The energy producer reported $0.16 EPS for the quarter, beating the consensus estimate of $0.08 by $0.08. The firm had revenue of $7.20 billion for the quarter, compared to analyst estimates of $6.55 billion. ConocoPhillips had a positive return on equity of 0.12% and a negative net margin of 7.32%. During the same quarter last year, the firm posted ($0.66) earnings per share.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Monday, October 16th will be paid a dividend of $0.265 per share. The ex-dividend date is Friday, October 13th. This represents a $1.06 annualized dividend and a dividend yield of 2.07%. ConocoPhillips’s dividend payout ratio is currently -57.30%.
ConocoPhillips Company Profile
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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